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Coping with Money : European Monetary Integration and the Resurgence of National Corporatism
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Type
Academic journal
Author
Byoung-Inn Bai (국민대학교)
Journal
The Korean Association Of International Studies Korean Journal of International Relations Vol.50 No.3 KCI Excellent Accredited Journal
Published
2010.6
Pages
165 - 195 (31page)
DOI
10.14731/kjis.2010.06.50.3.165

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Coping with Money : European Monetary Integration and the Resurgence of National Corporatism
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Abstract· Keywords

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European corporatism that began in the 1990s came in remarkably good shape, replacing the deep pessimism that characterized the 1980s. Against the backdrop of the European Monetary Union (EMU), most European countries experimented with what currently goes under the name of “social pacts.”Faced with this unexpected explosion of corporatism, many scholars have pointed out the possibly positive impact of the European monetary integration on national corporatism although the relationship between them remains unclear. This research explores the impact of European monetary integration on national corporatism through the lens of the relationship between macroeconomic regimes and corporatism. Using 15 OECD countries’ data, I show that a non-accommodating monetary regime as in the EMU has a positive impact on the rise of corporatism, but only in conjunction with the degree to which fiscal austerity can be guaranteed. That is, corporatism functions as a supplementary tool for the necessary fiscal austerity that the EMU dictates to member countries. This also explains why current European corporatism goes hand in hand with the welfare reforms unlike traditional corporatism.
#corporatism #monetary regimes #fiscal regimes #European Monetary Union

Contents

ABSTRACT
Ⅰ. Introduction
Ⅱ. EMU and the Resurgence of Corporatism
Ⅲ. Theory: Macroeconomic Regime, Sectoral Interests and Corporatism
Ⅳ. Macroeconomic Regimes and Corporatism: An Empirical Test
Ⅴ. Conclusion
REFERENCES
APPENDIX. Descriptive Statistics

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