Globalized Finance and Varieties of Capitalism

Author: H. van Zon,Hans van Zon

Publisher: Springer

ISBN: 1137560274

Category: Political Science

Page: 227

View: 1865

Hans van Zon analyzes the financialization of developed capitalism, and argues that the emergence of finance as a dominant force has contributed to the relative decline of the West. He demonstrates that the neo-liberal model is inherently unstable and undermines capitalist economies, which can only function if they are embedded in institutions that are non- or even pre-capitalist. He shows how a toxic combination of financialization, corporate globalization, and a deregulated and parasitic financial industry have led to structural economic stagnation in both the USA and the greater part of the EU.
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The New Geography of Capitalism

Firms, Finance, and Society

Author: Adam D. Dixon

Publisher: Oxford University Press (UK)

ISBN: 0199668248

Category: Business & Economics

Page: 192

View: 3729

Globalization is a dominant feature and force in the contemporary world, impacting all areas of business, economics, and society. This accessibly written overview of contemporary capitalism shows how the development of global supply chains, the global division of labour, and, in particular, the globalization of financial markets have become the drivers of this process, and assesses the consequences. Wide-ranging, accessibly written, and inter-disciplinary, thisshort book is a most useful guide for researchers and students across the social sciences.
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Variegated Neoliberalism

EU Varieties of Capitalism and International Political Economy

Author: Huw Macartney

Publisher: Routledge

ISBN: 1136862838

Category: Political Science

Page: 208

View: 5131

Variegated Neoliberalism provides comparative analyses of global and European banking communities, and economic research centres, in the UK, France, and Germany. It explains the current neoliberal order in global finance, and the realms of possibility for challenges to it.
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Financial Crisis, Labour Markets and Institutions

Author: Sebastiano Fadda,Pasquale Tridico

Publisher: Routledge

ISBN: 0415538602

Category: Business & Economics

Page: 222

View: 6736

This book seeks to explain the global financial crisis and its wider economic, political, and social repercussions, arguing that the 2007-9 meltdown was in fact a systemic crisis of the capitalist system. The volume makes these points through the exploration of several key questions: What kind of institutional political economy is appropriate to explain crisis periods and failures of crisis-management? Are different varieties of capitalism more or less crisis-prone, and can the global financial crisis can be attributed to one variety more than others? What is the interaction between the labour market and the financialization process? The book argues that each variety of capitalism has its own specific crisis tendencies, and that the uneven global character of the crisis is related to the current forms of integration of the world market. More specifically, the 2007-09 economic crisis is rooted in the uneven income distribution and inequality caused by the current financial-led model of growth. The book explains how the introduction of more flexibility in the labour markets and financial deregulation affected everything from wages to job security to trade union influence. Uneven income distribution and inequality weakened aggregate demand and brought about structural deficiencies in aggregate demand and supply. It is argued that the process of financialization has profoundly changed how capitalist economies operate. The volume posits that financial globalization has given rise to growing international imbalances, which have allowed two growth models to emerge: a debt-led consumption growth model and an export-led growth model. Both should be understood as reactions to the lack of effective demand due to the polarization of income distribution.
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Varieties of Capitalism

The Institutional Foundations of Comparative Advantage

Author: Peter A. Hall,David Soskice

Publisher: OUP Oxford

ISBN: 9780191530104

Category: Business & Economics

Page: 556

View: 4438

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.
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Varieties of Capitalism, Types of Democracy and Globalization

