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Capital markets and tax policy making: A comparative analysis of European tax reforms since the crisis

Research output: Journal contributions › Journal articles › Research › peer-review

Standard

Capital markets and tax policy making: A comparative analysis of European tax reforms since the crisis. / Lierse, Hanna; Seelkopf, Laura.
In: Comparative European Politics, Vol. 14, No. 5, 09.2016, p. 686-716.

Research output: Journal contributions › Journal articles › Research › peer-review

Harvard

Lierse, H & Seelkopf, L 2016, 'Capital markets and tax policy making: A comparative analysis of European tax reforms since the crisis', Comparative European Politics, vol. 14, no. 5, pp. 686-716. https://doi.org/10.1057/cep.2014.48

APA

Lierse, H., & Seelkopf, L. (2016). Capital markets and tax policy making: A comparative analysis of European tax reforms since the crisis. Comparative European Politics, 14(5), 686-716. https://doi.org/10.1057/cep.2014.48

Vancouver

Lierse H, Seelkopf L. Capital markets and tax policy making: A comparative analysis of European tax reforms since the crisis. Comparative European Politics. 2016 Sept;14(5):686-716. doi: 10.1057/cep.2014.48

Bibtex

@article{7fa2bf13af0d45729e27c23d5077811d,
title = "Capital markets and tax policy making: A comparative analysis of European tax reforms since the crisis",
abstract = "Since the creation of monetary union, European governments have received loans from the international financial markets at low interest rates. The recent sovereign debt crisis has, however, once more revealed the structural dependence of capitalist governments on the capital markets. Countries such as Spain and Greece are charged unsustainable interest rates and their policy decisions have come under scrutiny by international bond holders who fear losing their investments. Based on a unique dataset of European tax policy decisions from 2008 to 2010, we show that financial market pressure, in the form of rising bond yields, has forced European governments to raise their taxes, especially in the more regressive field of indirect taxes. The findings suggest that capitalist democracies have little political room to maneuver and to conduct redistributive politics at times of high fiscal stress.",
keywords = "Capital Markets, European Union, Financial Crisis, Partisanship, Tax Policy, Sustainability sciences, Management & Economics",
author = "Hanna Lierse and Laura Seelkopf",
year = "2016",
month = sep,
doi = "10.1057/cep.2014.48",
language = "English",
volume = "14",
pages = "686--716",
journal = "Comparative European Politics",
issn = "1472-4790",
publisher = "Palgrave Macmillan",
number = "5",

}

RIS

TY - JOUR

T1 - Capital markets and tax policy making

T2 - A comparative analysis of European tax reforms since the crisis

AU - Lierse, Hanna

AU - Seelkopf, Laura

PY - 2016/9

Y1 - 2016/9

N2 - Since the creation of monetary union, European governments have received loans from the international financial markets at low interest rates. The recent sovereign debt crisis has, however, once more revealed the structural dependence of capitalist governments on the capital markets. Countries such as Spain and Greece are charged unsustainable interest rates and their policy decisions have come under scrutiny by international bond holders who fear losing their investments. Based on a unique dataset of European tax policy decisions from 2008 to 2010, we show that financial market pressure, in the form of rising bond yields, has forced European governments to raise their taxes, especially in the more regressive field of indirect taxes. The findings suggest that capitalist democracies have little political room to maneuver and to conduct redistributive politics at times of high fiscal stress.

AB - Since the creation of monetary union, European governments have received loans from the international financial markets at low interest rates. The recent sovereign debt crisis has, however, once more revealed the structural dependence of capitalist governments on the capital markets. Countries such as Spain and Greece are charged unsustainable interest rates and their policy decisions have come under scrutiny by international bond holders who fear losing their investments. Based on a unique dataset of European tax policy decisions from 2008 to 2010, we show that financial market pressure, in the form of rising bond yields, has forced European governments to raise their taxes, especially in the more regressive field of indirect taxes. The findings suggest that capitalist democracies have little political room to maneuver and to conduct redistributive politics at times of high fiscal stress.

KW - Capital Markets

KW - European Union

KW - Financial Crisis

KW - Partisanship

KW - Tax Policy

KW - Sustainability sciences, Management & Economics

UR - http://www.scopus.com/inward/record.url?scp=85008354871&partnerID=8YFLogxK

U2 - 10.1057/cep.2014.48

DO - 10.1057/cep.2014.48

M3 - Journal articles

AN - SCOPUS:85008354871

VL - 14

SP - 686

EP - 716

JO - Comparative European Politics

JF - Comparative European Politics

SN - 1472-4790

IS - 5

ER -

DOI