The Effects of Political Institutions on Varieties of Capitalism

Author: Matthew P. Arsenault

Publisher: Springer

ISBN: 331950892X

Category: Business & Economics

Page: 204

View: 3625

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.
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Varieties of Capitalism

The Institutional Foundations of Comparative Advantage

Author: Peter A. Hall,David Soskice

Publisher: OUP Oxford

ISBN: 0191647705

Category: Business & Economics

Page: 570

View: 2296

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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Varietals of Capitalism

A Political Economy of the Changing Wine Industry

Author: Xabier Itçaina,Antoine Roger,Andy Smith

Publisher: Cornell University Press

ISBN: 1501703730

Category: Business & Economics

Page: 280

View: 5475

Varietals of Capitalism shows that politics is an omnipresent part of the economics of wine and of economic activity in general. Based on a four-year research project encompassing fieldwork in France, Spain, Italy, and Romania, Xabier Itçaina, Antoine Roger, and Andy Smith examine the causes and effects of a radical reform adopted at the EU level in 2008. Regulatory change politically transformed the rationale of EU support to the wine industry, from shaping the supply side to encouraging producers to adapt to the demands of a supposedly "new consumer." To explain the adoption and impact of the reform, the authors develop an analytical framework to capture the actors—their perceptions, preferences, and interdependencies—within an industry crisscrossed by institutions located at the global, European, national, and local scales. This framework combines concepts and lessons from historical institutionalism and regulationist economics, Bourdieu’s field theory, and the sociology of public policymaking. The authors reject accounts that attribute policy change simply to material determinants and "the invisible hand of the market." They emphasize the crucial importance of institutions within sectors of the economy, and propose ways to bolster constructivist approaches to political economy by linking industrial change to scientific and bureaucratic balances of power. This book’s novel focus on different levels of institutional impact should prove influential in the study of the politics of industry, and more broadly within the comparative analysis of capitalism.
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Beyond Varieties of Capitalism

Conflict, Contradiction, and Complementarities in the European Economy

Author: Bob Hancké,Martin Rhodes,Mark Thatcher

Publisher: Oxford University Press, USA

ISBN: N.A

Category: Business & Economics

Page: 438

View: 3452

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.
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Re-Forming Capitalism

Institutional Change in the German Political Economy

Author: Wolfgang Streeck

Publisher: OUP Oxford

ISBN: 0191614459

Category: Business & Economics

Page: 320

View: 7718

Wolfgang Streeck has written extensively on comparative political economy and institutional theory. In this book he addresses some of the key issues in this field: the role of history in institutional analysis, the dynamics of slow institutional change, the limitations of rational design and economic-functionalist explanations of institutional stability, and the recurrent difficulties of restraining the effects of capitalism on social order. In the classification of the 'Varieties of Capitalism' school, Germany has always been taken as the chief exemplar of a 'European', coordinated market economy. Streeck explores to what extent Germany actually conforms to this description. His argument is supported by original empirical research on wage-setting and wage structure, the organization of business and labor in business associations and trade unions, social policy, public finance, and corporate governance. From this evidence, Bringing Capitalism Back In traces the current liberalization of the postwar economy of democratic capitalism by means of an historically-grounded approach to institutional change. This is an important book in comparative political economy and key reading across the social sciences for academics, researchers, and advanced students of Political Economy, Sociology, comparative business systems.
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The Evolution of Economic Systems

Varieties of Capitalism in the Global Economy

Author: Barry Clark

Publisher: Oxford University Press, USA

ISBN: 9780190260590

Category:

Page: 400

View: 5601

The most current text of its kind, The Evolution of Economic Systems: Varieties of Capitalism in the Global Economy explores the effects of politics and culture on the nature of national economic systems. Author Barry Clark distills recent academic work in such areas as comparative political economy, varieties of capitalism, new and old institutional economics, new economic sociology, and social systems of production, presenting the material in a conversational manner that makes it accessible for undergraduate students.
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The Politics of Advanced Capitalism

