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The Political Economy Of European Monetary Unification: An Analytical Introduction

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  • BARRY EICHENGREEN
  • JEFFRY FRIEDEN

Abstract

European monetary unification (EMU) ‐ the creation of a single European currency and a European Central Bank ‐ is both an economic and a political phenomenon. Yet few studies have attempted to address simultaneously the political and economic dimensions of the process. In this introduction, we review and extend the relevant literatures. The evidence leads us to conclude that EMU is driven mainly by political rather than economic factors, although our understanding of even these political forces remains incomplete.

Suggested Citation

  • Barry Eichengreen & Jeffry Frieden, 1993. "The Political Economy Of European Monetary Unification: An Analytical Introduction," Economics and Politics, Wiley Blackwell, vol. 5(2), pages 85-104, July.
    • Handle: RePEc:bla:ecopol:v:5:y:1993:i:2:p:85-104
    DOI: 10.1111/j.1468-0343.1993.tb00069.x
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    References listed on IDEAS

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    1. Fratianni, Michele & von Hagen, Juergen, 1990. "The European Monetary System ten years after," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 32(1), pages 173-241, January.
    2. André Sapir & Khalid Sekkat, 1990. "Exchange rate volatility and international trade: the effects of the European monetary system," ULB Institutional Repository 2013/8228, ULB -- Universite Libre de Bruxelles.
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