Author: Masanobu Ido

Publisher: Routledge

ISBN: 1136342702

Category: Political Science

Page: 248

View: 4464

This book combines two strands of international political economy; examining how capitalism and democracy shape and are shaped by each other. Although until now considered separately, this path-breaking book proposes an innovative view of a political-economic system that inextricably links the model of capitalism to the type of democracy, where continuation is mutually reinforced. Advanced countries have achieved post-war affluence by adopting one of two contrasting models of capitalism; liberal market economies or coordinated market economies, and two opposing types of democracies: consensus or majoritarian democracies. Expert contributors in the field consider the question of whether and how globalization is transforming the post-war political–economic systems of advanced countries such as Britain, France, Germany, Italy and Japan, as well as the question of how it is shaping democracy and capitalism combinations in former socialist countries in Eastern Europe and the new "capitalist" China. The book examines various topics, including party system change, a political dilemma of the established party, and corporate governance reforms, to posit an original an innovative theory of international political economy. Variety of Capitalism, Types of Democracy and Globalization will be of interest to students and scholars of comparative politics, political economy and globalization.
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Globalization and Varieties of Capitalism

New Labour, Economic Policy and the Abject State

Author: D. Coffey,C. Thornley

Publisher: Springer

ISBN: 0230244602

Category: Political Science

Page: 188

View: 3420

A study of Britain as a capitalism poised between American and European models, exploring themes of legitimation, denial and opportunism via a series of substantial case studies framed by a reinterpretation of Thatcherism's economic contexts and a critical assessment of New Labour.
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National Identity and the Varieties of Capitalism

The Danish Experience

Author: John L. Campbell,John A. Hall,Ove Kaj Pedersen

Publisher: McGill-Queen's Press - MQUP

ISBN: 9780773529977

Category: Political Science

Page: 525

View: 5143

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.
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American Empire and the Political Economy of Global Finance

Author: L. Panitch,M. Konings

Publisher: Springer

ISBN: 0230227678

Category: Political Science

Page: 334

View: 1999

In a lively critique of how international and comparative political economy misjudge the relationship between global markets and states, this book demonstrates the central place of the American state in today's world of globalized finance. The contributors set aside traditional emphases on military intervention, looking instead to economics.
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Global Finance in Crisis

The Politics of International Regulatory Change

Author: Eric Helleiner,Faculty of Arts Chair in International Political Economy Professor Eric Helleiner,Stefano Pagliari,Hubert Zimmermann

Publisher: Routledge

ISBN: 1135157626

Category: Business & Economics

Page: 216

View: 6539

This highly accessible book brings together leading scholars to provide the first systematic analysis of the international regulatory response to the current global financial crisis. The volume examines the current changes in international financial regulation from the vantage point of the key powers in global finance including the US, the EU, Japan, and China. The authors also assess whether the flurry of ambitious initiatives to improve and strengthen international financial regulation signals an important turning point in the regulation of global finance.
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Governance in der politischen Ökonomie

Struktur und Wandel des modernen Kapitalismus

Author: Susanne Lütz

Publisher: Springer-Verlag

ISBN: 9783531151113

Category: Political Science

Page: 284

View: 9663

Globalisierung, Liberalisierung und der zunehmende Wettbewerb zwischen nationalen Märkten setzen das Institutionengefüge heutiger Marktwirtschaften zunehmend unter Druck. Kommt es zur Angleichung der Wirtschaftsstrukturen angelsächsischer und kontinentaleuropäischer Länder? Welche Dynamiken kennzeichnen den Umbau von Institutionen auf der Ebene von Wirtschaftssektoren, regionalen Produktionszusammenhängen oder auch die Transformation von Wirtschaftssystemen in Osteuropa? Diese Fragen stehen nicht nur im Zentrum der aktuellen Wirtschaftspolitik, sondern auch im Mittelpunkt der auf die politische Ökonomie gerichteten Governance-Debatte, welche die Wirtschaft in eine Vielzahl nicht-marktförmiger Institutionen eingebettet sieht. Dieser Band vermittelt einen Überblick über das Analyseinstrumentarium und den aktuellen Stand der auf die Wirtschaft bezogenen Governance-Forschung in verschiedenen Anwendungsfeldern. Kritisch diskutiert wird zudem die Leistungsfähigkeit des Ansatzes zur Erklärung des Wandels im modernen Kapitalismus.
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National Diversity and Global Capitalism

