VARIETIES OF CAPITALISM

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Varieties Of Capitalism

Author : Peter A. Hall
ISBN : 0191530107
Genre : Business & Economics
File Size : 22.65 MB
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What are the most fundamental differences among the political economies of the developed world? How do national institutional differences condition economic performance, public policy, and social well-being? Will they survive the pressures for convergence generated by globalization and technological change? These have long been central questions in comparative political economy. This book provides a new and coherent set of answers to them. Building on the new economics of organization, the authors develop an important new theory about which differences among national political economies are most significant for economic policy and performance. Drawing on a distinction between 'liberal' and 'coordinated' market economies, they argue that there is more than one path to economic success. Nations need not converge to a single Anglo-American model. They develop a new theory of 'comparative institutionaladvantage' that transforms our understanding of international trade, offers new explanations for the response of firms and nations to the challenges of globalization, and provides a new theory of national interest to explain the conduct of nations in international relations. The analysis brings the firm back into the centre of comparative political economy. It provides new perspectives on economic and social policy-making that illuminate the role of business in the development of the welfare state and the dilemmas facing those who make economic policy in the contemporary world. Emphasizing the 'institutional complementarities' that link labour relations, corporate finance, and national legal systems, the authors bring interdisciplinary perspectives to bear on issues of strategic management, economic performance, and institutional change. This pathbreaking work sets new agendas in the study of comparative political economy. As such, it will be of value to academics and graduate students in economics, business, and political science, as well as to many others with interests in international relations, social policy-making, and the law.
Category: Business & Economics

Varieties Of Capitalism Corporate Governance And Employees

Author : Shelley Marshall
ISBN : 9780522855487
Genre : Capitalism
File Size : 64.82 MB
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We live in a 'corporate world' in which powerful business corporations shape and influence the activities of nation states, their national economies and their social relations. But what is it that moulds the activities of the corporations themselves? Do some societies have 'styles' of regulation that enable corporations to operate freely in the pursuit of certain interests, where others are more constrained? And, if so, are Australian companies more inclined to pursue the financial interests of shareholders and owners at the expense of employees and creditors? Corporate governance may be guided in the pursuit of particular interests by many influences, including law, politics, capital and labour and other pressure groups. How these competing pressures balance out varies enormously from state to state. Bringing together the original research by lawyers, political economists and industrial relations scholars, Varieties of Capitalism, Corporate Governance and Employees is a first Australian contribution to these complex issues.
Category: Capitalism

National Identity And The Varieties Of Capitalism

Author : John L. Campbell
ISBN : 0773529977
Genre : Political Science
File Size : 34.27 MB
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Denmark has out-performed most other advanced capitalist countries since the mid-1980s Contributors to National Identity and the Varieties of Capitalism draw from the literature on capitalism and small states and corporatism to explore why this is the case. They find that Danish political and economic institutions facilitate bargaining and consensus building in ways that have enabled the state, businesses, and labour unions to adapt to the challenges of globalization. Moreover, by virtue of its small size, homogeneous population, and response to a variety of international challenges - both economic and geopolitical - Denmark has developed a strong national identity that further bolsters consensus building. The result has been an adaptable and flourishing national political economy.
Category: Political Science

The Nordic Varieties Of Capitalism

Author : Lars Mjoset
ISBN : 9780857247780
Genre : Political Science
File Size : 68.63 MB
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A comprehensive analysis of the political economy of the five Nordic countries (Denmark, Finland, Iceland, Norway, and Sweden). It emphasizes the variety of experiences within the Nordic realm, from the dramatic collapse of Iceland's economy as the financial bubble burst in 2008 to the full-employment oil-economy of Norway.
Category: Political Science

Varieties Of Capitalism And New Institutional Deals

Author : Wolfram Elsner
ISBN : 1781956758
Genre : Business & Economics
File Size : 25.43 MB
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In response to global and technological challenges, this text highlights the continuing diversity of national institutional reconfigurations and policy reforms from an institutional-economics perspective.
Category: Business & Economics

Are There Varieties Of Capitalism In African Political Economies

Author : Christoph Vogel
ISBN : 9783656047766
Genre :
File Size : 88.86 MB
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Seminar paper from the year 2009 in the subject Politics - International Politics - Region: Africa, grade: 1,7, University of Cologne (Forschungsinstitut fur Politische Wissenschaft und Europaische Fragen), course: Comparative Political Economy: Varieties of Capitalism, language: English, abstract: Since the last decade scientific research on capitalism has experienced a noticeably grown attention among scholars as well as politicians. One of the most discussed approaches in this field of comparative analysis of political economy is the 'varieties of capitalism' theory1 developed by Peter Hall and David Soskice. Their approach basically focuses on how different actors may behave in a certain politico-economic state configuration and on how far this configuration can determine a national type or variety of capitalism as well as the economic success of a political economy. This approach, though, has been designed with a view to the so-called 'developed economies', which are to be found in Western and Central Europe as well as in North America. In the era of globalization other economies have come into play, with their performances ranging from real success stories, as in several Asian economies, to considerable failure, as in most marginalized Sub-Saharan African economies. After presenting Hall and Soskice's approach and some of its criticisms in order to give a conceptual framework, this paper will provide a very brief overview of the political economy of colonialism, followed by a case-study analysis of the contemporary political economies of Uganda and the Democratic Republic of Congo (DRC). The main research question is to identify to which extent varieties of capitalism imported from colonial powers have fashioned today's economies in the chosen cases as 'economic models' or how far the empirically established colonial economic systems are responsible for post-colonial developments. The former colonial power in Uganda, Great Britain, will be considered as a Libe
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The Effects Of Political Institutions On Varieties Of Capitalism

