The Effects of Political Institutions on Varieties of Capitalism

Business & Finance, Economics, Public Finance
Cover of the book The Effects of Political Institutions on Varieties of Capitalism by Matthew P. Arsenault, Springer International Publishing
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Matthew P. Arsenault ISBN: 9783319508924
Publisher: Springer International Publishing Publication: February 10, 2017
Imprint: Palgrave Macmillan Language: English
Author: Matthew P. Arsenault
ISBN: 9783319508924
Publisher: Springer International Publishing
Publication: February 10, 2017
Imprint: Palgrave Macmillan
Language: English

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.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

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.

More books from Springer International Publishing

Cover of the book Cyber Security: Analytics, Technology and Automation by Matthew P. Arsenault
Cover of the book Topological Structures in Ferroic Materials by Matthew P. Arsenault
Cover of the book Mathematics and Its Applications by Matthew P. Arsenault
Cover of the book Epigenetics, the Environment, and Children’s Health Across Lifespans by Matthew P. Arsenault
Cover of the book Studying Complex Surface Dynamical Systems Using Helium-3 Spin-Echo Spectroscopy by Matthew P. Arsenault
Cover of the book Intercultural Communication by Matthew P. Arsenault
Cover of the book Pareto-Nash-Stackelberg Game and Control Theory by Matthew P. Arsenault
Cover of the book Evidence-Informed Assessment and Practice in Child Welfare by Matthew P. Arsenault
Cover of the book Religions and Migrations in the Black Sea Region by Matthew P. Arsenault
Cover of the book Computer Vision Methods for Fast Image Classification and Retrieval by Matthew P. Arsenault
Cover of the book Hybrid Micro-Machining Processes by Matthew P. Arsenault
Cover of the book Hole Conductor Free Perovskite-based Solar Cells by Matthew P. Arsenault
Cover of the book Geospatial Analysis to Support Urban Planning in Beijing by Matthew P. Arsenault
Cover of the book International Security in the Asia-Pacific by Matthew P. Arsenault
Cover of the book Complex Primary and Revision Total Knee Arthroplasty by Matthew P. Arsenault
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy