Series editor(s): Dr Fredrik Engelstad
Subject Area: Sociology and Public Policy
|Title:||Varieties of Capitalism and Institutional Change|
|Volume:||24 Editor(s): Lars Mjøset, Tommy H. Clausen ISBN: 978-0-7623-1313-6 eISBN: 978-1-84950-414-0|
|Citation:||Jonathan Perraton (2007), Varieties of Capitalism and Institutional Change, in Lars Mjøset, Tommy H. Clausen (ed.) Capitalisms Compared (Comparative Social Research, Volume 24), Emerald Group Publishing Limited, pp.205-258|
|DOI:||10.1016/S0195-6310(06)24005-5 (Permanent URL)|
|Publisher:||Emerald Group Publishing Limited|
|Article type:||Chapter Item|
Institutions underpin the operation of national economies. These differ significantly between countries reflecting varying historical paths, policy choices and national cultures. Moreover, they need to be understood systemically as an ensemble of relations between their component parts: financial systems, corporate governance, industrial relations, patterns of state intervention, etc., have evolved together so that their operation and effects tend to reinforce each other. Different countries faced by common exogenous changes will tend to evolve along different lines rather than converge. National institutions matter: they significantly affect economic performance and distribution.
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