Cookies Policy

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.

I accept this policy

Find out more here

The European Field of Government Debt in Times of Stability and in Times of Crisis

No metrics data to plot.
The attempt to load metrics for this article has failed.
The attempt to plot a graph for these metrics has failed.
The full text of this article is not currently available.

Brill’s MyBook program is exclusively available on BrillOnline Books and Journals. Students and scholars affiliated with an institution that has purchased a Brill E-Book on the BrillOnline platform automatically have access to the MyBook option for the title(s) acquired by the Library. Brill MyBook is a print-on-demand paperback copy which is sold at a favorably uniform low price.

Access this article

+ Tax (if applicable)
Add to Favorites
You must be logged in to use this functionality

image of Comparative Sociology
For content published from 1960-2001, see International Journal of Comparative Sociology.

The aim of the article is to understand how the introduction of the euro changed the environment for government debt managers and therefore altered government debt management strategies. The argument of the article is that the common currency has led to the institutionalization of a transnational field. In this new European field, the strategies of its members are a treatment of both the common shared rules and the mutual awareness of each other and their role in the field. In times of stability, the European field pushed the competition among government debt managers and therefore resulted in converging tendencies in government debt management approaches without overcoming all differences. Contrary to this, during the crisis and therefore in times of an unstable environment, government debt management approaches became more divergent and more hierarchic.

Affiliations: 1: Department of Social Sciences, School of Education and Social Sciences, Carl von Ossietzky University of Oldenburg OldenburgGermany


Full text loading...


Data & Media loading...

