§16§This edited volume proposes an innovative approach to European Integration by combining economics and political theory in its study of public goods. The contributors review such elements as a neo-medieval governance, the merits of a new European Republic, and, alongside Europe, include South East Asia in its discussions. By addressing different issues within the overarching approach of public goods and the republican paradigm of governance, Collignon introduces an important new perspective. §04§§1. Introduction.- 2. European public goods in the neo-medieval model of governance.- 3. The European Union as a Republic.- 4. On paradigms and public goods: Has the crisis changed the economic paradigm of EMU?.- 5. Principals and Agents in European Democracy.- 6. Why Does EU Governance Change?.- 7. The ASEAN Economic Community (AEC) As A Public Good.§ §02§Stefan Collignon is a professor of political economy at Sant'Anna School of Advanced Studies, Pisa, at which he founded the Asia Forum, and the London School of Economics, UK. He has previously taught at Harvard University and Hamburg University. Further to this, Stefan Collignon held the role of Deputy Director General for Europe in the German Federal Ministry for Finance, and has published several books and journal articles over his career.§ §04§nciple-Agent Model 97§§Benefits and Costs Associated with Member States Delegation to Supranational Agents. 98§§What does principal-agent theory tell us about the EU's Democratic Deficit?. 99§§Reforms in the Lisbon Treaty. 102§§What does Pollack say about the European Parliament?. 103§§Delegation and Legitimacy - the Principals' Perception and the Centrality of§the Public Discourse 106§§Institutional discourses in the European Union. 107§§The Discussion about the Democratic Deficit after the Lisbon Treaty. 108§§'The Euro Crisis' or 'how member states took the power away from the people' 111§§The European Union and the Erosion of the Permissive Consensus. 113§§Europe and its Political Response to the Euro Crisis. 114§§Conclusion: Outlining the Agency Slack. 121§§Conclusion. 124§§6. Why Does EU Governance Change?. 131§§The Frame Of Integration. 133§§Economic Causes For Governance Problems. 133§§Economically Adequate Governance. 135§§Explaining integration. 138§§Exogenous Shocks. 139 §04§§§Endogenous Efforts. 141§§The Public Goods Approach in a Nutshell 144§§Two Crises That Shook The EU.. 146§§Testing the theory. 146§§Make The Approach Visible 〓7§§Case Studies. 149§§Synthesis. 171§§Conclusion. 173§§7. The ASEAN Economic Community (AEC) As A Public Good. 174 §§Background of ASEAN Integration. 175§§From Political to Economic Cooperation. 175§§The ASEAN Economic Community. 177§§ASEAN Way. 180§§ASEAN's Potential 183§§The AEC as a Public Good. 184§§Obstacles to ASEAN Economic Integration. 187§§Increasing Externalities. 187§§Different Marginal Benefits and Costs. 192§§Developmental Gaps and the Lack of Leadership or a Redistributive Mechanism.. 196§§No Mechanism for Preference Revelation. 199§§Strengthening ASEAN Institutions for the Better Governance of ASEAN Public Goods. 200§§Central Level or Volun
