Iceland on the Rocks: The Mass Political Economy of Sovereign Debt Resettlement

Abstract We undertake an individual-level analysis of mass political behavior toward sovereign debt resettlement by leveraging the unique circumstances of a 2011 referendum on debt repayment in Iceland. This allows us to engage broader questions about mass international political economy. Against th...

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Bibliographic Details
Published in:International Organization
Main Authors: Curtis, K. Amber, Jupille, Joseph, Leblang, David
Format: Article in Journal/Newspaper
Language:English
Published: Cambridge University Press (CUP) 2014
Subjects:
Law
Organizational Behavior and Human Resource Management
Political Science and International Relations
Sociology and Political Science
Iceland
Online Access:http://dx.doi.org/10.1017/s0020818314000034
https://www.cambridge.org/core/services/aop-cambridge-core/content/view/S0020818314000034
Description
Summary:Abstract We undertake an individual-level analysis of mass political behavior toward sovereign debt resettlement by leveraging the unique circumstances of a 2011 referendum on debt repayment in Iceland. This allows us to engage broader questions about mass international political economy. Against the recent thrust of a growing literature, we find evidence of material economic “pocketbook” effects—self-interest—on voting behavior, operating alongside symbolic/sociotropic and partisan/political logics. Contrary to expectations, these self-interest effects are not conditional on voter sophistication. We conclude that conventional sampling frames may be inappropriate for understanding contemporary democratic contestation over international economic policy.

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