European Union Economic Diplomacy

The Role of the EU in External Economic Relations

European Union Economic Diplomacy Website price:£22.50 (Regular price: £25.00)
  • Stephen Woolcock, London School of Economics, UK
  • Series : Global Finance
  • The European Union is a key player in international economic relations, but its exact role and how it goes about making decisions and negotiating is often poorly understood within and especially outside the EU. When does the EU play a proactive role and when does it follow? When is the EU a distinct actor and when is it just one level in a multi- level process of negotiation in which the member states are the main actors? Does the EU possess normative power in external economic relations? Does the EU have the capability and willingness to use its still significant economic power? European Union Economic Diplomacy provides the first comprehensive analysis of the factors that determine the role of the EU in economic diplomacy. In an up-to-date treatment that includes consideration of the impact of the Treaty of Lisbon, it contains a comprehensive explanation of decision making and negotiating processes in the core areas of trade, financial market regulation, environmental diplomacy and development co-operation. The book is intended for those interested in EU policy making, but also those who simply need to understand how the EU functions in the field of economic diplomacy.

  • Contents: The European Union in economic diplomacy; A framework of analysis; EU external trade and investment policy-making; The European Union in international financial regulation; EU external environmental policy; EU development policy; Conclusions; Bibliography; Index.

  • About the Author: Dr Stephen Woolcock, London School of Economics, UK

  • Reviews: 'A fascinating academic contribution to deliver comprehensive accounts on the evolutionary development of economic diplomacy conducted by the European Union and by its executive arm, namely the European Commission. A great book to read not only for students and scholars, but also an extremely valuable intellectual input for trade diplomats as well as business persons outside the EU.'
    Yorizumi Watanabe, Professor of International Political Economy, Keio University, Japan and former Deputy Director-General, Ministry of Foreign Affairs, Japan

    'An important and much-needed analysis of the European Union's economic diplomacy. This study fills an important void in both the literature on the European Union and on the complex and often arcane informal and formal policy making processes which shape its economic diplomacy. It will be widely read by both practitioners and scholars.'
    Alberta Sbragia, University of Pittsburgh, USA

    'A very interesting read that illustrates the steady progress in the field of EU economic diplomacy in the past decades, in particular in the trade domain. The adoption of the Lisbon Treaty and the resulting new challenges and opportunities for EU economic diplomacy reinforce the relevance of the book. The analytical framework used in Dr Woolcock's work constitutes a significant contribution to the debate on EU economic diplomacy from both an academic viewpoint and that of practitioners.'
    Karel De Gucht, European Commissioner for Trade

    'The EU's external activities have grown enormously in the last decade: the Euro, the Lisbon Treaty, new leadership in EU Foreign Affairs, have all raised its global profile. The immense value of Woolcock's book is to trace this evolution systematically, starting from external trade which required an international presence - through wider relationships with non-EU countries and overseas development policies - to the vast policy panorama that exists today.'
    Roderick Abbott, ECIPE (European Centre for International Political Economy), Brussels, Belgium

    'Woolcock applies a framework for better understanding the process of the EU’s economic diplomacy through four case studies. Each of these case studies generate interesting insights and provide a clearly signposted path for further analysis. They are admirably detailed and provide a helpful historical overview of the development of the EU’s policy structures…This book more than adequately explains the development and practice of EU economic diplomatic decision-making, explaining that which is arcane, bringing illuminating analysis to that which is complex and dispelling that which is frustrating. Practitioners, academics and those trying to understand the complex EU structures will all find this book valuable.'
    LSE Review of Books blog

    'The book provides an up-to-date and comprehensive overview of the mechanics and evolution of EU foreign economic policy making… this book is likely to be an extremely useful resource for those scholars, students and practitioners with an interest in the foreign economic relations of the EU.'
    Political Studies Review

    'Woolcock makes a reference to the complicated decision making process in the EU, as well as the inability to understand it, and therefore sets an aim of explaining it. This is a task that he has accomplished with success, as the volume is a valuable source of information about EU economic diplomacy, different actors involved and the decision making, as well as negotiations’ process. Moreover, with its in-depth analysis and thorough explanations of the background behind the decision making of EU’s economic diplomacy, the book can be appreciated by students new to the topic as well as scholars aiming to acquire a more profound knowledge… the book provides a fundamental and extensive base for understanding the role of the EU in economic diplomacy as well as the different policies forming economic diplomacy.'
    Journal of Contemporary European Research

  • Extracts from this title are available to view:

    Full contents list

    Chapter 1 - The European Union in economic diplomacy

    Index


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