Abstract

https://ssrn.com/abstract=2715746
 


 



The Ideological Basis of the Grexit Debate


Kirk Bansak


Stanford University, Department of Political Science, Students

Michael M. Bechtel


Washington University in Saint Louis

Jens Hainmueller


Stanford University - Department of Political Science; Stanford Graduate School of Business; Stanford Immigration Policy Lab

Yotam M. Margalit


Columbia University

January 1, 2016

Stanford University Graduate School of Business Research Paper No. 16-9

Abstract:     
What explains the sharp divide among European publics over the Grexit? We explore this question using original surveys from four of the largest European economies. We contend that differences in citizens' own economic interests, as well as the often-mentioned chasm between supporters of mainstream and extremist parties, provide little insight into the public divide over the Grexit. Instead, we show that the key factor is the split between the left and right. We then develop and test a set of theoretical explanations for this cleavage. We find that the left-right divide over the Grexit is not driven by differences in attitudes on redistribution, levels of empathy, or general EU support. Instead, we find that the primary mechanism is that left and right voters have different expectations about the impact of a Grexit on the European economy as a whole. These expectations largely reflect differences in core beliefs about the promise of a free-market approach.

Number of Pages in PDF File: 69

Keywords: Grexit, bailouts, financial crisis, European Union, redistribution, public opinion

JEL Classification: F33


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Date posted: January 16, 2016  

Suggested Citation

Bansak, Kirk and Bechtel, Michael M. and Hainmueller, Jens and Margalit, Yotam M., The Ideological Basis of the Grexit Debate (January 1, 2016). Stanford University Graduate School of Business Research Paper No. 16-9. Available at SSRN: https://ssrn.com/abstract=2715746 or http://dx.doi.org/10.2139/ssrn.2715746

Contact Information

Kirk Bansak
Stanford University, Department of Political Science, Students ( email )
Stanford, CA 94305
United States
Michael M. Bechtel
Washington University in Saint Louis ( email )
Campus Box 1063
One Brookings Drive
Saint Louis, MO 63130-4899
United States
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 )
655 Knight Way
Stanford, CA 94305-5015
United States

Stanford Immigration Policy Lab
30 Alta Road
Stanford, CA 94305
United States
Yotam M. Margalit
Columbia University ( email )
3022 Broadway
New York, NY 10027
United States
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