From volatility to change: Examining linkages between crisis-learning and the reform of EU economic governance

In the aftermath of major financial crises politicians are called to design more resilient institutions. Despite the recurring nature of this challenge, public policy research is ambiguous on how learning affects the scope and the content of post- crisis policy change. This ambiguity extends in the field of European studies as it lacks a comprehensive account of how crisis-induced learning influenced the structuring of EU economic governance overtime. Employing a wide range of qualitative material, the paper aims to address this gap by discussing when and how crisis-induced lessons influence actors’ preferences vis-a-vis the reform of EU economic governance. The analysis contributes to the field of EU studies and public policy by offering a comprehensive examination of the linkage between crisis-induced learning and institutional reform in the field of European economic governance. It also contributes to the literature that studies the Commission’s and the ECB’s behaviour, while it also adds to the scholarly work that studies state choices in the EMU. Finally, it has practical value for policymakers as it offers insights on what lessons lead to more crisis resilient institutions.