Varieties of Capitalism
The Institutional Foundations of Comparative Advantage
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Product details:
- Publisher OUP Oxford
- Date of Publication 30 August 2001
- ISBN 9780199247745
- Binding Hardback
- No. of pages556 pages
- Size 242x164x34 mm
- Weight 1011 g
- Language English
- Illustrations 4 figures; tables 0
Categories
Short description:
What are the most important differences among national economies? Is globalization forcing nations to converge on an Anglo-American model? What explains national differences in social and economic policy? This pathbreaking work outlines a new approach to these questions. It highlights the role of business in national economies and shows that there is more than one path to economic success. The book sets a new intellectual agenda for everyone interested in relations between politics, economics, and business.
MoreLong description:
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.
... this volume and its associated literature, will become the paradigm of explanation for the next decade.
Table of Contents:
An Introduction to Varieties of Capitalism
Part I: General Themes and Diverse Applications
Varieties of Labor Politics in the Developed Democracies
Institutional and Sectoral Interactions in Monetary Policy and Wage-Price Bargaining
Social Protection and the Formation of Skills: A Reinterpretation of the Welfare State
Firms and the Welfare State: When, Why, and How Does Social Policy Matter to Employers?
The Domestic Sources of Multilateral Preferences: Varieties of Capitalism in the European Community
Part II: Case-Studies in Public Policy, Continuity, and Change
Business, Government, and Labour Market Policy in Britain and Germany
Employers, Public Policy, and the Politics of Decentralized Cooperation in Germany and France
Revisiting the French Model: Coordination and Restructuring in French Industry
Part III: Corporate Governance, Firm Strategy, and the Law
Varieties of Corporate Governance: Comparing Germany and the UK
Macro-Varieties of Capitalism and Micro-Varieties of Strategic Management in European Airlines
The Legal Framework for Corporate Governance: The Influence of Contract Law on Company Strategies in Germany and the United States
Legal Irritants: How Unifying Law Ends Up in New Divergences
National Varieties of Standardization