Author : Matthew P. Arsenault
ISBN : 9783319508924
Genre : Business & Economics
File Size : 77.35 MB
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This book identifies and explores the mechanisms linking political institutions and variation in capitalist systems. A strong correlation exists between varieties of political regimes and varieties of capitalism: majoritarian political regimes are correlated with liberal market economies (LMEs) and consensus political regimes are correlated with coordinated market economies (CMEs). Still, correlation is not causation. Empirical findings illustrate that partisanship and policy legacies, the number of political parties, electoral rules, and constitutional constraints are significant indicators of LMEs and CMEs. Arsenault finds that majoritarian institutions create an environment of adversarial politics and strong competition between actors, which makes credible commitment to nonmarket coordination mechanisms unlikely. Consensus institutions, on the other hand, promote an atmosphere of cooperation and coordination between actors, thus encouraging credible commitment to nonmarket coordination mechanisms. Qualitative case studies of Germany, Britain, and New Zealand confirm the quantitative findings and suggest that political regimes were instrumental in shaping the economic adjustment paths of these countries during the era of liberalization in the 1980s.
Category: Business & Economics

Beyond Varieties Of Capitalism

Author : Bob Hancké
ISBN : STANFORD:36105123275732
Genre : Business & Economics
File Size : 34.45 MB
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Since the early 1990s, Europe's economies have been facing several new challenges: the single market programme, the collapse of the Berlin wall and eastward enlargement, and monetary unification. Building on the influential Varieties of Capitalism (VoC) perspective, first elaboarted in detail in the book Varieties of Capitalism (OUP, 2001), this book critically analyzes these developments in the European political economy and their effects on the continental European economies. Leading political economists from Europe and the US debate how VoC can help understand the political-economic challenges that Europe is facing today and how understanding these new challenges can in turn enrich and enhance the VoC perspective. Thematically, the contributions to this volume are organized in four sections: * how the macro-economics of EMU have influenced different European models of capitalism, * how the Single Market programme was received in the different institutional regimes in European capitalism, * how welfare and labor market reforms are debated and implemented, * how European capitalism travelled east after 1989. Preceding this is a spirited defence of the VoC approach by Peter Hall, and an introduction from the volume editors, considering the approach, and proposing extensions and amendments. This book demonstrates that the VoC approach remains, as the editors put it in their introduction, a rich seam to mine, capable of accommodating new developments, and theoretically flexible enough to produce new and innovative hypotheses and arguments.
Category: Business & Economics

Varieties Of Capitalism And Business History

Author : Keetie E. Sluyterman
ISBN : 9781317665328
Genre : Business & Economics
File Size : 81.36 MB
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The financial crisis of 2008 brought new urgency to the question how best to organise national economies. This volume gives a business history perspective on the Varieties of Capitalism debate and considers the respective merits of the liberal and coordinated market economies. It looks at individual firms and business people as well as institutions and takes a long-term perspective by covering the whole 20th century. The authors examine both continuity and change with a particular focus on the Netherlands, a nation with an open economy, situated between two countries that oppose each other in the way they organize their economies: Germany and Great Britain. The Netherlands also provides an important case study with Dutch business maintaining strong links to the United States, widely considered to be the ‘typical’ liberal market economy. Contributors address the main topics of the capitalism debate, including labour relations, corporate governance, the firm and its leaders, coordination between firms, innovation, multinationals as agents of change, and economic performance. They show that the Netherlands moved from a mostly liberal market economy before 1914 towards a coordinated market economy from the 1930s onwards, and – up to a certain extent – back again to a more liberal market economy. Under both varieties of capitalism the country experienced economic growth and stagnation, but a more equal division of wealth occurred in the coordinated market economy only. Wars and international economic crises offered moments for revaluation and changes of tack. This book raises questions for every country around the globe: How is change being brought about? Can one see different results from a liberal or a more coordinated market economy? And most critically: which system is more effective in bringing prosperity and enabling enough people to share in the wealth?
Category: Business & Economics

Open Varieties Of Capitalism

Author : U. Becker
ISBN : 9780230240810
Genre : Political Science
File Size : 73.28 MB
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Presenting capitalisms as open, system-like configurations, this book argues four ideal-typical varieties (liberal, statist, corporatist, meso-communitarian) and analyzes the socio-economic performances of advanced capitalisms.
Category: Political Science