Reference : The policy narratives of European capital markets union
Scientific journals : Article
Law, criminology & political science : Political science, public administration & international relations
Finance
http://hdl.handle.net/10993/35395
The policy narratives of European capital markets union
English
Howarth, David mailto [University of Luxembourg > Faculty of Language and Literature, Humanities, Arts and Education (FLSHASE) > Identités, Politiques, Sociétés, Espaces (IPSE) >]
Quaglia, Lucia mailto []
Mar-2018
Journal of European Public Policy
Routledge
25
7
990-1009
Yes (verified by ORBilu)
International
1350-1763
1466-4429
UK
[en] Capital Markets Union ; financial integration ; financial markets ; financial regulation ; single market ; European Commission
[en] This paper examines the ‘making’ of Capital Markets Union (CMU) through the
theoretical lens of ‘actor-centred constructivism’, by considering the ‘policy
narratives’ that bureaucratic actors have employed strategically to promote
the project. It is argued that two main narratives were articulated by the
European Commission in order to mobilize the political support necessary to
push forward CMU and reduce potential opposition to it. The first narrative
was to boost the size and internal and external competitiveness of European
Union capital markets. The second narrative was the increased funding to the
real economy, especially to small and medium-sized enterprises (SMEs) and
infrastructural projects. The Commission used these narratives instrumentally
in ‘framing’ CMU as a positive-sum game, rather than a zero-sum game with
potential winners and losers.
Researchers ; Professionals ; Students
http://hdl.handle.net/10993/35395
10.1080/13501763.2018.1433707
https://doi.org/10.1080/13501763.2018.1433707

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