Ben Clift
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780199641987
- eISBN:
- 9780191741586
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199641987.003.0011
- Subject:
- Business and Management, Political Economy, Finance, Accounting, and Banking
This chapter analyzes French responses to the financial crisis, arguing that a ‘post-dirigiste’ interpretation predicated on an expansive notion of the state as actor in and enactor of markets best ...
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This chapter analyzes French responses to the financial crisis, arguing that a ‘post-dirigiste’ interpretation predicated on an expansive notion of the state as actor in and enactor of markets best captures the qualitative shift in French state/market relations. Post-dirigisme incorporates how influential institutional and ideational legacies of the French dirigiste tradition continue to influence outcomes by generating anticipation of state action to shape the market. These distinctive traits leave footprints on French institutions and market structures, and the evolutionary trajectory of French capitalism. In analyzing the French political economy in the wake of the financial crisis in terms of ‘new state activism’, this chapter explores the French state as a ‘midwife’ of change in banking and the automobile industry. It uses post-dirigisme to explain French state responses to the financial crisis, noting how state actors, in concert with the elites, actively facilitated dominant market positions of French international champions.Less
This chapter analyzes French responses to the financial crisis, arguing that a ‘post-dirigiste’ interpretation predicated on an expansive notion of the state as actor in and enactor of markets best captures the qualitative shift in French state/market relations. Post-dirigisme incorporates how influential institutional and ideational legacies of the French dirigiste tradition continue to influence outcomes by generating anticipation of state action to shape the market. These distinctive traits leave footprints on French institutions and market structures, and the evolutionary trajectory of French capitalism. In analyzing the French political economy in the wake of the financial crisis in terms of ‘new state activism’, this chapter explores the French state as a ‘midwife’ of change in banking and the automobile industry. It uses post-dirigisme to explain French state responses to the financial crisis, noting how state actors, in concert with the elites, actively facilitated dominant market positions of French international champions.
Vivien A. Schmidt
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780199641987
- eISBN:
- 9780191741586
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199641987.003.0009
- Subject:
- Business and Management, Political Economy, Finance, Accounting, and Banking
The economic crisis that began in 2008 had a differential impact on France, which had a pretty good crisis; Italy, which had a pretty bad one; and Spain, for which the crisis was downright ugly. All ...
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The economic crisis that began in 2008 had a differential impact on France, which had a pretty good crisis; Italy, which had a pretty bad one; and Spain, for which the crisis was downright ugly. All three can be categorized as part of a third variety of capitalism, as state-influenced market economies (SMEs) in which the state’s role is central as the main driver of capitalism, as a state of mind as much as the state in action, by contrast with market-driven liberal market economies and network-based coordinated market economies (LMEs and CMEs). But to understand these countries’ trajectories over time as well as their responses to the economic crisis, the chapter supplements the consideration of the political economic institutions with an examination of the differences in these countries’ policies, political institutions, and politics — encompassing not just the role party-based coalitions and interest-based bargains but also the role of leadership, ideas, and discourse—along with the role of the EU.Less
The economic crisis that began in 2008 had a differential impact on France, which had a pretty good crisis; Italy, which had a pretty bad one; and Spain, for which the crisis was downright ugly. All three can be categorized as part of a third variety of capitalism, as state-influenced market economies (SMEs) in which the state’s role is central as the main driver of capitalism, as a state of mind as much as the state in action, by contrast with market-driven liberal market economies and network-based coordinated market economies (LMEs and CMEs). But to understand these countries’ trajectories over time as well as their responses to the economic crisis, the chapter supplements the consideration of the political economic institutions with an examination of the differences in these countries’ policies, political institutions, and politics — encompassing not just the role party-based coalitions and interest-based bargains but also the role of leadership, ideas, and discourse—along with the role of the EU.
Georg Menz
- Published in print:
- 2017
- Published Online:
- November 2017
- ISBN:
- 9780199579983
- eISBN:
- 9780191846779
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780199579983.003.0003
- Subject:
- Political Science, Political Theory
Given the prominence of the varieties of capitalism debate and its imprint from the turn of the twenty-first century onwards, this chapter is dedicated to introducing, reviewing, critiquing, and ...
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Given the prominence of the varieties of capitalism debate and its imprint from the turn of the twenty-first century onwards, this chapter is dedicated to introducing, reviewing, critiquing, and expanding Peter Hall and David Soskice’s paradigm of ‘Varieties of Capitalism’. We explore the impact the turn towards ‘varieties’ has had, examine how the discussion has reshaped the subfield as a whole, and propose fresh ways pointing forward. Recent strides made suggest taking ideas and discourse more seriously. The cultural turn, however, deserves much more serious consideration than it has received so far. Disassembling the building blocks of the various models and exploring the glue that keeps them attached is another research avenue.Less
Given the prominence of the varieties of capitalism debate and its imprint from the turn of the twenty-first century onwards, this chapter is dedicated to introducing, reviewing, critiquing, and expanding Peter Hall and David Soskice’s paradigm of ‘Varieties of Capitalism’. We explore the impact the turn towards ‘varieties’ has had, examine how the discussion has reshaped the subfield as a whole, and propose fresh ways pointing forward. Recent strides made suggest taking ideas and discourse more seriously. The cultural turn, however, deserves much more serious consideration than it has received so far. Disassembling the building blocks of the various models and exploring the glue that keeps them attached is another research avenue.
Mark Zachary Taylor
- Published in print:
- 2016
- Published Online:
- August 2016
- ISBN:
- 9780190464127
- eISBN:
- 9780190609252
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190464127.003.0005
- Subject:
- Political Science, Comparative Politics, Political Economy
This chapter digs deeper into the widely held belief that “institutions rule!” It first asks whether there exists some special combination of institutions and policies that explains Cardwell’s Law. ...
