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The Futures of European Capitalism$
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Vivien A. Schmidt

Print publication date: 2002

Print ISBN-13: 9780199253685

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0199253684.001.0001

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The Dynamics and Mechanics of Policy Adjustment in Britain, Germany, and France

The Dynamics and Mechanics of Policy Adjustment in Britain, Germany, and France

(p.59) 2 The Dynamics and Mechanics of Policy Adjustment in Britain, Germany, and France
The Futures of European Capitalism

Vivien A. Schmidt (Contributor Webpage)

Oxford University Press

Whatever the convergent pressures of globalization and Europeanization, countries have manifested divergent policy responses, depending upon a number of significant variables. This chapter identifies five mediating factors that shed light on the dynamics of policy adjustment—economic vulnerability, political institutional capacity, policy legacies, policy preferences, and discourse—to elucidate the different sequencing of responses of Britain, Germany, and France in monetary, industrial, labour, and social policy. It then adds the EU‐specific institutional constraints—the decisions that may provide more or less specified rules, suggested rules, or no rules at all—to help explain the mechanics of policy adjustment in such sectors as European monetary integration, financial services, telecommunications, electricity, and transport.

Keywords:   Britain, discourse, European Union, Europeanization, France, Germany, globalization, institutional constraints, policy adjustment, policy responses

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