The potential for an EU supracapitalism

Jenkins, David (2015). The potential for an EU supracapitalism. University of Birmingham. Ph.D.

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Abstract

This research set out to establish whether the supranational management by the European Central Bank (ECB) of the monetary policy and exchange rate policy of the 12 European Union (EU) member states adopting the euro single currency, could be considered as a precursor to the development of a one-size-fits-all model of EU capitalism. In doing so, eight typologies of EU national capitalisms were constructed from the broad range of literature of types or varieties of capitalism, and were employed to test the performance of their economies between 1986 and 2006. Using a broad range of macroeconomic variable indicators over a period that began with Single European Act (SEA) and coursed through seven years past the launch of the euro in 1999, levels of influence of the ECB and euro as institutions on the performance of the selected capitalism groups were measured in order to establish the extent to which the ECB as a genuine supranational body would be able to both complete the planned transmission to full EU economic and monetary union as a basis for future EU political union.
The findings suggest that although there is evidence of significant overall influence over most of the macroeconomic variable indicators of the selected typologies, it remains unclear whether such supranational influence will be enough to overcome the difficulties surrounding the more politically sensitive areas of taxation and unemployment. And, until the effective supranational management of these variables, which would ultimately encompass levels of supranational influence over fiscal policy and tax harmonisation, the current level of ECB supranational power will remain as it is for the foreseeable future.

Type of Work:

Thesis (Doctorates > Ph.D.)

Award Type:

Doctorates > Ph.D.

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