1. Barley S. R., Tolbert P. S."Institutionalization and structuration: Studying the links between action and institution" Organization 1997Vol 18 1 93 118
2. Barman E."Asserting difference: Strategic response of nonprofit organizations to competition" Social Forces 2002Vol 80 4 1191 1222 [Crossref]
3. Bearce D. H."emu: the last stand for the policy convergence hypothesis?" Journal of European Public Policy 2009Vol 16 4 582 600 [Crossref]
4. Blommestein H. J."New Challenges in the Use of Government Debt Issuance Procedures, Techniques and Policies in oecd Markets" oecd Journal: Financial Market Trends 2009Vol Vol. 2009 1
5. Blommestein H. J., Gok A."“The surge in borrowing needs of oecd governments: Revised estimates for 2009 and 2010 Outlook”" oecd Journal: Financial Market Trends 2010Vol Vol. 2009 2
6. Blommestein H. J., Schich S."Convergence in Euro Area Government Debt Markets" oecd Journal: Financial Market Trends 2003 March No. 84 2003
7. Blyth M."Austerity: The history of a dangerous idea" 2013 Oxford Oxford University Press
8. Bolton P., Olivier J."Sovereign Default Risk and Bank Fragility in Financially Integrated Economies" nber Working Paper No. 16899 2011 March 2011
9. Brenner M., Galai D., Sade O."Sovereign debt auctions: Uniform or discriminatory?" Journal of Monetary Economics 2009Vol 56 267 274 [Crossref]
10. Burns T., Flam H. The shaping of social organization: Social rule system theory with applications 1987 London Sage
11. Cooney K."Fields, Organizations, and Agency: Toward a Multilevel Theory of Institutionalization in Action" Administration and Society 2007 October 39Vol 6 687 718 [Crossref]
12. De Broecke M., Guscina A."Government Debt Issuance in the Euro Area: The Impact of the Financial Crisis" IMF Working Paper WP/11/21 2010
13. De Grauwe P."“The Fragility of the Eurozone’s Institutions”" Open Economy Review 2010Vol 21 167 174 [Crossref]
14. De Grauwe P. Economics of monetary union 2014 10th edition Oxford University Press
15. DiMaggio P. J., Powell W. W."The iron cage revisited: Isomorphism and collective rationality in organizational fields" American Sociological Review 1983Vol 48 2 147 160 [Crossref]
16. Dodd N."Reinventing monies in Europe" Economy and Society 2005Vol 34 4 558 583 [Crossref]
17. Dorado S."Institutional entrepreneurship, partaking, and convening" Organizational Studies 2005Vol 26 3 385 414 [Crossref]
18. Dyson K. H. F. States, debt, and power: saints and sinners in European history and integration 2014 Oxford Oxford University Press [Crossref]
19. Eichengreen B. J."European Monetary Integration with Benefit of Hindsight" Journal of Common Market Studies 2012Vol 50 123 136 [Crossref]
20. Eichengreen B. J. The European Economy since 1945: Coordinated Capitalism and Beyond 2008 Princeton Princeton University Press
21. European Court of Justice Judgment of the Court of 26 September 2000 2000 Commission of the European Communities v Kingdom of Belgium. Loans issued abroad – Prohibition of acquisition by Belgian residents. Case C-478/98.
22. Fligstein N."Social skill and the theory of fields" Sociological Theory 2001Vol 19 2 105 125 [Crossref]
23. Fligstein N., McAdam D. A Theory of Fields 2012 New York Oxford University Press [Crossref]
24. Fligstein N., McAdam D."Toward a General Theory of Strategic Action Fields" Sociological Theory 2011Vol 29 1 26 [Crossref]
25. Galati G., Tsataronis Kostas"The impact of the euro on Europe’s financial markets" Financial Markets, Institutions and Instruments 2003Vol 12 3 165 221 [Crossref]
26. Giddens A. The constitution of society: Outline of the theory of structuration 1984 Cambridge, UK Polity
27. Graeber D. Debt: The first 5,000 years 2011 Brooklyn, N.Y. Melville House
28. Gros D."On the Stability of Public Debt in a Monetary Union" Journal of Common Market Studies 2012Vol 50 36 48 [Crossref]
29. Hall P."The Economics and Politics of the Euro Crisis" German Politics 2012Vol 21 4 355 371 [Crossref]
30. Hodson D."emu and political union: what, if anything, have we learned from the euro’s first decade?" Journal of European Public Policy 2009Vol 16 508 526 [Crossref]
31. Hoffman A."Institutional evolution and change: Environmentalism and the us chemical industry" Academy of Management Journal 1999Vol 42 4 351 371 [Crossref]
32. Holappa L., Teivainen T."Financialization of the Sovereign Debt: Implications for Democracy" International Studies Association Annual Convention 2001 Montreal, Canada
33. Ingham G. K. The nature of money 2004 Cambridge, UK, Malden, MA Polity
34. International Monetary Fund World Economic and Financial Surveys. International Capital Markets. Developments, Prospects, and Key Policy Issues 2001 Washington D.C. International Monetary Fund
35. Jepperson R. DiMaggio P., Powell W."Institutions, Institutional Effects, and Institutionalism" The new institutionalism in organizational analysis 1991 Chicago University Press 143 163
36. Lane P. R."The Real Effects of European Monetary Union" Journal of Economic Perspectives 2006Vol 20 4 47 66 [Crossref]
37. Martin J. L."What is field theory?" American Journal of Sociology 2003Vol 109 1 1 49 [Crossref]
38. Oliver C."Strategic responses to institutional processes" Academy of Management Review 1991Vol 16 1 145 179 [Crossref]
39. Organisation for Economic Co-operation and Development Government Debt Management. Objectives and Techniques 1982Vol Volume I Paris OECD Publishing
40. Organisation for Economic Co-operation and Development Government Debt Management. Debt Instruments and Selling Techniques 1983Vol Volume II Paris OECD Publishing
41. Organisation for Economic Co-operation and Development Financial Market Trends 1999Vol No. 72 Paris OECD Publishing
42. Organisation for Economic Co-operation and Development"Finance and Investment" Financial Market Trends 2000Vol No. 75 Paris OECD Publishing
43. Organisation for Economic Co-operation and Development"Finance and Investment" Financial Market Trends 2003Vol No. 84 Paris OECD Publishing
44. Organisation for Economic Co-operation and Development oecd Sovereign Borrowing Outlook 2012 2012 Paris OECD Publishing
45. Organisation for Economic Co-operation and Development oecd Sovereign Borrowing Outlook 2013 2013 Paris OECD Publishing
46. Organisation for Economic Co-operation and Development oecd Sovereign Borrowing Outlook 2014 2014 Paris OECD Publishing
47. Pagano M., von Thadden E.-L."The European Bond Markets under emu" Oxford Review Economic Policy 2004Vol 20 4 531 554 [Crossref]
48. Powell W. W."The New Institutionalism" The International Encyclopedia of Organization Studies 2007 Sage Publishers
49. Reinhart C. M., Rogoff K. S. This time is different. Eight centuries of financial folly 2009 Princeton Princeton University Press
50. Rossi S."Financialization and monetary union in Europe: the monetary–structural causes of the euro-area crisis" Cambridge Journal of Regions, Economy and Society 2013Vol 6 381 400 [Crossref]
51. Salines M., Glöckler G., Truchlewski Z."Existential crisis, incremental response: the eurozone’s dual institutional evolution 2007–2011" Journal of European Public Policy 2012Vol 19 5 665 681 [Crossref]
52. Sandfort J."Exploring the structuration of technology within human service organizations" Administration and Society 2003Vol 34 605 631 [Crossref]
53. Scott Richard W."Institutions and Organizations" 2001 Thousand Oaks Sage
54. Stone Sweet A., Fligstein N., Sandholtz W. Stone Sweet A., Sandholtz W., Fligstein N."The Institutionalization of European Space" The Institutionalization of Europe 2001 Oxford Oxford University Press 1 31 [Crossref]
55. ’t Hart P., Rosenthal U., Kouzmin A."Crisis Decision Making: The Centralization Thesis Revisited" Administration and Society 1993Vol 25 1 12 45 [Crossref]
56. Thelen K. Mahoney J., Rueschemeyer D."How Institutions Evolve: Insights from Comparative Historical Analysis" Comparative-Historical Analysis: Innovations in Theory and Method 2003 Cambridge, New York Cambridge University Press 208 240
57. Vause N., Goetz von P."Euro area sovereign crisis drives global financial Markets" BIS Quarterly Review 2011 December 2011
58. Vobruba G. Baptista L., Preunkert J., Vobruba G."Assessing the Euro Crisis. Currency, Conflict and the Construction of a European Society" Aftermath. Political and Urban Consequences of the Euro Crisis 2015 11 22 Lisboa 2015: Edicoes Colibri.

Article metrics loading...



Can't access your account?
  • Tools

  • Add to Favorites
  • Printable version
  • Email this page
  • Subscribe to ToC alert
  • Get permissions
  • Recommend to your library

    You must fill out fields marked with: *

    Librarian details
    Your details
    Why are you recommending this title?
    Select reason:
    Comparative Sociology — Recommend this title to your library
  • Export citations
  • Key

  • Full access
  • Open Access
  • Partial/No accessInformation