TY  - BOOK
AU  - Győrffy,Dóra
TI  - Institutional Trust and Economic Policy Lessons from the History of the Euro: Lessons from the History of the Euro
SN  - 9786155225345
AV  - BF575.T7 -- G96 2013eb 
PY  - 2013///
CY  - Budapest
PB  - Central European University Press
KW  - Trust
KW  - Euro
KW  - European Union countries-Economic policy
KW  - Electronic books
N1  - Cover -- Title page -- Copyright page -- Contents -- List of Figues -- List of Tables -- Preface and Acknowledgments -- 1. Introduction -- 1.1. The controversy over trust -- 1.2. Research questions 3 -- 1.3. Methodology and research design -- 1.4. The concept and measurement of trust -- 1.5. The argument in a nutshell -- 1.6. Summary of chapters -- 2. Institutional Trust and Individual Decision Making -- 2.1. Theories of expectations -- 2.1.1. Rational expectations -- 2.1.2. Austrian and Post-Keynesian approaches to expectations -- 2.2. The concept of uncertainty -- 2.3. The role of institutions in reducing uncertainty -- 2.4. Compliance and legitimacy -- 2.4.1. Tax compliance -- 2.5. Institutional trust and individual planning -- 3. Institutional Trust and Policymaking in the EMU -- 3.1. Unique and recurrent decisions: the rationality ofpolicymakers -- 3.2. The de-politicization of money in the EMU -- 3.2.1. The collapse of Bretton Woods and its turbulent aftermath -- 3.2.2. The creation of the Single Market -- 3.2.3. Learning monetary cooperation: lessons from history -- 3.2.4. A technocratic approach to the de-politicization of money -- 3.2.5. Self-imposed commitments for sound money -- 3.2.6. Tensions within the arrangement-the role of fiscal policy -- 3.3. Policy choices within the euro-zone: the role of trust -- 3.3.1. Fiscal policy, growth, and trust -- 3.3.2. The difficulties of reform -- 3.3.3. Implications for fiscal consolidation -- 3.3.4. Implications for adjustment within the EMU -- 3.4. Prospects after the euro-hypotheses -- 4. Fiscal Developments in the EU-15, 1992-2007 -- 4.1. The EMS crisis-the start of the convergence period -- 4.2. The working of the EMU fiscal rules -- 4.3. Motives for change: internal commitment vs. external anchor -- 4.4. Institutional quality in the EU-15 -- 4.5. Approaches to fiscal consolidation; 4.6. Virtuous and vicious cycles at work: Sweden vs. Portugal -- 4.6.1. Institutional conditions -- 4.6.2. Fiscal policy and growth following the EMS crisis -- 4.6.3. The political economy of fiscal reforms -- 5. The Maastricht Process in the CEE-10 -- 5.1. An environment of distrust -- 5.1.1. Paternalism and rule of law under communism -- 5.1.2. The heritage of transition -- 5.2. The role of external constraints in an environment of distrust -- 5.2.1. International financial markets -- 5.2.2. The EU as an anchor -- 5.2.3. The Maastricht process as an anchor -- 5.3. Institutional quality and exchange rate choice -- 5.4. The impact of distrust on economic policy in the CEE-10 -- 5.4.1. Fiscal policy in the CEE-10, 2002-2007 -- 5.4.2. Credit developments in the CEE-10, 2002-2008 -- 5.4.3. Assessment -- 5.5. Reforms without trust: Hungary vs. Slovakia -- 5.5.1. Roots of distrust -- 5.5.2. Vicious cycles in Hungary -- 5.5.3. From isolation to star performer: reforms in Slovakia -- 5.5.4. The political economy of reforms in a low-trust environment -- 6. Financial Crisis in the EU-25 -- 6.1. The origins of the subprime crisis -- 6.2. The crisis in the EU -- 6.3. Consequences of the crisis in the EU-25 -- 6.3.1. Growth -- 6.3.2. Public debt -- 6.3.3. Unemployment -- 6.3.4. Assessment of crisis performance -- 6.4. Surprising cases: Ireland and Poland -- 6.4.1. Ireland -- 6.4.2. Poland -- 6.4.3. Implications for the theory -- 7. The Relevance of Trust for Economic Outcomes -- 7.1. Summary of findings -- 7.2. Differences between East and West in the EU -- 7.3. Institutional trust and economic consequences -- 7.3.1. High-trust countries in the euro-zone -- 7.3.2. High-trust countries outside the euro-zone -- 7.3.3. Low-trust countries in the euro-zone -- 7.3.4. Low-trust countries outside the euro-zone -- 7.4. Factors moderating the role of trust; 7.4.1. Initial level of development -- 7.4.2. International financial market pressures -- 7.4.3. Overconfidence -- 7.4.4. Economic ideas -- 7.4.5. Leadership -- 7.5. Implications for policy -- 7.5.1. The future of the euro-zone -- 7.5.2. Accession of CEE countries to the euro-zone -- 7.5.3. The political economy of policy reforms -- 7.6. Conclusions -- Bibliography -- Index
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UR  - https://ebookcentral.proquest.com/lib/orpp/detail.action?docID=3137351
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