Author: Pablo Beramendi,Silja Häusermann,Herbert Kitschelt,Hanspeter Kriesi

Publisher: Cambridge University Press

ISBN: 1107099862

Category: Business & Economics

Page: 468

View: 1178

This book takes stock of the major economic and political challenges advanced capitalist democracies face today. It provides a synthetic view, allowing the reader to grasp the nature of key structural transformations and their consequences in terms of the politics of change, policy outputs, and outcomes.
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Varieties of Capitalism and Europeanization

National Response Strategies to the Single European Market

Author: Georg Menz,Senior Lecturer in Political Economy Georg Menz

Publisher: Oxford University Press, USA

ISBN: 9780199273867

Category: Political Science

Page: 280

View: 6907

Europeanization has often been conceived as a top-down process, necessitating implementation and adjustment at the national level. However, Europeanization can also be conditioned by bottom-up national initiatives. While recent endeavors in comparative political economy have emphasized theresilience of coordinated market economies, few detailed empirical studies have examined to date exactly how different European systems of political-economic governance cope with and respond to an European impetus for liberalization. This original study of the impact of the EU-induced liberalizationof service provision on member states argues that innovative national re-regulatory strategies may be implemented in response to Europeanization. In permitting any company registered in an EU member state to provide services throughout Europe, new possibilities were created for the transnationalposting of workers from low-wage to high-wage countries. However, high-wage countries could re-regulate the wage levels applicable to such employees. The exact nature of such response strategy is coloured by the respective institutional power that labour market interest associations like tradeunions and employer associations command. Therefore, different institutionalised varieties of capitalism generate distinct re-regulations of the Single European Market.Drawing on detailed case studies of ten European countries, this volume bridges the gap between the rapidly unfolding scholarly debate on Europeanization and varieties of capitalism. It argues that both strongly neocorporatist systems of political-economic governance and statist systems are capableof creating swift, comprehensive and thorough national re-regulations. This applies to Austria and France, but also Sweden, Denmark, Norway, Finland, Belgium, and Luxembourg. By contrast, countries with less strongly embedded neocorporatist structures, in which due to organizational deficienciestrade unions face difficulties blocking employer demands, create liberal response strategies, permitting a stratification of wage levels. Hence, both Germany and the Netherlands implemented liberal business-friendly re-regulations. The volume makes the case for important amendments to existing accounts of Europeanization and varieties of capitalism. Scholars of Europeanization need to incorporate bottom-up re-regulation into their conceptual framework, particularly in response to 'negative integration'. Recent strides incomparative political economy have placed great emphasis on continued divergence, yet this study suggests that even within the presumably unified group of 'non-liberal' coordinated market economies important institutional differences produce very distinct responses in the face of Europeanliberalization.
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Capitalist Diversity on Europe's Periphery

Author: Dorothee Bohle,Béla Greskovits

Publisher: Cornell University Press

ISBN: 0801465222

Category: History

Page: 304

View: 4790

With the collapse of the Council for Mutual Economic Assistance in 1991, the Eastern European nations of the former socialist bloc had to figure out their newly capitalist future. Capitalism, they found, was not a single set of political-economic relations. Rather, they each had to decide what sort of capitalist nation to become. In Capitalist Diversity on Europe's Periphery, Dorothee Bohle and Béla Geskovits trace the form that capitalism took in each country, the assets and liabilities left behind by socialism, the transformational strategies embraced by political and technocratic elites, and the influence of transnational actors and institutions. They also evaluate the impact of three regional shocks: the recession of the early 1990s, the rolling global financial crisis that started in July 1997, and the political shocks that attended EU enlargement in 2004. Bohle and Greskovits show that the postsocialist states have established three basic variants of capitalist political economy: neoliberal, embedded neoliberal, and neocorporatist. The Baltic states followed a neoliberal prescription: low controls on capital, open markets, reduced provisions for social welfare. The larger states of central and eastern Europe (Poland, Hungary, and the Czech and Slovak republics) have used foreign investment to stimulate export industries but retained social welfare regimes and substantial government power to enforce industrial policy. Slovenia has proved to be an outlier, successfully mixing competitive industries and neocorporatist social inclusion. Bohle and Greskovits also describe the political contention over such arrangements in Romania, Bulgaria, and Croatia. A highly original and theoretically sophisticated typology of capitalism in postsocialist Europe, this book is unique in the breadth and depth of its conceptually coherent and empirically rich comparative analysis.
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New Technology @ Work