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This chapter digs deeper into the widely held belief that “institutions rule!” It first asks whether there exists some special combination of institutions and policies that explains Cardwell’s Law. It therefore examines research on how a country’s institutions and policies fit together to form a National Innovation System. It then looks at the “Why Nations Fail” thesis that currently dominates explanations of innovative economies. It explores the effects of democracy, political decentralization, and “Varieties of Capitalism” on innovation. The overwhelming evidence is that none of these theories adequately explains national success in S&T. Theories that put specific institutions or policies at their core, as causal forces behind sustained S&T progress, have been overstated and oversimplified and need to be re-examined. In other words, we are missing something. To find that missing something, we must go beyond the vague platitude that “institutions and policies matter.”Less
This chapter digs deeper into the widely held belief that “institutions rule!” It first asks whether there exists some special combination of institutions and policies that explains Cardwell’s Law. It therefore examines research on how a country’s institutions and policies fit together to form a National Innovation System. It then looks at the “Why Nations Fail” thesis that currently dominates explanations of innovative economies. It explores the effects of democracy, political decentralization, and “Varieties of Capitalism” on innovation. The overwhelming evidence is that none of these theories adequately explains national success in S&T. Theories that put specific institutions or policies at their core, as causal forces behind sustained S&T progress, have been overstated and oversimplified and need to be re-examined. In other words, we are missing something. To find that missing something, we must go beyond the vague platitude that “institutions and policies matter.”
Steffen Hertog
- Published in print:
- 2019
- Published Online:
- July 2019
- ISBN:
- 9780198799870
- eISBN:
- 9780191864704
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198799870.003.0002
- Subject:
- Economics and Finance, Public and Welfare
This chapter argues that cronyism is a key component of a broader system of insider–outsider divisions in Arab political economies that also extends to labor markets. While economic dualism and ...
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This chapter argues that cronyism is a key component of a broader system of insider–outsider divisions in Arab political economies that also extends to labor markets. While economic dualism and insider privileges exist all over the developing world, the division is particularly deep and rigid in Arab countries. It results from a legacy of deep state involvement in the Arab economies under which states’ ambitions have increasingly outstripped their resources. Scarce resources have led to a de facto restriction of material privileges to insider groups, abetted by a legacy of deep bureaucratic intervention that lends itself to the creation of regulatory rents. Insider protection results in low levels of cooperation and trust between state, business, and workers, and creates an equilibrium of low skills and low productivity that hampers private-driven growth in the region. This argument is developed mostly on the basis of descriptive, cross-country data.Less
This chapter argues that cronyism is a key component of a broader system of insider–outsider divisions in Arab political economies that also extends to labor markets. While economic dualism and insider privileges exist all over the developing world, the division is particularly deep and rigid in Arab countries. It results from a legacy of deep state involvement in the Arab economies under which states’ ambitions have increasingly outstripped their resources. Scarce resources have led to a de facto restriction of material privileges to insider groups, abetted by a legacy of deep bureaucratic intervention that lends itself to the creation of regulatory rents. Insider protection results in low levels of cooperation and trust between state, business, and workers, and creates an equilibrium of low skills and low productivity that hampers private-driven growth in the region. This argument is developed mostly on the basis of descriptive, cross-country data.
Gallie Duncan
- Published in print:
- 2013
- Published Online:
- January 2014
- ISBN:
- 9780199664719
- eISBN:
- 9780191765209
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199664719.003.0011
- Subject:
- Business and Management, HRM / IR
The chapter provides an overview of the findings of the research presented in the individual chapters. It considers first the general effects of the economic crisis for the quality of work in Europe ...
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The chapter provides an overview of the findings of the research presented in the individual chapters. It considers first the general effects of the economic crisis for the quality of work in Europe and then examines variations in experiences between the different regions. Finally it considers the usefulness of the major theories of institutional variation within capitalism in accounting for these differences.Less
The chapter provides an overview of the findings of the research presented in the individual chapters. It considers first the general effects of the economic crisis for the quality of work in Europe and then examines variations in experiences between the different regions. Finally it considers the usefulness of the major theories of institutional variation within capitalism in accounting for these differences.
Paul Copeland
- Published in print:
- 2014
- Published Online:
- May 2015
- ISBN:
- 9780719088254
- eISBN:
- 9781781707470
- Item type:
- chapter
- Publisher:
- Manchester University Press
- DOI:
- 10.7228/manchester/9780719088254.003.0007
- Subject:
- Political Science, Conflict Politics and Policy
In the conclusion it is argued that the 2004 and 2007 enlargements have had a profound impact on the clash of capitalisms surrounding the ESD. With few exceptions the CEE states joined the liberal ...
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In the conclusion it is argued that the 2004 and 2007 enlargements have had a profound impact on the clash of capitalisms surrounding the ESD. With few exceptions the CEE states joined the liberal coalition during the three case study negotiations. The outcome has been a strengthening of the liberal coalition, which has made policy outcomes of a more substantive nature for EU employment and social policy more difficult to achieve. The second section considers why the CEE states are supportive of the liberal coalition and the final part of the chapter explores the future of the ESD in the context of enlargement and the EU’s current political climate.Less
In the conclusion it is argued that the 2004 and 2007 enlargements have had a profound impact on the clash of capitalisms surrounding the ESD. With few exceptions the CEE states joined the liberal coalition during the three case study negotiations. The outcome has been a strengthening of the liberal coalition, which has made policy outcomes of a more substantive nature for EU employment and social policy more difficult to achieve. The second section considers why the CEE states are supportive of the liberal coalition and the final part of the chapter explores the future of the ESD in the context of enlargement and the EU’s current political climate.
