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The New Politics of Austerity: Fiscal Responses to the Economic Crisis in Ireland and Spain
Dellepiane, Sebastian; Hardiman, Niamh
This paper adopts a new analytical approach to explaining choices in fiscal politics in Ireland and Spain between 2008 and 2010, in response to international economic crisis. It adopts a comparative cross-national research design to explore why two countries with similar pre-crisis fiscal profiles adopted radically different strategies in the initial phase of the crisis: Ireland adopted an orthodox deficit-reduction strategy, while Spain implemented a ‘heterodox’ stimulus fiscal package. Yet by mid-2010, Spain’s fiscal stance had converged with Ireland’s, as the wider European crisis deepened and the scope for autonomous national policy choice narrowed. The paper tracks this shift in a second stage of the research design, examining within-country variation over time, to provide a nuanced and sophisticated analysis of strategic choices at critical moments. It argues that the shift toward a European politics of austerity is different in a number of important ways from the older politics of fiscal consolidation, and that this has far-reaching implications not only for the evolution of European integration, but also for the balance between democratic politics and transnational markets. Author has checked copyright Move to Geary Institute working papers and map to Politics once live - OR 18/10/2013 12/11/13 RB
Keyword(s): Fiscal politics; Economic crisis; Fiscal consolidation; Austerity; Cross-national
Publication Date:
2013
Type: Working paper
Peer-Reviewed: Unknown
Language(s): English
Institution: University College Dublin
Publisher(s): University College Dublin. Geary Institute
First Indexed: 2013-11-14 05:25:38 Last Updated: 2018-10-11 16:51:01