Do â€˜Liberal Market Economiesâ€™ Really Innovate More Radically than â€˜Coordinated Market Economiesâ€™? Hall & Soskice Reconsidered
Carolina Castaldi and
No GD-91, GGDC Research Memorandum from Groningen Growth and Development Centre, University of Groningen
In their influential book Varieties of Capitalism; The Institutional Foundations of Comparative Advantage, Peter A. Hall and David Soskice argue that the technological specialization patterns of developed countries are largely determined by the ?varieties of capitalism? prevailing in these countries. They hypothesize that ?liberal market economies? (LMEs) specialize in radical innovation, while ?coordinated market economies? (CMEs) focus more on incremental innovation. We argue that Hall and Soskice?s empirical test of this hypothesis is fundamentally flawed and propose a more appropriate and rigorous test of their conjecture, based on patent citation data. The manufacturingwide industry-level results indicate that the hypothesis does not survive further scrutiny.
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:gro:rugggd:gd-91
Access Statistics for this paper
More papers in GGDC Research Memorandum from Groningen Growth and Development Centre, University of Groningen Contact information at EDIRC.
Bibliographic data for series maintained by Hanneke Tamling (). This e-mail address is bad, please contact .