Voting for Change: Calculation, Community, and Euro Referendums

Referendum votes on adoption of the euro in Denmark (2000) and Sweden (2003) provide unprecedented natural experiments through which to study the political economy of money. Using exit polling data and multinomial logit statistical models that allow us to separate preferences for the euro from prefe...

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Bibliographic Details
Published in:International organization 2007-10, Vol.61 (4), p.763-782
Main Authors: Jupille, Joseph, Leblang, David
Format: Article
Language:English
Subjects:
Communities
Community
Computation
Currency
Data
Denmark
Economic and Monetary Union
Economic models
Euro
Europe
European integration
European Union
Exchange Rate
Exchange rates
Experiments
Fixed exchange rates
Floating exchange rates
Foreign exchange rates
Individual differences
International relations
Money
Political attitudes
Political Economy
Politics
Referendums
Sovereignty
Statistical analysis
Sweden
Unilateralism
Voting
Voting behaviour
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Summary:Referendum votes on adoption of the euro in Denmark (2000) and Sweden (2003) provide unprecedented natural experiments through which to study the political economy of money. Using exit polling data and multinomial logit statistical models that allow us to separate preferences for the euro from preferences for the European Union (EU), we test economic “calculation” and political “community” as determinants of individual-level preferences over adoption of the euro. We find that “calculation” operates most clearly where, as in Sweden, the choice of a fixed versus a floating exchange rate regime is at stake, while “community” exerts strong effects across the two cases.We would like to thank Krister Andersson, Jerry Cohen, Robert Fishman, Jennifer Fitzgerald, Jeff Frieden, Eric Helleiner, Jacques Hymans, Lars Jonung, Kate McNamara, Jennifer Wolak, and the anonymous reviewers for helpful comments, and Helga Sverrisdottir for outstanding research assistance. We are grateful to Jens Wagner of the Danish Data Archive and Torbjörn Berglund of the Swedish Social Science Dataservice for providing the data used in this note. Neither these individuals nor their respective agencies are responsible for the interpretations contained herein.
ISSN:0020-8183
1531-5088
DOI:10.1017/S0020818307070269