Crises and Integration in European Banking Union: To Build or To Burn

Crises have been a primary driver of European integration, but there is no theory to identify which crises are most likely to produce integrating reform. Crises and Integration in European Banking Union builds a theory of how the combination of crisis severity and origin indicates whether a crisis will produce deep reform, modest reform, or a persistence of the pre-crisis status quo. It examines the relative impact of a series of crises on the centralization of European financial regulation and provides a foundation for policymaking in response to future crises.

Format: Hardback
Length: 384 pages
Publication date: 21 December 2023
Publisher: Oxford University Press

Scholars, policymakers, and other observers widely believe that crises play a crucial role in driving European integration. While numerous crises have indeed facilitated deeper integration, there are also instances where crises failed to yield meaningful advancements or even resulted in disintegration. The literature on European integration has yet to establish a comprehensive theory to predict which crises are most likely to result in integrating reforms ex ante.

To address this gap, Crises and Integration in European Banking Union develops a theoretical framework that examines the interplay between crisis severity and origin to determine the outcome of a crisis in terms of deep reform, modest reform, or the persistence of the pre-crisis status quo. In doing so, the book makes a significant contribution to the literature on European financial regulation and the steps required to achieve a complete European banking and capital markets union.

The volume not only fills a significant theoretical void but also provides a foundation for policymakers to develop effective responses to future crises by identifying the challenges that offer the potential for deeper integration. By constructing a framework to analyze the factors that influence crisis outcomes, the book empowers policymakers to make informed decisions and implement policies that promote stability, resilience, and further integration within the European Union.

In conclusion, Crises and Integration in European Banking Union is a valuable resource for scholars, policymakers, and anyone interested in understanding the dynamics of European integration and the role of crises in shaping its trajectory. By providing a comprehensive theoretical framework and offering practical insights, the book contributes to our understanding of the complex processes driving European integration and offers valuable guidance for policymakers seeking to navigate the challenges of the future.

Weight: 728g
Dimension: 240 x 164 x 25 (mm)
ISBN-13: 9780198889069