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  5. How do ideas shape national preferences? The Financial Transaction Tax in Ireland
 
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How do ideas shape national preferences? The Financial Transaction Tax in Ireland

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Download Hardiman_and_Metinsoy,_How_do_ideas_shape_national_preferences._Oct_2017.pdf880.49 KB
Author(s)
Hardiman, Niamh 
Metinsoy, Saliha 
Uri
http://hdl.handle.net/10197/9205
Date Issued
October 2017
Date Available
24T16:02:52Z January 2018
Abstract
European countries have been required to formulate a national preference in relation to the EU Financial Transaction Tax. The two leading approaches to explaining how the financial sector makes its views felt in the political process – the structural power of the financial services sector based on potential disinvestment, and its instrumental power arising from direct political lobbying – fall short of providing a comprehensive account. The missing link is how and why policy-makers might be willing to adopt the priorities of key sectors of the financial services industry. We outline how two levels of ideational power might be at work in shaping outcomes, using Ireland as a case study. We argue firstly that background systems of shared knowledge that are institutionalized in policy networks generated broad ideational convergence between the financial sector and policymakers over the priorities of industrial policy in general. Secondly, and against that backdrop, debate over specific policy choices can leave room for a wider range of disagreement and indeed political and ideational contestation. Irish policymakers proved responsive to industry interests in the case of the FTT, but not for the reasons normally given. This work seeks to link literatures in two fields of inquiry. It poses questions for liberal intergovernmentalism in suggesting that the translation of structurally grounded material interests into national policy preferences is far from automatic, and argues that this is mediated by ideational considerations that are often under-estimated. It also contributes to our understanding of how constructivist explanations of policy outcomes work in practice, through a detailed case study of how material and ideational interests interact.
Sponsorship
European Commission Horizon 2020
Type of Material
Working Paper
Publisher
EMU Choices
Start Page
1
End Page
41
Keywords
  • Economic integration

  • Multinational firms

  • International busines...

  • Globalization

  • Business taxes and su...

  • Intergovernmental rel...

Classification
F02
F15
F23
F55
F68
H25
H70
P16
DOI
http://hdl.handle.net/10197/9205
Web versions
http://emuchoices.eu/2017/10/16/hardiman-n-and-metinsoy-s-2017-how-do-ideas-shape-national-preferences-the-financial-transaction-tax-in-ireland-emu-choices-working-paper-2017/
Language
English
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License
https://creativecommons.org/licenses/by-nc-nd/3.0/ie/
Owning collection
Politics and International Relations Research Collection
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1672
Acquisition Date
Jan 29, 2023
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