Economic Policies: From Pace-Setter to Beleaguered Player

2003 ◽  
Author(s):  
Kenneth Dyson
Keyword(s):  
Economic Policy ◽  
Goodness Of Fit ◽  
Federal State ◽  
Unintended Effects ◽  
Economic Policies ◽  
Policy Reforms ◽  
Policy Model ◽  
Traditional Assumption ◽  
Social Market ◽  
State Relations

This chapter traces how rapidly evolving mechanisms of EU governance have affected German economic policy since the Treaty of Maastricht was agreed in 1991. Its central theme is the transition of Germany from ‘pace-setter’ in the constitutive politics of designing EMU to ‘beleaguered player’ in the regulative politics of its implementation, from Germany as policy model to Germany as the main problem. Europeanization has both reinforced traditional policy beliefs in ‘sound’ finance and acted as a catalyst for domestic policy reforms by strengthening the domestic discourse of competitiveness. It has also led to significant pressures for institutional reconfiguration, notably within the federal executive, federal-state relations, and the Bundesbank. The chapter questions the traditional assumption of a goodness of ‘fit’ between German and EU economic policies, in part because of unintended effects from the EMU and in part because, despite emphasis on a consensus about the ‘social market’ economy, Germany lacks a unitary economic policy model.

scholarly journals Nordic economic policies in the 1970s and 1980s

1987 ◽  
Vol 41 (3) ◽  
pp. 403-456 ◽  
Author(s):  
Lars Mjøset
Keyword(s):  
Economic Policy ◽  
Political Mobilization ◽  
External Pressure ◽  
Nordic Countries ◽  
Economic Policies ◽  
Policy Model ◽  
Structural Problems ◽  
The World ◽  
The 1960S ◽  
Favorable Conditions

Although the Nordic countries are small, open economies, they were able to benefit considerably from the expansion of the world economy during the “Golden Age” of the 1950s and 1960s. They achieved industrial diversification and consolidated welfare-state reforms. Throughout this period, several economic policy routines were institutionalized. These routines may be analyzed as parts of a specific economic policy model, determined by the economic structure and the pattern of political mobilization. It seems more fruitful to distinguish five such models rather than to use the generalizing notion of a “Scandinavian model.” In the 1970s, the world economic crisis posed new challenges for the Nordic countries. In the first phase of the crisis, economic policies continued to operate in accordance with the established routines. But structural problems, new patterns of political mobilization, and new forms of external pressure forced governments to shift towards austerity policies in the late 1970s. The extent and the specificities of these shifts are compared and the degree to which the economic policy models have changed assessed. Such an analysis is a first step to answer some crucial questions now facing the Nordic countries: Was their flexible adjustment merely the result of favorable conditions during the 1960s—or is it a permanent trait? Are they now trapped between large industrial nations and dynamic newly industrializingcountries? If so, what will be the fate of their advanced welfare sectors?

scholarly journals Fiscal Policy Reforms in Kosovo

2017 ◽  
Vol 8 (3) ◽  
pp. 985-990
Author(s):  
Bedri Statovci ◽  
Shefket Jakupi
Keyword(s):  
Economic Policy ◽  
Fiscal Policy ◽  
Political Stability ◽  
Transition Process ◽  
Progress Report ◽  
Standard Of Living ◽  
Economic Policies ◽  
Policy Reforms ◽  
Continuous Growth ◽  
National Governments

Fiscal policy represents one of the most important components of economic policy and as such it should be treated in its context.For this there are at least two reasons:First, economic policy defines the goals and criteria of fiscal policy in order to assess its contribution to the implementation of economic policies, andSecond, defining the connection between the objectives and instruments, theory of economic policy explains the process of fulfilling the objectives of economic policy, part of which process is fiscal policy itself. Therefore, in the following, in a quite direct manner, we will address the interdependence between economic policy and fiscal policy.The word policy, in everyday life is used to clarify the principles on which various activities run, in order to realize the goals set by the designated authorities by determining the holders of those activities, their size as well as means by which those goals should be realized.In order to achieve prosperity and political stability, national governments aim at achieving economic equilibrium. Kosovo is one of the last countries in Europe to transition to a market economy. The transition process has begun from a very difficult starting point.During the years after the war, a symbolic economic growth occurred, which has been attributed mainly to remittances, investments in infrastructure and privatization. Investments, despite continuous growth, are considered insufficient to boost domestic production.This pattern of growth has not been able to meet the development needs of the state and failed to translate into a better standard of living for citizens, given that neither unemployment nor poverty are reduced. (The Progress Report on Kosovo, European Commission 2011).

The age of symbolic economic policies?

