IPE@WU Podcast
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How does international political economy contribute to a better understanding of what is going on around us? Tune into the IPE@WU Podcast, where students ask thought-provoking questions and evaluate possible answers to selected puzzles.
Podcast episodes spring 2026
Why Did Austerity Hurt Greece’s Green Transition but Help Portugal’s?
During the Eurozone crisis, Greece and Portugal faced harsh austerity and limited fiscal space.
Greece’s debt crisis stalled environmental investment, while Portugal used EU funds and policy coordination to expand renewable energy. Political vision and administrative capacity shaped these contrasting outcomes.
Authors: Lotte Ammann, Miriam Schindler, Linus Wetzer
Language: English
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Why did Argentina go bankrupt - while Uruguay remained stable?
At the beginning of the 2000s, Argentina and Uruguay were under almost identical debt and financial pressure.
While Argentina became insolvent and collapsed politically, Uruguay stabilized. Rapid crisis management, international support and institutional credibility made the difference.
Authors: Sebastian Fröhlich, Elisa Graml, Gregor Hoffmann
Language: English
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Why did debt destabilize democracy in Argentina but strengthen it in Brazil?
At the beginning of the 2000s, Argentina and Brazil were highly indebted democracies under strong market pressure.
Argentina's default led to political chaos, while Brazil under President Lula maintained stability and expanded social policy - thus strengthening democracy.
Authors: Hannah Dopstadt, Gregor Höber, Elias Stromberger
Language: English
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Why did the crisis lead to more inequality in Spain, but to a more inclusive recovery in Portugal?
During the euro crisis, Spain and Portugal were under similar debt and austerity pressures. Nevertheless, inequality and social polarization increased in Spain, while Portugal managed a more inclusive recovery. This episode looks at how different policy choices led to these outcomes.
Authors: Valentin Kless, Linus Nienkemper, Teresa Rhomberg
Language: English
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Why did debt policy become a populist symbol in Argentina - but not in Brazil?
After the crises of the early 2000s, left-wing governments in Argentina and Brazil faced similar debt problems.
Argentina politicized debt populistically, while Brazil pursued a pragmatic course and combined social reforms with fiscal stability.
Authors: Maxim Polevoi, Inga Rajchl, Yana Werdel
Language: English
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Why did debt promote inclusion in South Africa, but repression in Zimbabwe?
In the 1990s, South Africa and Zimbabwe faced high levels of debt and social inequality.
South Africa combined debt management with democratic inclusion, while Zimbabwe used fiscal crises to legitimize repression and the concentration of power.
Authors: Matilda Nigsch Ananos, Felix Wenzler, Paul Wiesinger
Language: English
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Podcast episodes autumn 2025
Why did the Brazilian government offer extensive support much earlier in the crisis of 1990 than the crisis of 1994?
Brazil experienced two banking crises in the 1990s. The first started in February 1990 and the second began in December 1994. The government did not offer deposit insurance or a bank hol iday during either crisis. However, the Brazilian government issued extensive liquidity support in July 1988, and the 1990 crisis became systemic in February, 1990. The government offered extensive liquidity support for the second crisis in October 1994. Furthermore, the government issued a deposit freeze in March 1990, but did not freeze deposits in the second crisis.
Was the difference driven by the crises’ nature, e.g. liquidity versus structural problems, or by shifting political leadership and lessons learned from past turmoil? This podcast explores how inflation pressures, political calculations, and economic realities shaped Brazil’s crisis management strategies.
Authors: Inga Rajchl, Emma Shendi, Felix Wenzler, Linus Theodor
Language: English
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Why does Kenya have stronger investor protections than Angola?
The World Bank scores countries on their policies protecting minority shareholders, with scores closer to 100 indicating stronger protection. The World Bank assigns these scores based on policies such as firm disclosure requirements, the ability to sue firm directors, and shareholder participation in company decisions. The most recent scores show that Kenya has 92 points, while Angola only has 32.
What explains this gap? Legal origins provide one lens, showing how foundational laws shape protections. Another perspective points to political openness and international relationships, highlighting the role of courts and globalization in enforcing those laws. This podcast examines how legal frameworks, and political contexts combine to determine investor security – and why strong laws alone may not tell the whole story.
