TY  - JOUR
U1  - Zeitschriftenartikel, wissenschaftlich - begutachtet (reviewed)
A1  - Herzog, Bodo
T1  - Whither European economic governance?
JF  - International journal of business and management
N2  - This paper develops a new governance scheme for a stable and lasting European Monetary Union (EMU). I demonstrate that existing economic governance is based on flawed incentives especially due to insufficient macroeconomic coordination, failures of institutional enforcement and animal spirit in financial markets. All this caused the European sovereign debt crisis in 2010. Consequently, the EMU crisis is not a conundrum at all rather a failure of national and supranational governance. To tackle this problem, I propose a return to flexible but compulsory rules driven by market forces. The new governance principles shall promote the compliance and effective enforcement of rules.
KW  - economic governance
KW  - eurozone
KW  - euro crisis
KW  - animal spirit
Y1  - 2014
UN  - https://nbn-resolving.org/urn:nbn:de:bsz:rt2-opus4-483
SN  - 1833-3850
SS  - 1833-3850
U6  - https://doi.org/10.5539/ijbm.v9n2p60
DO  - https://doi.org/10.5539/ijbm.v9n2p60
VL  - 9
IS  - 2
SP  - 60
EP  - 69
S1  - 10
PB  - Canadian Center of Science and Education
CY  - Bayswater
ER  -