eBook - PDF

The Effects of Political Institutions on Varieties of Capitalism

Name: The Effects of Political Institutions on Varieties of Capitalism
ISBN: 9783319508924

Matthew P. Arsenault,

English
PDF
Available on iOS & Android

eBook - PDF

The Effects of Political Institutions on Varieties of Capitalism

Matthew P. Arsenault,

About this book

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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Yes, you can access The Effects of Political Institutions on Varieties of Capitalism by Matthew P. Arsenault in PDF and/or ePUB format, as well as other popular books in Economía & Economía política. We have over one million books available in our catalogue for you to explore.