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The Broad Economic Policy Guidelines: Before and After the Re‐launch of the Lisbon Strategy

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  • SERVAAS DEROOSE
  • DERMOT HODSON
  • JOOST KUHLMANN

Abstract

This article explores the evolution of the European Union's Broad Economic Policy Guidelines (BEPGs) since their introduction in 1993. It argues that the BEPGs have demonstrated value‐added as an overarching instrument of policy co‐ordination and as a catalyst for co‐operation between European and national policy‐makers. Notwithstanding this, the effectiveness of the BEPGs appears to have been hindered by the progressive accumulation of guidelines and by the failure of peer pressure to bite as a sanction mechanism. The re‐launch of the Lisbon Strategy in March 2005 simplified and streamlined the BEPGs, embedding them within a new set of Integrated Guidelines for Growth and Jobs. Key issues surrounding the future of the BEPGs concern their potential as a trigger for ‘home grown’ peer pressure, their attention to euro area specific issues and the involvement of the European Parliament in multilateral surveillance.

Suggested Citation

  • Servaas Deroose & Dermot Hodson & Joost Kuhlmann, 2008. "The Broad Economic Policy Guidelines: Before and After the Re‐launch of the Lisbon Strategy," Journal of Common Market Studies, Wiley Blackwell, vol. 46(4), pages 827-848, September.
    • Handle: RePEc:bla:jcmkts:v:46:y:2008:i:4:p:827-848
    DOI: 10.1111/j.1468-5965.2008.00822.x
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    Cited by:

    1. Arne Heise, 2014. "Zwangsjacke Euro. Die Fehlkonstruktion des Europäischen Economic Governance-Systems," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 40(1), pages 17-31.
    2. Scharpf, Fritz W., 2013. "Political legitimacy in a non-optimal currency area," MPIfG Discussion Paper 13/15, Max Planck Institute for the Study of Societies.
    3. Adina Akbik & Marta Migliorati, 2023. "Between Ideology and Nationality: Drivers of Legislative Oversight in the European Parliament's Economic Dialogues," Journal of Common Market Studies, Wiley Blackwell, vol. 61(4), pages 1026-1046, July.
    4. Maria Auböck & Doris Prammer, 2020. "Wirtschaftspolitische Empfehlungen in der EU und deren Umsetzungsbilanz in Österreich," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q1-Q2/20, pages 195-209.

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