2015 ◽  
Vol 37 (2) ◽  
pp. 245-265
Author(s):  
Peter Galbács
Keyword(s):  
Economic Policy ◽  
Theoretical Framework ◽  
Policy Tools ◽  
Economic Policies ◽  
Mainstream Economics ◽  
History Of ◽  
Theoretical Considerations ◽  
Macroeconomic Environment

This paper offers a few remarks on the so-called heterodoxy commentaries of recent times (e.g. Bod 2013, Csaba 2011). In accordance with the growing popularity of unusual economic policy actions, a set of “tools” is emerging that aims to exert its effects breaking with instrumental actions. Outlining a special framework of the history of mainstream economics, it will be argued that economic policy only gradually has become capable of applying this system. In our view, both the emergence of symbolic economic policies mentioned above and the rise of heterodoxy are on the same level, since certain governments can only operate through giving signals. Although it is not the time to formulate ultimate and eternal generalised statements, it may perhaps be stated that symbolic economic policies can make some room for manoeuvring available as a last resort. In other words, the possibility of a certain kind of economic policy “tools” can be derived from theoretical considerations, and this set has become highlighted recently by some constraining changes in the macroeconomic environment. Our theoretical framework will be filled sporadically with some episodes from the last few years of the economic policy of Hungary.

Assessment of Poland's Economic Policy During te Crisis

2013 ◽  
Vol 8 (3) ◽  
pp. 195-210
Author(s):  
Stefan Krajewski
Keyword(s):  
Economic Policy ◽  
Pension System ◽  
Fiscal Sustainability ◽  
Economic Policies ◽  
Role Of The State ◽  
The Usa ◽  
Reducing Costs ◽  
Polish Economy ◽  
Favorable Conditions ◽  
The Eu

The rapid weakening of economic activity, covering most states in the world, gives rise to a lively discussion on the choice of methods to tackle the crisis, the legitimacy and effectiveness of various economic policies, the role of the state and the scope of its intervention in the economy. The paper evaluates the Polish economic policy in recent years. This refers to the situation prevailing in the EU and the USA. I conclude that the Polish economy during the crisis remained relatively stable, without having to provide the emergency aid from the outside. The development of such a situation has been affected by different reasons, including: - The benefits of the so-called "backwardness rent", which resulted, among others, in the inflow of EU funds (Poland was in 2007-2013 and in will be in 2014-2020 the biggest beneficiary of the EU budget); - The effects of decisions on changes in the tax and social security, taken for political reasons (before the crisis); - The controversial withdrawal from the funded pension system, reducing the budget deficit and public debt; - The prudent monetary policy and anti-inflation policy pursued over many years. Actions taken in Poland are primarily focused on reducing costs, which differs quite significantly from the economic policy dominant in the U.S. and the "old" EU countries which generally pursue expansionary fiscal policy and a policy of cheap money. Polish solution facilitates the achievement of short-term fiscal sustainability, but does not create favorable conditions for the development in the long-term (insufficient investment, petrification of economic structure, lack of innovation). 

scholarly journals The Concept of Indonesia Raya Incorporated Conforms the Constitution of Economics: Studies of Grounded Theory on State Asset Ownership Management

2018 ◽  
Vol 8 (1) ◽  
pp. 136
Author(s):  
R. Agus Trihatmoko ◽  
Y. Sri Susilo
Keyword(s):  
Economic Policy ◽  
Grounded Theory ◽  
Private Sector ◽  
Group Discussion ◽  
Regional Government ◽  
Theory Approach ◽  
Economic Policies ◽  
Asset Ownership ◽  
New Economic Policy ◽  
The Republic

The phenomenon regarding the emersion of the idea of Indonesia Raya Incorporated (IRI) is interesting to be thereferences in economic policy studies.This study aim to reveal and interpret the management of state asset ownership as a proposal on the IRI approach. This research used qualitative method, designed with grounded theory approach and constructivism philosophy. Data collection was obtained from the results of Focus Group Discussion (FGD) of economists from various universities. The results reveal that: (1) The gap on state asset ownership by state-owned enterprises(BUMN), regional government-owned enterprises(BUMD) and private sectoras a result of economic liberalization is the antecedent of the emergence of the idea about IRI; (2) IRI encourages changes in the legislation for new economic policies; (3) The new economic policy,in form of IRI eliminates the gap in state asset ownership by BUMN, BUMD and private sector; (4) The gap on state asset ownership by BUMN, BUMD, and private sector will determine the prospects of society welfare level and economic sovereignty, and finally lead to the integrity of the Unitary State of the Republic of Indonesia. It is generally concluded that IRI whichis proposed in the management of state asset ownership has fulfilled the economic constitution.

The World. Challenges of the Global Crisis. Germany

2014 ◽  
pp. 38-52
Author(s):  
I. Semenenko ◽  
G. Irishin
Keyword(s):  
Economic Policy ◽  
Political Parties ◽  
Social Market Economy ◽  
The Political ◽  
Leadership Positions ◽  
Economy Model ◽  
Political Landscape ◽  
The World ◽  
Social Market ◽  
The Eu

The economic crisis of 2008–2009 highlighted new problems in the development of the German social market economy model and brought to the forefront the factors of its resilience that have ensured Germany’s leadership positions in the EU. Changes in economic policy have affected in the first place the energy and the financial sectors. Shifts in the political landscape have led to the appearance of new political parties. These changes have affected the results of the 2013 elections, the liberal democrats failure to enter the Bundestag has made the winner – CDU – seek new coalition partners.

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