Author: Suzanne Berger,Ronald Philip Dore

Publisher: Cornell University Press

ISBN: 9780801483196

Category: Business & Economics

Page: 387

View: 1038

How does globalization change national economies and politics? Are rising levels of trade, capital flows, new communication technologies, and deregulation forcing all societies to converge toward the same structures of production and distribution? Suzanne Berger and Ronald Dore have brought together a distinguished group of experts to consider how the international economy shapes and transforms domestic structures. Drawing from experience in the United States, Europe, and Asia, the contributors ask whether competition, imitation, diffusion of best practice, trade, and financial flows are reducing national diversities. The authors seek to understand whether the sources of national political autonomy are undermined by changes in the international system. Can distinctive varieties of capitalism that incorporate unique and valued institutions for achieving social welfare survive in a global economy? The contributions to the volume present a challenge to conventional views on the extent and scope of globalization as well as to predictions of the imminent disappearance of the nation state's leverage over the economy.
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The Consequences of the Global Financial Crisis

The Rhetoric of Reform and Regulation

Author: Wyn Grant,Graham K. Wilson

Publisher: Oxford University Press

ISBN: 0199641986

Category: Business & Economics

Page: 272

View: 3155

Systematically exploring the consequences of the global financial crisis, this text focuses primarily on the impact on policy and politics. It asks how governments responded to the challenges that the crisis has posed, and the policy and political impact of the combination of both the crisis itself and these responses.
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The Financialization of Housing

A political economy approach

Author: Manuel B. Aalbers

Publisher: Routledge

ISBN: 1317361792

Category: Business & Economics

Page: 158

View: 8539

Due to the financialization of housing in today’s market, housing risks are increasingly becoming financial risks. Financialization refers to the increasing dominance of financial actors, markets, practices, measurements and narratives. It also refers to the resulting structural transformation of economies, firms, states and households. This book asserts the centrality of housing to the contemporary capitalist political economy and places housing at the centre of the financialization debate. A global wall of money is looking for High-Quality Collateral (HQC) investments, and housing is one of the few asset classes considered HQC. This explains why housing is increasingly becoming financialized, but it does not explain its timing, politics and geography. Presenting a diverse range of case studies from the US, the UK, the Netherlands, Germany, Italy and Spain, the chapters in this book include coverage of the role of the state as the driver of financialization processes, and the part played by local and national histories and institutions. This cutting edge volume will pave the way for future research in the area. Where housing used to be something "local" or "national", the two-way coupling of housing to finance has been one crucial element in the recent crisis. It is time to reconsider the financialization of both homeownership and social housing. This book will be of interest to those who study international economics, economic geography and financialization.
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Political Governance of Capitalism

A Reassessment Beyond the Global Crisis

Author: Helmut Willke,Gerhard Willke

Publisher: Edward Elgar Publishing

ISBN: 1781006199

Category: Business & Economics

Page: 207

View: 2049

The global financial crisis has uncovered disastrous gaps in the governance of capitalism. This timely book argues for encompassing and intelligent forms of political governance of capitalism to mitigate against the possibility of future global systemic risk. This path-breaking book highlights that systemic risks emerge from a globally operating financial industry that is not only disconnected from the real economy but also allowed to hide in 'shadow banking' practices. Governance based on national regimes fails to cover 'finance-led' global capitalism. The authors argue that the risk of systemic meltdown will reappear unless intelligent governance regimes are installed, combining legally binding rules and civil society pressures to restore the balance between risk-taking and accountability. They illustrate the goal is 'resilient' capitalism in which the rules of the game are set by politics and knowledge-based discourse. Political Governance of Capitalism will prove invaluable for graduate and post-graduate students interested in economy, political science, political economy, globalization, global governance, sociology, and financial sciences.
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Comparative Responses to Globalization

