Chapter

The Challenges of Globalization and Europeanization: The Impact on National Autonomy and Control

Vivien A. Schmidt

in The Futures of European Capitalism

Published in print August 2002 | ISBN: 9780199253685
Published online November 2003 | e-ISBN: 9780191600210 | DOI: http://dx.doi.org/10.1093/0199253684.003.0002
The Challenges of Globalization and Europeanization: The Impact on National Autonomy and Control

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While globalization has been a major economic, institutional, and ideational force for change, Europeanization has been an even more significant force for European Union member‐states, both as a conduit for global forces and as a shield against them. But however much sovereignty has been undermined by globalization and Europeanization, the resulting losses in national autonomy and control are largely offset by gains in shared supranational authority and control. This chapter considers the changing relations of power and influence between national and supranational authorities as it examines the debates on globalization with regard to the internationalization of financial markets and trade, the ‘statelessness’ of multinationals, and their spillover effects on the welfare state. It then contrasts the impact of globalization with the greater impact of Europeanization on European member‐states while discussing European monetary and market integration and their effects on the welfare state.

Keywords: European Union; Europeanization; financial markets; globalization; market integration; multinationals; sovereignty; supranational authority; trade; welfare state

Chapter.  18671 words.  Illustrated.

Subjects: Comparative Politics

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