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Social Mechanisms in the Establishment of the European Economic and Monetary Union

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  • Alfio Cerami

Abstract

This paper investigates the reasons, the transformative processes and the social mechanisms involved in the establishment of the European economic and monetary union (EMU). Contrary to commonly accepted theories and approaches used to explain institutional change, it argues that the establishment of the EMU has not simply been the product of historical paths, the rational choices of actors, or social construction of new economic ideas and preferences, as new-institutionalists or social constructivists would emphasize, but also and, perhaps, even more importantly, it has been the product of self-fulfilling prophecies that have facilitated and accelerated the process of institutional change. By adopting a Sociology of European Integration perspective, this paper also discusses the role of four crucial forces that initiating a causal chain of social mechanisms have helped in the establishment of the EMU: context-bounded rationality, embodied institutions, reflexivity and double-contingency.

Suggested Citation

  • Alfio Cerami, 2009. "Social Mechanisms in the Establishment of the European Economic and Monetary Union," Les Cahiers européens de Sciences Po 3, Centre d'études européennes (CEE) at Sciences Po, Paris.
    • Handle: RePEc:erp:scpoxx:p0003
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    References listed on IDEAS

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    5. Sophie Duchesne, André-Paul Frognier, 2007. "Why Is it so Difficult to Know if National Pride Leads the Way to European Identity or Prevents it ?," Les Cahiers européens de Sciences Po 3, Centre d'études européennes (CEE) at Sciences Po, Paris.
    6. Mayntz, Renate, 2003. "Mechanisms in the analysis of macro-social phenomena," MPIfG Working Paper 03/3, Max Planck Institute for the Study of Societies.
    7. KATHLEEN R. McNAMARA, 2006. "Economic Governance, Ideas and EMU: What Currency Does Policy Consensus Have Today?," Journal of Common Market Studies, Wiley Blackwell, vol. 44(4), pages 803-821, November.
    8. Hall, Peter A. & Taylor, Rosemary C. R., 1996. "Political science and the three new institutionalisms," MPIfG Discussion Paper 96/6, Max Planck Institute for the Study of Societies.
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    More about this item

    Keywords

    Europeanization; neo-institutionalism; negative integration; EMU; EMU; Euro; Single Market; economic integration; Amsterdam Treaty; Maastricht Treaty; Nice Treaty;
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