 Matthias
Kaelberer, Ideas, Interests, and Institutions: The Domestic Politics of
European Monetary Cooperation Studies
of European monetary cooperation have concentrated largely on the process
of domestic preference formation. Ideational, interest-based, and
institutional approaches can help explain why European Union member states
pursued monetary cooperation. Ideational theories are elite-oriented and
emphasize cognitive factors in the decision-making process. Interest-based
approaches highlight the material costs and benefits of different social
groups. Institutional theories focus on the role of independent central
banks in the decision-making process. These approaches are complementary
rather than incompatible. Future research should investigate the
interrelationship and mutual interdependence of ideas, interests, and
institutions and their embeddedness in larger international structures. |