1. Introduction
2. European public goods in the neo-medieval model of governance. 10
Theory of public goods. 12
What are public goods?. 13
Externalities and the role of state. 15
Problems in the provision of public goods. 17
European public goods. 20
Neo-medieval paradigm.. 22Problems of neo-medievalism.. 27
Neo-medieval provision of European public goods?. 29
Conclusion. 33
3. The European Union as a Republic. 35
Public goods in the European context 36
Governing externalities. 37
The Concept of the Republic. 42
Historic roots. 42
The Republic and the State. 43
The Logic of Public Goods. 45
Public goods, Republics and Citizenship. 46
Incentive Structures for the provision of
public goods. 48
The Euro and the European Republic. 51
Democracy and the Principal-Agent Relationship. 53
State and Republic. 53
The Sovereignty of the Citizens against the Power of the State?. 55
The Federal Order of the Republic. 59
Conclusion. 63
4. On paradigms and public goods: Has the crisis changed the economic paradigm of EMU? 65
The crisis and the Euro Area’s dominant paradigm.. 65
Studying policy paradigms. 68
Ideas and paradigms in the study of policy-making. 68
The three orders of policy change. 70
The policy paradigm of ‘stable money and sound finances’ 74
Stable money. 74
Sound finances. 76
The separation of monetary and fiscal policy. 78
Major responses to the Euro Area crisis: within or beyond EMU’s paradigm?. 79
The case of EMU fiscal surveillance reform.. 79&
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The case of the ECB’s non-standard monetary policy measures. 82
Conclusion. 87
5. Principals and Agents in European Democracy. 91
The Pre-crisis Discussion about the Democratic Deficit of the European Union. 92
Discussing Europe — The Standard Version of the Democratic Deficit 92
Examining the Deadlock between Majone, Moravcsik and Hix. 93
Discussion of the Deadlock. 96
Applying the principal-agent Model to the Debate on Democratic Deficit 97
Explaining the Principle-Agent Model 97
Benefits and Costs Associated with Member States Delegation to Supranational Agents. 98
What does principal-agent theory tell us about the EU’s Democratic Deficit?. 99
Reforms in the Lisbon Treaty. 102
What does Pollack say about the European Parliament?. 103
Delegation and Legitimacy – the Principals’ Perception and the Centrality of
the Public Discourse 106
Institutional discourses in the European Union. 107
The Discussion about the Democratic Deficit after the Lisbon Treaty. 108
‘The Euro Crisis’ or ‘how member states took the power away from the people’ 111
The European Union and the Erosion of the Permissive Consensus. 113
Europe and its Political Response to the Euro Crisis. 114
Conclusion: Outlining the Agency Slack. 121
Conclusion. 124
6. Why Does EU Governance Change?. 131
The Frame Of Integration. 133
Economic Causes For Governance Problems. 133
Economically Adequate Governance. 135
Explaining integration. 138
Exogenous Shocks. 139
Endogenous Efforts. 141
The Public Goods Approach in a Nutshell 144
Two Crises That Shook The EU.. 146
Testing the theory. 146
Make The Approach Visible &Selecting Cases. 14
7
Case Studies. 149
Synthesis. 171
Conclusion. 173
7. The ASEAN Economic Community (AEC) As A Public Good. 174
Background of ASEAN Integration. 175
From Political to Economic Cooperation. 175
The ASEAN Economic Community. 177
ASEAN Way. 180
ASEAN’s Potential 183
The AEC as a Public Good. 184
Obstacles to ASEAN Economic Integration. 187
Increasing Externalities. 187
Different Marginal Benefits and Costs. 192
Developmental Gaps and the Lack of Leadership or a Redistributive Mechanism.. 196
No Mechanism for Preference Revelation. 199
Strengthening ASEAN Institutions for the Better Governance of ASEAN Public Goods. 200
Central Level or Voluntary Cooperation?. 200
The Case for Increased Institutionalisation. 202
New Procedural Rules for ASEAN?. 205
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Bibliography
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