Wettbewerbsfähigkeit und Dynamik institutioneller Standortbedingungen: Ein empirischer Test des „Varieties-of-Capitalism“-Ansatzes

Mihai Paunescu and Martin Schneider

Schmollers Jahrbuch : Journal of Applied Social Science Studies / Zeitschrift für Wirtschafts- und Sozialwissenschaften, 2004, vol. 124, issue 1, 31-59

Abstract: Hall / Soskice (2001) distinguish economies by the institutional arrangements into which companies are embedded, and they predict industry-specific compara-tive advantages: Liberal market economies (LMEs) such as the U.S. will hold advantages in high-tech industries; coordinated market economies (CMEs) such as Germany will hold advantages in medium high-tech industries. We test this theory on data for 26 OECD countries. In cluster analyses, the two varieties of capitalism are affirmed. Liberal market economies specialize in high-tech indus-tries, and coordinated market economies in medium high-tech industries, as pre-dicted. In addition to the two varieties of capitalism, however, we identify as ad-ditional clusters the Mediterranean and the eastern European countries, and we find Japan as a special case. Moreover, the clusters cannot be considered as sta-ble: From 1990 to 1999, a number of countries moves, in terms of their institu-tional arrangements, toward the liberal market model.

JEL-codes: F14 P52 (search for similar items in EconPapers)
Date: 2004
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