IDEAS home Printed from https://ideas.repec.org/a/bla/jcmkts/v58y2020i2p419-437.html
   My bibliography  Save this article

Incoherence in Regime Complexes: A Sentiment Analysis of EU‐IMF Surveillance

Author

Listed:
  • Michael Breen
  • Dermot Hodson
  • Manuela Moschella

Abstract

The proliferation of international institutions means that states can be subject to multiple, overlapping and potentially incoherent international obligations. The regime complexity literature draws attention to this problem but says little about its character and causes. This article investigates whether and why two key components of the international economic surveillance regime – the International Monetary Fund (IMF) and the European Union (EU) – impose conflicting obligations on the same states. Based on a comparative sentiment analysis of more than 400 surveillance documents and using differences in tone as a proxy for incoherence, our results show that the IMF was more pessimistic about member states' economic policies before the global financial crisis but less so thereafter. Our results suggest that differences in discretionary authority rather than the distribution of power drove such incoherence, with the EU's fiscal rules encouraging less pessimism before the global financial crisis and more pessimism thereafter.

Suggested Citation

  • Michael Breen & Dermot Hodson & Manuela Moschella, 2020. "Incoherence in Regime Complexes: A Sentiment Analysis of EU‐IMF Surveillance," Journal of Common Market Studies, Wiley Blackwell, vol. 58(2), pages 419-437, March.
  • Handle: RePEc:bla:jcmkts:v:58:y:2020:i:2:p:419-437
    DOI: 10.1111/jcms.12924
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/jcms.12924
    Download Restriction: no

    File URL: https://libkey.io/10.1111/jcms.12924?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Cécile Couharde & Hamza Bennani & Yoan Wallois, 2021. "Do IMF Reports Affect Market Expectations ? A Sentiment Analysis Approach," Working Papers hal-04159751, HAL.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jcmkts:v:58:y:2020:i:2:p:419-437. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0021-9886 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.