Author: Paul Boreham,Rachel Parker,Paul Thompson,Richard Hall

Publisher: Routledge

ISBN: 113449193X

Category: Business & Economics

Page: 240

View: 6986

New computer and communications technologies have acted as the catalyst for a revolution in the way goods are produced and services delivered, leading to profound changes in the way work is organized and the way jobs are designed. This important book examines the nature, setting and impact of new technologies on work, organization and management. Conventional debates about new technology often invoke optimistic visions of enhanced democracy, rising skills and economic abundance; others predict darker scenarios such as the destruction of jobs through labour-eliminating devices. This book proposes an alternative perspective, arguing that technology can be powerful, but in and of itself has no independent causal powers. It considers the impact of new technologies on manufacturing, clerical, administrative and call centre employment, in both managerial and professional arenas, and introduces the growing phenomena of telework. The book also assesses the important political and economic forces that restrict or facilitate the flow of new technologies on national and global levels. New Technology @ Work is an illuminating and thought-provoking text that will prove invaluable to all serious students of business, management and technology.
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Varieties of Capitalism and New Institutional Deals

Regulation, Welfare and the New Economy

Author: Wolfram Elsner,Gerhard Hanappi

Publisher: Edward Elgar Publishing

ISBN: 9781781956755

Category: Business & Economics

Page: 376

View: 1557

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.
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After the Three Italies

Wealth, Inequality and Industrial Change

Author: Michael Dunford,Lidia Greco

Publisher: John Wiley & Sons

ISBN: 1444355481

Category: Science

Page: 376

View: 3765

After the Three Italies develops a new political economy approach to the analysis of comparative regional development and the territorial division of labour and exemplifies it through an up-to-date account of Italian industrial change and regional economic performance. Responds to recent theoretical debates in economic geography, involving economists, geographers and planners. Builds the foundations for a new theoretical approach to regional economic development and the territorial division of labour. Draws on the results of a recent ESRC funded research project, as well as on a large range of official data sets. Provides an up-to-date picture of Italy‘s economic performance and of its recent development relative to other European countries and the rest of the world. Analyses Italy's internal differentiation and its persistent regional inequalities. Examines the regional impact of the recent evolution of the car, chemicals, steel and clothing industries. Leads to a new and more complex picture of Italian development.
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Corporate Governance and Capital Flows in a Global Economy

Author: Peter K. Cornelius

Publisher: Oxford University Press

ISBN: 9780195347586

Category: Business & Economics

Page: 527

View: 7064

This volume is a timely and insightful exploration into the issues of corporate governance and the impact of corporate governance practices on investments in developing countries. Sponsored by the World Economic Forum, INSEAD, and Wharton, this book collects original essays from senior researchers at the worlds top academic institutions as well as from key policymakers and business leaders, It analyzes global aspects of governance in relation to such issues as corporate performance, privatization, venture capitalism, and workers. With global financial markets having become more integrated, the book pays particular attention to the role of corporate governance in emerging-market economies and international capital flows. Rich in facts and ideas, Corporate Governance and Capital Flows in a Global Economy is a must read for anyone interested in financial crises international risk management, and global competitiveness.
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Varieties of Capitalism in Spain

Remaking the Spanish Economy for the New Century

Author: Sebastián Royo

Publisher: Palgrave Macmillan

ISBN: 9781403964120

Category: Political Science

Page: 268

View: 6065

Is globalization forcing "non-coordinated market economies," such as Chile, Mexico, Spain, and Portugal, to converge on an Anglo-American model? What explains national differences in social and economic policies? While theories of comparative economic advantage have dominated discussions of international trade, this book seeks to build on the hypotheses generated by the recent literature on "varieties of capitalism" to demonstrate the impact that institutions have on the national economic policy patterns of these countries.
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The Politics of High Tech Growth