Experiences of British and Japanese Enterprises

Author: M. Umemura,R. Fujioka

Publisher: Springer

ISBN: 1137263636

Category: Business & Economics

Page: 261

View: 6128

Explores how British and Japanese firms have responded to globalization from a long-term perspective. Incorporates studies from the 18th century and sheds light on the impact of the institutional setting, the influence of government and entrepreneurs, and the weight of historical contingency in conditioning firm responses to globalization.
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Europeanization, Varieties of Capitalism and Economic Performance in Central and Eastern Europe

Author: L. Cernat

Publisher: Springer

ISBN: 0230501680

Category: Business & Economics

Page: 222

View: 1450

By combining insights from Europeanization, globalization, varieties of capitalism, and policy transfer literature, this book reconceptualizes the dynamics taking place during the EU enlargement process and makes a major contribution to the understanding of the relationships between institutional transformation and economic performance.
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Die politische Konstitution von Märkten

Author: Roland Czada,Susanne Lütz

Publisher: Springer-Verlag

ISBN: 3322895890

Category: Political Science

Page: 296

View: 433

Ein zuträglicher institutioneller Rahmen und der Verzicht auf politische Eingriffe gelten vielfach als einzige Voraussetzung für marktwirtschaftliches Wachstum. Demgegenüber zeigen die Beiträge dieses Bandes, dass funktionierende Märkte nicht nur institutionell eingebettet sein müssen, sondern darüber hinaus politischer "Pflege" bedürfen, die sich sowohl an aktiver Förderung als auch in regulativer Zähmung äußert. Die Analysen zur politischen Konstitution von Märkten in Entwicklungsländern, Schwellenländern, postsozialistischen Reformstaaten und westlichen Industrieländern deuten darauf hin, dass Märkte dort am erfolgreichsten geschaffen und entwickelt wurden, wo Regierungen dezidiert marktwirtschaftliche, zugleich aber auch pragmatische Eingriffe bevorzugten statt sich ganz auf eine radikale Marktideologie einzulassen.
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The Oxford Handbook of Asian Business Systems

Author: Michael A. Witt,Gordon Redding

Publisher: OUP Oxford

ISBN: 0191626554

Category: Business & Economics

Page: 752

View: 3880

Much of the existing literature within the "varieties of capitalism" (VOC) and "comparative business systems" fields of research is heavily focused on Europe, Japan, and the Anglo-Saxon nations. As a result, the field has yet to produce a detailed empirical picture of the institutional structures of most Asian nations and to explore to what extent existing theory applies to the Asian context. The Oxford Handbook of Asian Business Systems aims to address this imbalance by exploring the shape and consequences of institutional variations across the political economies of different societies within Asia. Drawing on the deep knowledge of 31 leading experts, this book presents an empirical, comparative institutional analysis of 13 major Asian business systems between India and Japan. To aid comparison, each country chapter follows the same consistent outline. Complementing the country chapters are eleven contributions examining major themes across the region in comparative perspective and linking the empirical picture to existing theory on these themes. A further three chapters provide perspectives on the influence of history and institutional change. The concluding chapters spell out the implications of all these chapters for scholars in the field and for business practitioners in Asia. The Handbook is a major reference work for scholars researching the causes of success and failure in international business in Asia.
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A Very Short, Fairly Interesting and Reasonably Cheap Book about Globalization

Author: Leo McCann

Publisher: SAGE

ISBN: 1526448270

Category: Business & Economics

Page: 160

View: 2795

Conceived by Chris Grey as an antidote to conventional textbooks, each book in the ‘Very Short, Fairly Interesting and Reasonably Cheap’ series takes a core area of the curriculum and turns it on its head by providing a critical and sophisticated overview of the key issues and debates in an informal, conversational and often humorous way. In Globalization, the author explores the various intermingled aspects that make up the processes and controversies of globalization; he discusses the history and rise of the concept, sceptical and critical ideas about it, the debates around a global culture, and the implications of globalization for work, business, management and organizations. Suitable for students of international business and anybody interested in the concept of globalization.
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