Varieties of Capitalism and Institutional Complementarities in the Political Economy: An Empirical Analysis

By P. Hall, Daniel W. Gingerich. British Journal of Political Science, 2009

936 citations recorded by the source corpus.

This article provides a statistical analysis of core contentions of the ‘varieties of capitalism’ perspective on comparative capitalism. The authors construct indices to assess whether patterns of co-ordination in the OECD economies conform to the predictions of the theory and compare the correspondence of institutions across subspheres of the political economy. They test whether institutional complementarities occur across these subspheres by estimating the impact of complementarities in labour relations and corporate governance on growth rates. To assess the durability of varieties of capitalism, they report on the extent of institutional change in the 1980s and 1990s. Powerful interaction effects across institutions in the subspheres of the political economy must be considered if assessments of the economic impact of institutional reform in any one sphere are to be accurate.

Subfields: Economics and Econometrics, Political Science and International Relations, Sociology and Political Science

View Paper: https://www.semanticscholar.org/paper/7fd70d6c87ecabfcadea9f8f95840cf9bec79a25

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Citations in the corpus

Varieties of capitalism in light of the euro crisis (2018, background): “On a simple interpretation of VofC analyses, that might appear to make sense: liberal market economies have generally performed better than Mediterranean market economies (Hall and Gingerich 2009).”
Cultural and Individual Value Correlates of Capitalism: A Comparative Analysis (2007, background): “Empirical data indicate that ACC represents a polar type on a continuum of capitalisms ( Hall and Gingerich, 2004 ).”
Economic causes of the Eurozone crisis: the analytical contribution of Comparative Capitalism (2016, background): “…of the role of the state for capitalist coordination—but also for rent-seeking and state capture, particularly in the more vaguely conceptualized ‘mixed market economies’ (MMEs) of Southern Europe and France (Molina and Rhodes, 2007; Hall and Gingerich, 2009, pp. 478–479; Beramendi et al., 2015a).”
Putting Typologies to Work (2012, background): “In a subsequent, closely linked article, Hall and Gingerich (2009, 459-60) do not refer to a Mediterranean type, but they do comment—again with caution—that “there has been some controversy about whether four of these nations . . . are examples of another distinctive type of capitalism.””
Varieties of capitalism and clean energy transitions in the European Union: When renewable energy hits different economic logics (2016, background): “Researchers associated with the VOC paradigm argue that there are important differences in how modern capitalism is organized in the Western world and that these ‘varieties’ show different but not mutually exclusive patterns to economic success (Hall & Gingerich, 2009).”
From comparing capitalisms to the politics of institutional change (2008, methodology): “VoC largely elides distinctions among coordinated systems in order to develop a parsimonious dichotomy that has a distinct advantage in hypothesis testing using statistical models ( Hall and Gingerich, 2004 ; Rueda and Pontusson, 2000 ).”
Varieties of institutional systems: A contextual taxonomy of understudied countries (2016, background): “As such, older typologies can become outdated as the institutional profile of nation-states shifts over time (Hotho, 2014; Hall & Gingerich, 2009).”
Changing of the guard: trends in corporatist arrangements in 42 highly industrialized societies from 1960 to 2010 (2016, background): “However, when the key VoC concept of complementarity is ushered through the difficult process of operationalization for macrocomparative study, it resembles and correlates highly with most corporatism indices (Hall and Gingerich, 2009).”
The research frontier in corporate governance (2011, background): “The varieties of capitalism literature ( Hall and Gingerich 2001 ) develops these arguments further and suggests that differences in national governance systems may be also driven, apart from the law, by cultural and historical factors, such as stakeholder involvement, reputational considerations, e”