The Stability and Growth Pact - Theorizing a Case in European Integration

23 Pages Posted: 22 Dec 2005

See all articles by Martin Heipertz

Martin Heipertz

European Central Bank - International and European Relations

Amy C. Verdun

University of Victoria - Political Science; Institute of Political Science

Abstract

This article looks at the Stability and Growth Pact (SGP) as a case study in European integration. Applying the theoretical lenses of various European integration approaches (intergovernmentalism, domestic politics, neofunctionalism and an 'expertocratic' approach) it seeks to explain the creation of the SGP as well as its subsequent implementation. The findings show that these approaches are able to illuminate different parts of the process. The article thus argues that only an eclectic combination of the approaches provides a satisfactory theoretical explanation of the SGP as a fundamental element of the rules-based economic and monetary union (EMU) regime.

Suggested Citation

Heipertz, Martin and Verdun, Amy C., The Stability and Growth Pact - Theorizing a Case in European Integration. Journal of Common Market Studies, Vol. 43, No. 5, pp. 985-1008, December 2005. Available at SSRN: https://ssrn.com/abstract=857635 or http://dx.doi.org/10.1111/j.1468-5965.2005.00605.x

Martin Heipertz (Contact Author)

European Central Bank - International and European Relations ( email )

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

Amy C. Verdun

University of Victoria - Political Science ( email )

P.O. Box 3050 STN CSC
Victoria, BC, V8W 3P5
Canada

HOME PAGE: http://web.uvic.ca/polisci/faculty/faculty/verdun.htm

Institute of Political Science ( email )

Postbus 9500
Leiden, 2300 RA
Netherlands

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