The politics of mortgage credit expansion in the small coordinated market economies

Abstract

Recent contributions to the comparative political economy literature claim that liberal market economies are vulnerable to asset booms and busts because of financial deregulation, shrinking welfare states and a political ideology emphasising financial self-sufficiency. This article examines the rapid expansion of mortgage lending in three coordinated market economies (CMEs): Denmark, Sweden and the Netherlands. This expansion is puzzling given that all three countries are CMEs with generous welfare states. Yet the pattern of mortgage lending resembles the Anglo-Saxon or liberal market economies (LMEs) more than other CMEs. The article argues that mortgage bubbles in the small CMEs emerged as the unintended outcome of pairing neoliberal programmes to expand home ownership with collectivist housing institutions. This resulted in supply restrictions and rising property values which saddled households with extraordinarily high mortgage debts. In short, mortgage credit bubbles are not unique to Anglo-liberal welfare states and may have different origins.     

公共服务的竞争性外包:比较丹麦和瑞典的政策与执行

本文比较和分析了丹麦和瑞典对公共服务实行竞争性外包的道路。人们通常认为 ,这两个国家不存在或者只有少量的外包现象。但事实正好相反 ,这两个国家都有很长的将公共服务外包出去的历史 ,而且自从 2 0世纪 80年代就开始争论和执行竞争性外包政策了。     

Digital citizenship and neoliberalization: governing digital citizens in Denmark

Digital citizenship is becoming increasingly normalized within advanced democratic states. As society and governmental institutions become reliant on digital technologies, citizens are expected to be and act digitally. This article examines the governance of digital citizens through a case study of digitalization efforts in Denmark. Drawing on multiple forms of data, the article showcases how digital citizens are governed through a combination of discursive, legal and institutional means. The article highlights the political, but also institutional work that goes into making citizens digital. Providing this case study, the article contributes to current critical perspectives on the digital citizen as a new political figure. It adds new insights into digital citizenship by connecting this figure to wider processes of neoliberalization and state restructuring, pushing for a more pronounced focus on governmental practices.     

A Comparative Study of Denmark and New Zealand’s National Health Targets

This paper investigates the influence of nationally imposed health targets on current management control practices in New Zealand and Denmark. It reveals how variants of New Public Management (NPM), arising from specific historical socio-political contexts, rise to the challenge of national differences. The study finds that both nations are challenged to ensure data registration procedures produce valid and comparable performance measures. Denmark’s reliance on a single efficiency measure of health sector performance reflects a historic socio-political context that reduces the feasibility of additional measures whereas New Zealand’s context enables the government to impose a more extensive range of health targets.     

Reflections on Elections: Scot‐Nat Fizz,Lib‐Dem Dregs

Alec Salmond's SNP, old politics and fingertips, won a landslide. The Lib Dems, free to confine the Tory plurality, chose the wooden spoon of office.     

Friendship,Courting, and Engagement: Pre-electoral Coalition Dynamics in Action

The literature on pre-electoral coalitions (PECs) still relies heavily on comparative statics to gauge whether a PEC is likely to form and/or its effects on government formation. However, less is known about the behavioural dynamics of PECs. The dynamics of the recent 2009 PEC between the Socialist People's Party and the Social Democrats in Denmark are assessed. Elaborating on the signalling hypothesis, it is argued that coalition members over time must show their ability to vote together in parliament in order to establish a credible commitment. Empirical support is found for this take on the signalling thesis. It was also found that the distance between the parties narrows before the formulation of the PEC, and distinct phases in the process are pointed to, which the authors coin ‘friendship’, ‘courting’, and ‘engagement’. Finally, alternative explanations are assessed and the question of which party of the PEC would have to change voting patterns in the inter-party coordination process in order to become 'office-fit' is addressed. It is concluded that PECs have a systematic effect on the members' parliamentary voting behaviour and that they serve as a preparatory signalling device for opposition parties with office ambitions.     

Greenland from a Commonwealth Perspective

A Commonwealth perspective provides a useful comparative framework for understanding Greenland’s contemporary situation. There are parallels between the constitutional evolution of the Commonwealth, particularly in relation to the British dominions, and Greenland’s autonomous status within the Kingdom of Denmark. There is also a useful Commonwealth perspective on the issue of whether financial support from a metropole continues or becomes less in the event of an autonomous territory moving to full independence. Greenland’s situation also warrants comparison with the many small states within the Commonwealth, given that an independent Greenland would be very much a small state in population terms. As a predominantly indigenous Inuit society, Greenland can also be compared with ‘developed’ Commonwealth countries such as Australia, Canada and New Zealand where indigenous issues are important even though indigenous peoples are in a minority. Going beyond the comparative perspective, Greenland is relevant to specific Commonwealth countries, most notably Canada and the United Kingdom; other Commonwealth countries such as Singapore, India and Australia also have some interests relating to Greenland. Also beyond the comparative perspective Greenland is significant not just for the Commonwealth but for the whole world because of its position in relation to climate change.     

Still a poster child for social investment? Changing regulatory dynamics of early childhood education and care in Denmark and Sweden

This paper investigates the regulation of publicly organized early childhood education and care (ECEC) in Denmark and Sweden, through the regulatory welfare state (RWS) framework. The analysis focuses on how alterations in funding and quality of care are shaped by governmental and nongovernmental actors at national and local levels of government. Through focused structured analysis, we examine how various actors have shaped the funding and quality of childcare in Denmark and Sweden, from the early 2000s to 2020, with special attention to the period during and after the 2008 financial crisis. In the aftermath of the financial crisis, concerns about quality in care were raised on the political agenda by various actors in both countries, leading to decisions to improve the quality of care. Yet, the regulatory dynamics differ: In Denmark, the debate led to a decision in 2019, to implement a minimum statutory requirement of regulatory quality standards. From an RWS perspective, this outcome can be qualified as “double expansion,” because regulatory quality standards, and public funding for childcare increased. In Sweden, the debates about quality of ECEC led, in 2016, to political guidelines about quality standard, but with no additional national funds, and no mandatory regulatory quality requirements. Analytically, this can be qualified as “regulatory-led expansion,” that is requirements for quality standards, although the lack of additional national funds suggests that it will be difficult to improve ECEC quality substantially. The RWS perspective, which focuses on national and municipal levels of governance, also gives insights into hidden inequalities between municipalities regarding funding and quality of ECEC, which are more pronounced in Sweden than in Denmark.     

Public Sector Reforms: New Public Management without Marketization? The Danish Case

Is it possible to imagine New Public Management without marketization? In Denmark the present liberal-conservative Government has, throughout its 10 years in power, designed and implemented more than 15 major management reforms in the public sector. Although most of the reforms are rhetorically firmly rooted in neo-liberal ideologies they have, in practice, promoted tools and mechanisms of the “traditional,” or Old, Public Management. Based on an empirical study of the reforms, we suggest that the notion of “pragmatic” New Public Management is introduced to enhance the current understanding of New Public Management in the Western industrialized societies.     

Understanding Change in Committee Assignments between Elections: Evidence from the Danish Case

The study of committee assignment politics is very limited in parliamentary systems. Even more limited is the study of the change in committee assignments that occurs between elections. In this article, a first attempt to rectify this, both theoretically and empirically, is presented. What might have an impact on committee reassignments and what relationship one would expect to find are discussed. Using data of all Danish committee assignments 1994–2007, the proposed relationships are tested. The results show that: (1) it varies which parties experience the more change; and (2) it is often related to internal problems, but vote share, seniority and whether an MP is involved in a ministerial reshuffle or not also have a significant influence on change of committee assignments.