Varieties of Capitalism: Historical Studies

Abstract

In comparative political economy there is growing academic interest in the historical origins of different models of capitalism. Differences between later Coordinated and Liberal Market Economies are mapped in various subsystems such as corporate governance, welfare systems, skill formation regimes, or industrial relations. It is argued that interdependencies and complementarities between these systems are caused by different patterns of pre-industrial economic coordination, of electoral systems, or legal systems. However, whether the complementarity thesis fits the historical record of political economies is rarely investigated. This panel addresses this gap and delivers various plausibility probes of the complementarity hypotheses. These tests are based on quantitative and qualitative methods and investigate various subsystems and institutions, namely, interdependencies between electoral systems, skill formation, trade policies, social policies, financial systems and labor market regulation.

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