Article (Scientific journals)
Shocks and Time: The Development of the European Financial Assistance Regime
Rehm, Moritz
2022In Journal of Common Market Studies
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Keywords :
covid-19 recovery fund; economic shock; euro area crisis; financial assistance; historical institutionalism
Abstract :
[en] This paper analyses the impact of economic crises on the development of European financial assistance. It demonstrates that crisis episodes that have taken place over the last five decades have significantly altered the design of European Union emergency support. This paper illustrates how solutions adopted in formative moments–including the 1973 oil shock, the Eurozone crisis, and the Covid-19 pandemic–and their long-term consequences led to the smorgasbord of instruments of the present financial assistance structure. By applying a historical institutionalist approach, combining insights from studies of critical junctures and gradual change, this contribution explains how economic shocks contributed to change in financial assistance, while also highlighting mechanisms that led to the continuation of specific elements of the assistance structure.
Disciplines :
Political science, public administration & international relations
Author, co-author :
Rehm, Moritz ;  University of Luxembourg > Faculty of Humanities, Education and Social Sciences (FHSE) > Department of Social Sciences (DSOC)
External co-authors :
no
Language :
English
Title :
Shocks and Time: The Development of the European Financial Assistance Regime
Publication date :
2022
Journal title :
Journal of Common Market Studies
ISSN :
1468-5965
Publisher :
Blackwell, Oxford, United Kingdom
Peer reviewed :
Peer Reviewed verified by ORBi
Available on ORBilu :
since 20 May 2022

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