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The Effects of Political Institutions on Varieties of Capitalism

  • Book
  • © 2017

Overview

Authors:
  1. Matthew P. Arsenault

    1. Mount Aloysius College, Cresson, USA

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  • Examines in depth a correlation established but unexplored in David Soskice's Varieties of Capitalism (2001)

  • Provides detailed analysis without over-specializing

  • Includes qualitative case studies of influential political regimes

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Table of contents (7 chapters)

  1. Front Matter

    Pages i-xi
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  2. Political Institutions and Varieties of Capitalism

    • Matthew P. Arsenault
    Pages 1-16

  3. A Political Approach to Explaining Variation in Capitalist Systems

    • Matthew P. Arsenault
    Pages 17-59

  4. A Mixed-Method Approach to Capitalist Variation

    • Matthew P. Arsenault
    Pages 61-78

  5. Quantitative Analysis of Varieties of Capitalism

    • Matthew P. Arsenault
    Pages 79-102

  6. Political Institutions and Economic Reforms: Britain and Germany

    • Matthew P. Arsenault
    Pages 103-139

  7. The Economic Effects of Electoral Reform: New Zealand

    • Matthew P. Arsenault
    Pages 141-170

  8. Conclusion

    • Matthew P. Arsenault
    Pages 171-181

  9. Back Matter

    Pages 183-204
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Keywords

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.

Authors and Affiliations

  • Mount Aloysius College, Cresson, USA

    Matthew P. Arsenault

About the author

Matthew P. Arsenault is Assistant Professor of Political Science at Mount Aloysius College, USA. He previously served as a Presidential Management Fellow with the Consumer Financial Protection Bureau. 

Bibliographic Information

  • Book Title: The Effects of Political Institutions on Varieties of Capitalism

  • Authors: Matthew P. Arsenault

  • DOI: https://doi.org/10.1007/978-3-319-50892-4

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s) 2017

  • License: CC BY

  • Hardcover ISBN: 978-3-319-50891-7Published: 20 February 2017

  • Softcover ISBN: 978-3-319-84514-2Published: 13 July 2018

  • eBook ISBN: 978-3-319-50892-4Published: 10 February 2017

  • Edition Number: 1

  • Number of Pages: XI, 204

  • Number of Illustrations: 4 b/w illustrations, 9 illustrations in colour

  • Topics: Political Economy/Economic Systems, Public Economics, International Political Economy

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