The Knowledge Problems of European Financial Market Integration: Paradoxes of the Market

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Troels Krarup

The Knowledge Problems of European Financial Market Integration

Paradoxes of the Market

Troels Krarup

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Paperback

Forthcoming
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English

Routledge
18 December 2024

Politics & government; Economic theory & philosophy; International economics; Political economy; Finance & accounting

Series: Routledge Frontiers of Political Economy

Since the creation of the euro and a European Central Bank, the European Union has persistently pursued financial market integration throughout periods of economic growth, membership enlargements, financial breakdown, and political crisis. While traditionally analysed in terms of clashing ideological orientations and strategic political interests, this book presents a novel and empirically grounded perspective on the issues around financial market integration by approaching them in terms of the knowledge problems that actors face.

Drawing on European legal texts, policy documents and interviews with regulators, central bankers, and financial market professionals, this book is rich in empirical detail which reveals a close-knit set of knowledge problems, or paradoxes, of ‘the market’. These paradoxes are irreducible to a particular political ideology or national interests because they are rooted in the conceptual structure of the European treaties. Moreover, while these knowledge problems present themselves as uncertainties, tensions, and conflicts in practice, they also echo persistent conceptual and theoretical controversies in the field of economics. Indeed, this book demonstrates how ‘the market’ is adopted from economic theory into European treaty law, resulting in central bankers and regulators struggling with knowledge problems and conflicts paralleling classic debates in the academic discipline.

This book will be of significant interest to political economists working on European economic integration and money and finance as well as readers of heterodox economics, economic sociology, and political and social theory more broadly.

By: Troels Krarup
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 156mm,
ISBN: 9781032212241
ISBN 10: 1032212241
Series: Routledge Frontiers of Political Economy
Pages: 138
Publication Date: 18 December 2024
Audience: College/higher education , Primary
Format: Paperback
Publisher's Status: Forthcoming

Chapter 1. Introduction: A Problem Called ‘the Market’ Chapter 2. The ‘Archaeology’ of Paradoxes: Methodology and Materials Chapter 3. The Constitutional Problem of Competition in the EU Chapter 4. ‘Infrastructure’ between Competition and Centralisation Chapter 5. Money and the ’Level Playing Field’: Economic Theory meets Market Integration Chapter 6. The Liquidity Problem of Contemporary Finance Chapter 7. Conclusion

Troels Krarup, Associate Professor, Aalborg University, Denmark.

Reviews for The Knowledge Problems of European Financial Market Integration: Paradoxes of the Market

'This fascinating book provides an original and authoritative account of the hugely consequential and often perplexing nature of financial ‘market’ integration in the EU. It will be an excellent resource for political economists, legal scholars, and sociologists of finance as well as of European integration.' Dr Sebastian Diessner, Leiden University