Bulletin n. 1/2015
June 2015
CONTENTS
  • Section A) The theory and practise of the federal states and multi-level systems of government
  • Section B) Global governance and international organizations
  • Section C) Regional integration processes
  • Section D) Federalism as a political idea
    • Krampf Arie, Fritz Barbara
    Coping with financial crises: explaining variety in regional arrangements
    in Contemporary Politics , Volume 21, Issue 2, 2015 ,  2015 ,  117-126
    Financial regional arrangements vary across countries and change over time. Until recently, most economists and political scientists took the European model of monetary integration as the yardstick to which all other regional financial arrangements had to measure up in this article. It is argued that the Euro crisis provides an opportunity for scholars to adopt a different perspective that does not interpret the variety of financial arrangements merely as economic deficiencies caused by the incapacity or unwillingness of regions to follow the European model. Instead, the comparative study of monetary and financial regionalism has to account for the different factors that shape variations. These go from different levels of economic development, over regional political and economic preferences to historical processes which shape the institutional context and the constellation of interests and social forces. Such an approach, which integrates economic and political science approaches, de-centres the Euro model and opens up a new understanding of the global diversity of regional monetary and financial cooperation, and their potential to cope with financial crises.
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