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Rettungsprogramme und „Ownership“ – Irland, Portugal und Griechenland im Vergleich

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  • Jens Boysen-Hogrefe
  • Ulrich Stolzenburg

Abstract

While euro area adjustment programmes in Ireland and Portugal were successfully completed – more or less in accordance with projections – the second adjustment programme for Greece failed, with substantial deviations between target figures and economic reality. To determine causes for the success or failure of adjustment programmes, the authors compare the three countries with regard to the economic and political environment, programme intensity and “ownership”. They also discuss the role of political uncertainty in the widely discussed under-estimation of fiscal multipliers and in the Greek crisis of 2015. Finally, the authors address possible implications for the future design of rescue mechanisms in the euro area. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2015

Suggested Citation

  • Jens Boysen-Hogrefe & Ulrich Stolzenburg, 2015. "Rettungsprogramme und „Ownership“ – Irland, Portugal und Griechenland im Vergleich," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 95(8), pages 534-540, August.
    • Handle: RePEc:spr:wirtsc:v:95:y:2015:i:8:p:534-540
    DOI: 10.1007/s10273-015-1862-3
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    Citations

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    Cited by:

    1. Ademmer, Martin & Boysen-Hogrefe, Jens & Fiedler, Salomon & Groll, Dominik & Jannsen, Nils & Kooths, Stefan & Potjagailo, Galina & Stolzenburg, Ulrich, 2017. "Deutsche Konjunktur im Winter 2017 - Deutsche Wirtschaft in voller Fahrt [German Economy Winter 2017 - German economy at full steam]," Kieler Konjunkturberichte 38, Kiel Institute for the World Economy (IfW Kiel).
    2. Boysen-Hogrefe, Jens, 2017. "Risk assessment on euro area government bond markets – The role of governance," Journal of International Money and Finance, Elsevier, vol. 73(PA), pages 104-117.
    3. Boysen-Hogrefe, Jens & Stolzenburg, Ulrich, 2017. "Regierungsbildung mit Hindernissen: Hemmt die Unsicherheit die deutsche Konjunktur?," Kiel Insight 2017.18, Kiel Institute for the World Economy (IfW Kiel).

    More about this item

    Keywords

    E65; F34; F53;
    All these keywords.

    JEL classification:

    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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