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Wirtschaftspolitischer Handlungsspielraum im Zeitalter der Globalisierung. Eine empirische Untersuchung am Beispiel von Währungskrisen

Sattler, Thomas and Walter, Stefanie (2008) Wirtschaftspolitischer Handlungsspielraum im Zeitalter der Globalisierung. Eine empirische Untersuchung am Beispiel von Währungskrisen. Politische Vierteljahresschrift, 3 . pp. 464-490. ISSN 0032-3470

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Abstract

This article assesses the popular view that currency crises represent a prime example of the constraints that globalization imposes on governments’ policy autonomy. We show that governments in fact have the possibility to respond to speculative pressure in different ways. Whether or not policymakers succumb to this pressure is not solely determined by economic factors but also a question of political considerations. Political preferences, institutions, and events significantly affect policy responses to currency crises. Our results suggest that national governments retain substantial short-run policy autonomy even in highly internationalized policy areas such as monetary and exchange rate policy.

Item Type: Article
Official URL: http://rd.springer.com/journal/11615
Additional Information: © 2008 Springer
Library of Congress subject classification: J Political Science > JA Political science (General)
Journal of Economic Literature Classification System: E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit
E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook
Sets: Departments > International Relations
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 18 Apr 2012 14:01
URL: http://eprints.lse.ac.uk/41843/

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