029 Comparative Approaches to the Study of Causes and Consequences of Fiscal Austerity Policies in the European Union

Wednesday, July 12, 2017: 11:00 AM-12:45 PM
Gilbert Scott Building - Room 356 (University of Glasgow)
European politics is dominated by the implications of the recent economic crisis. The global financial crisis, which started in 2007, induced an economic recession throughout Europe, followed by a sovereign debt crisis in several European states. The political response to the economic crisis by most governments in the European Union (EU) focused on austerity, attempts to bring down budget deficits and control the rise of debt. The papers presented in this panel investigate from a comparative political economy perspective (i.e. research that combines tools and theories from economics and political science), what factors explain variation in fiscal austerity policies in Europe, with particular attention to the consolidation episodes adopted by several governments in the European Union during the present decade? And, what are some of the consequences of those policies? Through a variety of qualitative and quantitative method approaches, the papers in this panel study the role played by institutions, party systems, interest groups and electoral competition dynamics in shaping austerity policies, and how some of these factors interact with social and economic variables. The panellists also investigate what is the impact of these policies on party systems and on financial markets reactions.
Juan Munoz-Portillo and Pieter van Houten
Discussant :
Sebastian Dellepiane
Austerity. Where and Why Politics Still Matters
Klaus Armingeon, University of Bern; Stefano Sacchi, University of Milan
Explaining the Magnitude and Composition of Fiscal Austerity Episodes in the European Union
Juan Munoz-Portillo, University of Cambridge; Pieter van Houten, University of Cambridge
Daily Judgement: Political News and Financial Markets
Michael Breen, Dublin City University; Iain McMenamin, Dublin City University; Michael Courtney, Dublin City University; Gemma McNulty, Dublin City University
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