Dissertations submitted to the Hertie School
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02/2015
The first decade of this century witnessed a transformation of the German financial system from a hitherto bank-based system towards a hybrid system containing elements of both bank-based and market-oriented systems. This hybrid structure was decisive for the German banking sector having been comparatively severely affected by the global financial crisis of 2008, as it had generated an environment partially prone to inadequate risk-taking of some banks. For that reason, the causes for the development of such a hybrid structure are critical in understanding the later development. While much has been written on the German financial system, both before and after the latest crisis, the existing research is less clear on the underlying
factors that have actually led to the development of such a hybrid structure. [...]
04/2014
The decision to establish an Economic and Monetary Union (EMU) marked a momentous change in the history of the European Union: By introducing a common currency and a single monetary policy at the European level, the institutions and practices of economic governance in the EU were transformed. At the same time, EMU created new economic structures and actors at the heart of the international macroeconomic system – with novel and potentially far-reaching implications for policy-making in international financial institutions (IFIs).
How does the EU govern its external relations in international financial institutions? And what explains the patterns of EU unity in IFIs? The dissertation pursues both a descriptive and an explanatory goal, as reflected in the two guiding research questions. I take an encompassing view to studying the EU’s external relations. Representation of the EU in international organizations and fora is an important element, yet it is only part of a longer and more complex story: Before any common position can be communicated or represented at the international level, European actors need to decide on it in the first place. The internal aggregation and authorization of external policies and positions in a poly-centric political system is thus a vital ingredient to the governance of the EU’s external relations in IFIs.(...)