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‘The Troika is Dead, Long Live the Domestic Troikas?': The Diffusion of National Fiscal Councils in the European Union

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  • Tobias Tesche

Abstract

This article shows that the troika institutions – the European Commission, the European Central Bank and the International Monetary Fund – formed a technocratic consensus about the desirability of establishing national fiscal councils in the European Union (EU). Considerable disagreement existed, however, with regard to their design features. Each institution promoted a distinct mode of indirect governance by ranking national fiscal councils depending on their adopted governance model (agent, trustee or orchestrator). This persuasion, through entrepreneurial benchmarking, constitutes an important mechanism by which member states were nudged to adopt a distinct fiscal council model. Preference heterogeneity among the troika members ultimately prevented the spread of a one‐size‐fits‐all fiscal council in the EU.

Suggested Citation

  • Tobias Tesche, 2019. "‘The Troika is Dead, Long Live the Domestic Troikas?': The Diffusion of National Fiscal Councils in the European Union," Journal of Common Market Studies, Wiley Blackwell, vol. 57(6), pages 1211-1227, November.
    • Handle: RePEc:bla:jcmkts:v:57:y:2019:i:6:p:1211-1227
    DOI: 10.1111/jcms.12880
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    Cited by:

    1. Robert Csehi & Daniel F. Schulz, 2022. "The EU's New Economic Governance Framework and Budgetary Decision‐Making in the Member States: Boon or Bane for Throughput Legitimacy?," Journal of Common Market Studies, Wiley Blackwell, vol. 60(1), pages 118-135, January.
    2. Cristina Fasone, 2021. "Do Independent Fiscal Institutions Enhance Parliamentary Accountability in the Eurozone?," Politics and Governance, Cogitatio Press, vol. 9(3), pages 135-144.
    3. Canale, Rosaria Rita & De Simone, Elina & Spagnolo, Nicola, 2021. "Financial markets and fiscal discipline in the Eurozone," Structural Change and Economic Dynamics, Elsevier, vol. 58(C), pages 490-499.
    4. European Fiscal Board (EFB), 2019. "2019 annual report of the European Fiscal Board," Annual reports 2019, European Fiscal Board.

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