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http://ssrn.com/abstract=2163594
 
 

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Exploring the Multidimensionality of Preferences for International Redistribution: The Case of the Eurozone Bailouts


Michael M. Bechtel


University of St. Gallen - Department of Political Science

Jens Hainmueller


Stanford University - Department of Political Science; Stanford Graduate School of Business

Yotam M. Margalit


Columbia University

October 2014


Abstract:     
Under what conditions can governments obtain political support for funding international bailouts? Financial bailouts for ailing Eurozone countries face deep and widespread opposition among voters in donor countries, casting serious doubts over the political feasibility of any further assistance efforts. Drawing on theories of preference formation, we argue that conventional accounts provide a misguided view of the public's stance in the bailout debate. Instead, we contend that attitudes toward international redistribution are multidimensional in that they greatly depend on the specific features that the rescue package takes on a number of key dimensions. We test this argument by combining unique data from an original, large-scale survey in Germany, the largest donor country, together with a conjoint experiment that varies salient policy dimensions of the proposed bailout. We find that changes in the composition of the rescue package, in particular burden-sharing and conditionality features, can lead to decisive shifts in public support. The results also provide broader insight on the considerations underlying citizens' attitudes toward national contributions to international public goods.

Number of Pages in PDF File: 43

Keywords: bailouts, Eurozone, public opinion, conjoint analysis

JEL Classification: F5, P16, F34, D72

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Date posted: October 19, 2012 ; Last revised: October 8, 2014

Suggested Citation

Bechtel, Michael M. and Hainmueller, Jens and Margalit, Yotam M., Exploring the Multidimensionality of Preferences for International Redistribution: The Case of the Eurozone Bailouts (October 2014). Available at SSRN: http://ssrn.com/abstract=2163594 or http://dx.doi.org/10.2139/ssrn.2163594

Contact Information

Michael M. Bechtel
University of St. Gallen - Department of Political Science ( email )
Bodanstrasse 6
St. Gallen, 9000
Switzerland
HOME PAGE: http://www.mbechtel.com
Jens Hainmueller (Contact Author)
Stanford University - Department of Political Science ( email )
Stanford, CA 94305
United States
HOME PAGE: http://www.stanford.edu/~jhain/
Stanford Graduate School of Business ( email )
518 Memorial Way
Stanford, CA 94305-5015
United States
Yotam M. Margalit
Columbia University ( email )
3022 Broadway
New York, NY 10027
United States
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