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The Stability and Growth Pact ‐ Theorizing a Case in European Integration

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  • MARTIN HEIPERTZ
  • AMY VERDUN

Abstract

This article looks at the Stability and Growth Pact (SGP) as a case study in European integration. Applying the theoretical lenses of various European integration approaches (intergovernmentalism, domestic politics, neofunctionalism and an ‘expertocratic’ approach) it seeks to explain the creation of the SGP as well as its subsequent implementation. The findings show that these approaches are able to illuminate different parts of the process. The article thus argues that only an eclectic combination of the approaches provides a satisfactory theoretical explanation of the SGP as a fundamental element of the rules‐based economic and monetary union (EMU) regime.

Suggested Citation

  • Martin Heipertz & Amy Verdun, 2005. "The Stability and Growth Pact ‐ Theorizing a Case in European Integration," Journal of Common Market Studies, Wiley Blackwell, vol. 43(5), pages 985-1008, December.
    • Handle: RePEc:bla:jcmkts:v:43:y:2005:i:5:p:985-1008
    DOI: 10.1111/j.1468-5965.2005.00605.x
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    References listed on IDEAS

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    1. Artis, Michael & Winkler, Bernhard, 1998. "The Stability Pact: Safeguarding the Credibility of the European Central Bank," National Institute Economic Review, National Institute of Economic and Social Research, vol. 163, pages 87-98, January.
    2. Dyson, Kenneth, 2000. "The Politics of the Euro-Zone: Stability or Breakdown?," OUP Catalogue, Oxford University Press, number 9780199241644, Decembrie.
    3. Dyson, Kenneth & Featherstone, Kevin, 1999. "The Road To Maastricht: Negotiating Economic and Monetary Union," OUP Catalogue, Oxford University Press, number 9780198296386, Decembrie.
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    1. Győrffy, Dóra, 2008. "Költségvetési kiigazítás és növekedés az Európai Unióban. Tanulságok Magyarország számára [Budget adjustment and growth in the European Union lessons for Hungary]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 962-986.
    2. Daniel Seikel, 2016. "Flexible Austerity and Supranational Autonomy. The Reformed Excessive Deficit Procedure and the Asymmetry between Liberalization and Social Regulation in the EU," Journal of Common Market Studies, Wiley Blackwell, vol. 54(6), pages 1398-1416, November.
    3. Paul Schure & Amy Verdun, 2008. "Legislative Bargaining in the European Union," European Union Politics, , vol. 9(4), pages 459-486, December.
    4. Ngai, Victor, 2012. "Stability and Growth Pact and Fiscal Discipline in the Eurozone," Working Papers 12-10, University of Pennsylvania, Wharton School, Weiss Center.
    5. Donato Di Carlo & Oscar Molina, 2024. "Same same but different? The Mediterranean growth regime and public sector wage-setting before and after the sovereign debt crisis," European Journal of Industrial Relations, , vol. 30(1), pages 31-53, March.
    6. Hooper, Keith & Kearins, Kate, 2008. "The walrus, carpenter and oysters: Liberal reform, hypocrisy and expertocracy in Maori land loss in New Zealand 1885–1911," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 19(8), pages 1239-1262.
    7. Carlos Closa & Aleksandra Maatsch, 2014. "In a Spirit of Solidarity? Justifying the European Financial Stability Facility (EFSF) in National Parliamentary Debates," Journal of Common Market Studies, Wiley Blackwell, vol. 52(4), pages 826-842, July.

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