Showing papers on "Coordinated market economy published in 2021"
TL;DR: The Comparative Capitalism research programme has become the dominant institutional approach with regard to the study of advanced economies as discussed by the authors. But very few scholars use it to develop proposals for economic analysis.
Abstract: The Comparative Capitalism research programme has become the dominant institutional approach with regard to the study of advanced economies. Still, very few scholars use it to develop proposals for...
13 citations
TL;DR: In this paper, the impact of private equity on a single sector, the automotive supply chain, was examined for the first time, and the impact on the automotive industry was examined in detail.
Abstract: Private equity is a form of financialization in which companies become commodities. This paper examines for the first time the impact of private equity on a single sector, the automotive supply ind...
12 citations
TL;DR: In this paper, the authors considered Switzerland as a coordinated market economy, characterized by dense interfirm networks and the strong role of business associations, and they considered it as a "cooperative market economy".
Abstract: During most of the twentieth century, it was possible to consider Switzerland a coordinated market economy, characterized by dense interfirm networks and the strong role of business associations. T...
8 citations
TL;DR: In this article, the authors assess what constrains the growth of platform work in Germany as well as whether existing economic and social institutions adapt to it and find that platform work is being accommodated in the German political economy, but in a very limited space.
Abstract: To investigate whether platform work can grow even in political economies with an adverse institutional environment, we examine Germany as a least likely case. We assess what constrains the growth of platform work in Germany as well as whether existing economic and social institutions adapt to it. We find that platform work is being accommodated in the German political economy, but in a very limited space. The most important institution constraining platform work is social insurance, especially by increasing pressure to rein in bogus self‐employment. Government has so far not seen a need to intervene with new regulation. Within the space that has been carved out for platform work, the traditional institutions of German social partnership are adapting to accommodate and monitor it. Overall, the main actors in the German political economy have a watchful eye on platform work but deal with the phenomenon in a characteristically consensual way.
6 citations
TL;DR: In this paper, the authors examine economic policy responses to the COVID-19 induced economic collapse in Germany (a coordinated market economy) and the UK (a liberal market economy), and find that the two countries responded to the symmetric economic shock with very similar furlough and business credit schemes to stabilize the demand and supply sides of the economy.
Abstract: We examine economic policy responses to the COVID-19 induced economic collapse in Germany (a coordinated market economy) and the UK (a liberal market economy). The two countries responded to the symmetric economic shock with very similar furlough and business credit schemes to stabilize the demand and supply sides of the economy. However, since these policies fed into very different political-economic structures in both countries, they produced very different results. We attribute this divergence to the effect of “institutional complementarities,” the notion in Varieties of Capitalism that different elements of a system are mutually articulated and, therefore, mutually reinforcing beyond their initial contribution, or vice versa. Our results serve as a cautionary tale to policymakers that introducing policy elements developed in other institutional contexts is complex and challenge us to consider systematically the way in which institutional frameworks actively shape policy outcomes.
3 citations
TL;DR: In this article, the authors examine the roles of unions, the use of US strategic approach to Human Resource Management (SHRM), and management perceptions of their organizations' innovativeness in the establishment of Works Council (WCs).
Abstract: We question notions of the ‘Americanization’ of employment relations in Slovenia, Slovakia and Croatia. First, we examine the roles of unions, the use of US strategic approach to Human Resource Management (SHRM), and management perceptions of their organizations’ innovativeness in the establishment of Works Council (WCs). Second, we employ the same variables in relation to the use of WCs for downward communication in these countries in comparison with what Amable (2003) terms the Continental European Coordinated Market Economy (CECME) of Austria, adding the CECMEs Germany and Norway as control variables. Union influence drives the adoption of WCs and their use for management downward communication. Hence, on our measures the three countries share features of the CECME category and have not been “Americanized”.
2 citations
TL;DR: In this article, the authors argue that in some of the successor states of former Yugoslavia an economic system of political capitalism has replaced the former economic systems of socialist self-management, and they focus on the examples of Croatia and Serbia using a case-study approach.
Abstract: This chapter argues that in some of the successor states of former Yugoslavia an economic system of political capitalism has replaced the former economic system of socialist self-management. The chapter focuses on the examples of Croatia and Serbia using a case-study approach. In the former country, the commanding heights of the economy were captured during the wars of the 1990s by new elites of returning emigres and managers without strong connections to the former communist party. In the latter the old elites were reproduced under the period of sanctions, sanctions-busting and the development of organised crime networks. Both are examples of variants of a system of political capitalism in which a ruling political elite dominates the economy, extracting quasi-rents and undermining productivity and economic growth. In contrast, in Slovenia, a form of coordinated market economy emerged from the old self-management system. It was not significantly affected by the Yugoslav conflicts and became an EU member state in 2004. These examples suggest that political capitalism is not a natural consequence of the transition from self-management, but rather a consequence mediated by the effect of war, conflict and sanctions.
1 citations