Overshooting beyond Nordic Europe

Abstract

This chapter illustrates how the politics of overshooting apply outside of Nordic Europe by identifying two countries with cohesive, encompassing networks and high levels of economic volatility. Ireland differs from Nordic Europe in several respects, but it has suffering a strikingly similar set of abrupt policy reversals and dramatic boom-bust cycles. Tight-knit relationships also supported comprehensive reform and restructuring in Estonia. Dense, widely distributed ties facilitated rapid digitalization, but also increased the country's vulnerability to external shocks, including the 2007-2009 credit crunch and the emerging threat of cyberwarfare.