Project description
A closer look at the institutional dimension of the crisis
The financial crisis (2007-2008) and the ensuing Great Recession and European sovereign debt crisis sent shock waves throughout the EU. Related to the economic and social impact of the crisis, the institutional dimension is important, particularly the economic institutions of the monetary union. How did the crisis impact the relationship between the Member States and the EU, as well as the institutional status quo? The EU-funded INSTITUTIONS project will explore the future institutional framework. It will investigate the possibility of devising a critical theory of institutions in general, and of economic institutions in particular. Offering a first dedicated and exclusive delineation of a critical theory of economic institutions, the findings will provide an important resource for scholars of economic institutions.
Objective
The global financial crisis of 2007-2008 that was followed by The Great Recession and European sovereign debt crisis caused the biggest economic downturn since the Great Depression in 1930s. In Europe, the economic crisis developed into a serious political challenge to the (economic) institutions of monetary union and the existing institutional framework of the European Union as well. The future of the institutional framework of the EU will vastly depend upon a comprehensive theoretical and interdisciplinary assessment. Although academic study of the subject of (social) institutions is on the rise in ethics, sociology and politics, it remains unjustifiably underdeveloped in economics. The proposed study investigates the possibility of devising a critical theory of institutions in general, and of economic institutions in particular. It expounds critical contributions to the understanding of economic institutions from a variety of disciplinary fields and it contributes to the establishment of a multidisciplinary account of social validity, economic function, ethical normativity, and political foundation. Additionally, it would represent a landmark study in critical theories of economic institutions – filling a definite gap in the literature, offering a first dedicated and exclusive delineation of a critical theory of economic institutions. Finally, it would act as an instructive case study, offering an indispensable resource for scholars of economic institutions, and provide a robust analytical framework for the assessment of raison d’etre of institutions and institutional reform. With an eye to project's overall success, the study will be conducted at an academic environment of leading experts on critique of political economy and critical theory. Hence, it will endow the fellow with ground-breaking expertise in agenda-setting and action-oriented research, strengthen the academic and interdisciplinary prowess and open the path to independent and further research.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- social sciences sociology
- social sciences economics and business economics monetary and finances
- social sciences economics and business economics political economy
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.1.3. - EXCELLENT SCIENCE - Marie Skłodowska-Curie Actions
MAIN PROGRAMME
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H2020-EU.1.3.2. - Nurturing excellence by means of cross-border and cross-sector mobility
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
MSCA-IF - Marie Skłodowska-Curie Individual Fellowships (IF)
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-MSCA-IF-2019
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
YO10 5DD YORK NORTH YORKSHIRE
United Kingdom
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.