Developmental Network States in the Global Economy

Author: Sean O'Riain

Publisher: Cambridge University Press

ISBN: 9780521830737

Category: Business & Economics

Page: 270

View: 6856

This book argues that beneath the Irish trade and foreign investment boom lies a more interesting story of regional innovation promoted by an alliance between the state and local technical communities. This alliance was governed through a decentralized set of state institutions, drawing on 'global' and 'local' economic and political resources. This 'Developmental Network State' has had a significant impact on the growth of Ireland's high tech cluster and is central to the emergence of an international network of 'global high tech regions' from Silicon Valley to Ireland, Taiwan, and Israel. The book provides a detailed study of the rise of the software industry in Ireland and of the state institutions and political conditions which promoted it. It shows how new 'network state' policies and institutions have been central to high tech regions elsewhere.
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The Great Transformation

The Political and Economic Origins of Our Time

Author: Karl Polanyi

Publisher: Beacon Press

ISBN: 0807056421

Category: Business & Economics

Page: 360

View: 8852

In this classic work of economic history and social theory, Karl Polanyi analyzes the economic and social changes brought about by the "great transformation" of the Industrial Revolution. His analysis explains not only the deficiencies of the self-regulating market, but the potentially dire social consequences of untempered market capitalism. New introductory material reveals the renewed importance of Polanyi's seminal analysis in an era of globalization and free trade.
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State, Globalization and Multilateralism

The challenges of institutionalizing regionalism

Author: Mario Telò

Publisher: Springer Science & Business Media

ISBN: 9400728433

Category: Political Science

Page: 188

View: 1190

This volume presents a reconsideration of the concepts of State and political power within the evolving multilateral network of cooperation and conflict. By means of an innovating research strategy, it explains state resilience within global governance while deepening the obsolescence of the traditional sovereign state concepts, including by emerging powers. Rather than considering the EU as an isolated case study, the book considers the EU as both a reference and a proactive player, which fosters a new research agenda both for comparative studies and political theory. Lastly, in view of the currently emergent, unprecedented and asymmetrical, ‘multi-polar’ world, it considers the need for a new research agenda on multilateralism.
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Power in a Complex Global System

Author: Louis W. Pauly,Bruce W. Jentleson

Publisher: Routledge

ISBN: 1317812697

Category: Political Science

Page: 260

View: 6870

Can twenty-first century global challenges be met through the limited adaptation of existing political institutions and prevailing systemic norms, or is a more fundamental reconstitution of governing authority unavoidable? Are the stresses evident in domestic social compacts capable of undermining the fundamental policy capacity of contemporary governments? This book, inspired by the work of the distinguished scholar Peter J. Katzenstein, examines these important and pressing questions. In a period of complex political transition, the authors combine original research and intensive dialogue to build on Katzenstein’s innovative insights. They highlight his seminal work on variations in domestic structures, on the role of ideologies of social partnership, on the regionally differentiated foundations of political legitimation, on diverse conceptions of "civilization," and on the idea and practice of power in a tenuous American imperium. Together, the chapters map the complex terrain upon which legitimate political authority and effective policy capacity will have to be reconstituted to address twenty-first-century global, regional and state-level challenges. The book will be of great interest to students and scholars in international organization, global governance, foreign policy analysis, and comparative politics.
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How Welfare States Shape the Democratic Public

Policy Feedback, Participation, Voting, and Attitudes

Author: Staffan Kumlin,Isabelle Stadelmann-Steffen

Publisher: Edward Elgar Publishing

ISBN: 1782545492

Category: Political Science

Page: 352

View: 9603

Staffan Kumlin and Isabelle Stadelmann-Steffen bring together political scientists and sociologists from different and frequently separated research communities to examine policy feedback in European welfare states. In doing so, they offer a rich menu
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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: 405

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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