Authors: Elias Stromberger, Leonhard Löw, Julia Tebbe, Yanik-Amon Wimmer
Language: English
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Podcast episodes spring 2025
Why does Bulgaria grant higher unemployment benefits than Romania?
Despite their similar economic transitions and shared EU membership, Bulgaria and Romania take strikingly different approaches to unemployment benefits. While Bulgaria provides 77% of the last income after a year of unemployment, Romania offers only 38%.
Why does Bulgaria provide a more generous safety net despite facing similar trade pressures? Is it a matter of political priorities, labor market policies, or institutional differences? This podcast explores the underlying factors that shape social policy choices, questioning whether economic theory alone can explain these divergences in welfare systems.
Authors: Marina Vasilenko, Sahar Bazrafshan, Tim Maximilian Straßer
Language: English
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Why does Germany reject a common deposit guarantee scheme in the EU, while France is in favor of it?
Germany and France, both key players in the European Union, have taken opposing stances on the idea of a common EU deposit insurance scheme. While France supports it as a step toward financial integration and stability, Germany remains firmly opposed.
What drives this divide? Is it concerns over financial risk-sharing, differences in banking systems, or deeper political and economic considerations? This podcast unpacks the motivations behind each country’s position and explores what’s at stake for the future of European banking unity.
Authors: Katharina Katzgraber, Konrad Piotrowski, Roman Shpak, Simon Weber
Language: English
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Why did the Finnish stock market react positively to the Brexit results in 2016, while the Swedish market reacted negatively?
When the results of the 2016 Brexit referendum were announced, stock markets across Europe reacted sharply—but not uniformly. While Sweden’s stock market dropped in response to the news, Finland’s market saw a surprising uptick.
What explains these opposing reactions? Was it differences in economic ties to the UK, investor sentiment, or broader market expectations? This podcast unpacks the factors that shaped Finland’s and Sweden’s market responses, offering insights into how geopolitical shocks ripple through financial systems in unexpected ways.
Authors: Kristin Kleinhappl, Emanuel Paul Hafner, Sebastian Sinz
Language: English
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Why did Mexico bail out its banks while Argentina pursued a Bagehot approach during the Tequila Crisis of 1994-1995?
In the wake of the Tequila Crisis of 1994-1995, Argentina and Mexico faced similar financial turmoil but adopted starkly different policy responses. Mexico intervened aggressively, implementing a large-scale bank bailout that included blanket guarantees, recapitalization efforts, and loan restructuring programs. In contrast, Argentina took a more classical Bagehot approach, allowing weaker banks to fail while focusing on liquidity support rather than direct bailouts. What explains these divergent strategies?
Authors: Justine Kaya Gohl Hodson, Stephanie Anabel Alge, Virginia Voster, Nicolas Wengler
Language: English
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Why does the theory of economic voting apply in Germany but not in France?
Germany and France experienced relatively stable economic conditions following the global financial crisis, yet their electoral outcomes diverged sharply. In Germany, Chancellor Angela Merkel’s steady leadership and economic competence secured her re-election in 2013. Voters rewarded her handling of the crisis, aligning with the Theory of Economic Voting, which suggests that strong economic performance benefits the incumbent.
In France, however, despite President Nicolas Sarkozy’s relatively solid economic record, he was voted out in 2012, replaced by François Hollande. This outcome challenges the conventional wisdom that voters primarily base their decisions on economic conditions. Why did Merkel’s economic stewardship resonate with German voters, while Sarkozy’s did not in France?
Authors: Micah Fertig; Marton Farkas, Sandy Girgis, Emilia Lorenz, Vian Stimpfl
Language: English
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Why does the Central Bank of Chile enjoy more independence than the Central Bank of Argentina?
The Central Bank of Chile is often regarded as one of the most independent central banks in Latin America, maintaining a strong focus on inflation stability. In contrast, the Central Bank of Argentina has experienced more direct government involvement in monetary policy.
What factors explain this difference in central bank independence? Is it the result of institutional design, historical developments, or economic conditions? This podcast examines the key influences that have shaped the roles of these central banks and their impact on economic policy.
Authors: Jovana Babić; Simon David Herbst, Maida Muratovic, Florian Sifel, Xiaoyan Wu
Language: English
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Third Mission