Talking about growth, the discourse of the European Central Bank, 1997-2021

Eric Dehay ()
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Eric Dehay: RIME-Lab - Recherche Interdisciplinaire en Management et Économie Lab - ULR 7396 - UA - Université d'Artois - Université de Lille

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Abstract: The text proposes an analysis of the way the European Central Bank (ECB) considers the notion of economic growth or its limits and how the question of envi-ronmental risk has become an issue for it. For this purpose, an analysis of the speeches of the members of its board is carried out over the period 1997-2021. An automated statistical analysis of the corpus reveals the standard approach to growth adopted by the ECB. This is followed by a more qualitative reading of the discourse, which shows that the notions of sustainability and the climate crisis are becoming increasingly important in the rhetoric of the ECB, without leading to a radical revision of the way growth is conceived or to a questioning of its limits. In order to expand its discourse and action in the climate field, the ECB is rather pro-ceeding by superimposition, adding new ideas rather than replacing its initial paradigm. In doing so, it protects the legitimacy of its mandate and its epistemic credibility.

Keywords: E58; textual analysis; growth; climate change; European central bank (ECB) (search for similar items in EconPapers)
Date: 2022
New Economics Papers: this item is included in nep-eec, nep-env, nep-his and nep-mon
Note: View the original document on HAL open archive server: https://univ-artois.hal.science/hal-03788323
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Published in History of Economic Thought and Policy, 2022, 1, pp.61-82. ⟨10.3280/SPE2022-001004⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03788323

DOI: 10.3280/SPE2022-001004

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