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The influence of domestic interest groups on the Dutch position on quantitative easing

Couwenberg, S. (2019) The influence of domestic interest groups on the Dutch position on quantitative easing.

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Abstract:The Dutch Central Bank (de Nederlandsche Bank, DNB) voted against the quantitative easing (QE) programme which was initiated in 2015 by the European Central Bank (ECB). Based on Moravcsik’s (1993) liberal intergovernmentalism, national positions are determined through a process of national preference formation in which domestic interest groups adopt a position on specific policies and attempt to influence the government. However, in this case it is the DNB which represents the Netherlands and the question is whether the theory is also capable of explaining the relation with a special institution such as an independent central bank. This study will examine to what extent domestic groups influenced the Dutch government more generally and the DNB more specifically to adopt a negative position on QE. This will be done by charting the positions and motivations of some domestic interest groups, the Dutch government and the DNB. Liberal intergovernmentalism speaks of national governments only, however this study shows that the framework is also applicable to study central banks. It was found that the DNB took the lead in the formation of the national preference position and not domestic groups or the national government. This corroborates the independence of the DNB.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:70 social sciences in general, 83 economics, 88 social and public administration, 89 political science
Programme:Management Society and Technology BSc (56654)
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