IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Eurozone: Auf der Suche nach einer tragfähigen Fiscal Governance

Listed author(s):
  • Andreas Bley
Registered author(s):

    To ensure long-lasting stability of the euro the common currency needs functional fiscal governance. The stability of the euro exhibits the properties of a common pool resource with respect to the states of the euro area. Therefore, design principles of robust polycentric governance systems can be applied to the reform of the euro regulations. Of particularly importance are the principles of a targeted monitoring of the contributions to the preservation of the resource, the principle of graduated sanctions, and proportionality between the distribution of benefits and costs related to appropriation of the resource and contribution to its provision. Although the reform of euro area fiscal governance is far from being completed it seems that some of the reform proposals contribute to strengthening the efficacy of the framework. Der Euro benötigt eine funktionsfähige Fiscal Governance, damit die dauerhafte Stabilität der Währung gesichert werden kann. Ein Ansatz zur Bewertung des Euro-Regelwerks kann aus dem Umstand abgeleitet werden, dass die Stabilität des Euro ein Allmendegut darstellt. In der Feldforschung ermittelte Designprinzipien funktionsfähiger polizentristischer Governance-Strukturen lassen sich daher auf die Euro-Regeln übertragen. Von besonderer Relevanz für die aktuelle Reform der Regeln sind das Prinzip einer zielgerichteten Überwachung der Beiträge zur Aufrechterhaltung der Ressource Währungsstabilität, das Prinzip abgestufter Sanktionen und die Proportionalität von Nutzen aus der Ressource und geleisteten Beiträgen zu ihrer Erhaltung. Gemessen an den Design-Prinzipien leisten einige der in Umsetzung begriffenen Maßnahmen einen Beitrag zur Stärkung des Regelwerks. Eine zusammenfassende Bewertung der wirtschaftspolitischen Reformmaßnahmen ist angesichts des nur in Teilen abgeschlossenen Prozesses noch nicht möglich.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: no

    Article provided by DIW Berlin, German Institute for Economic Research in its journal Vierteljahrshefte zur Wirtschaftsforschung.

    Volume (Year): 79 (2010)
    Issue (Month): 4 ()
    Pages: 119-133

    in new window

    Handle: RePEc:diw:diwvjh:79-4-9
    Contact details of provider: Postal:
    Mohrenstraße 58, D-10117 Berlin

    Phone: xx49-30-89789-0
    Fax: xx49-30-89789-200
    Web page:

    More information through EDIRC

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    in new window

    1. Elinor Ostrom, 2010. "Beyond Markets and States: Polycentric Governance of Complex Economic Systems," American Economic Review, American Economic Association, vol. 100(3), pages 641-672, June.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:diw:diwvjh:79-4-9. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bibliothek)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.