Describing and analyzing the links between monetary policy and economic governance in small countries in both Western and Eastern Europe, this interdisciplinary volume demonstrates how interest groups shape monetary policy decisions in increasingly globalized financial markets. The contributors' findings hold great relevance even for large contries like the United States, which are now struggling with the challenges of internationalization. A diverse group of political scientists and economists, the contributors contend that although the small states have limited options, they are nonetheless able to make choices that enable their export industries to flourish in an environment of increasing internationalization. The authors conclude that lack of control over the future shape of monetary union in Europe is not inimical to future prosperity.

part Part One|18 pages


chapter 1|16 pages

Small European States and the Challenge of Globalization

ByRandall W. Kindley

part Part Two|33 pages

The Geopolitical Setting

part Part Three|90 pages

International Monetary Policy and Institutions

chapter 4|19 pages

Denmark and European Integration

ByNiels Thygesen

chapter 5|15 pages

The Reluctant Enthusiast: Finland and the European Union

ByPekka Sutela

chapter 6|20 pages

Institutional Choice in Transition Economies: The Baltic Monetary Reforms

BySeija Lainela, Pekka Sutela

part Part Four|77 pages

Neocorporatism and Its Alternatives

part Part Five|22 pages