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Comparative Institutions and Globalization

Comparative Institutions and Globalization. Anne Wren (Stanford University) With critique by Tom Kenyon (Princeton University & IFC). Varieties of Capitalism (VOC). Can use VOC literature to derive policy preferences of firms and workers

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Comparative Institutions and Globalization

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  1. Comparative Institutions and Globalization Anne Wren (Stanford University) With critique by Tom Kenyon (Princeton University & IFC)

  2. Varieties of Capitalism (VOC) • Can use VOC literature to derive policy preferences of firms and workers • VOC predicts existence of ‘complementarities’ across national economic sub-systems • Distinguishes two principal variants (coordinated and liberal market economies)

  3. Institutions and Specialization • Different institutional environments favor different types of industrial specialization: • CMEs: favor long-term investment in skills and incremental innovation (autos, capital goods, engines) • LMEs: favor flexibility and radical innovation (software, biotech, telecoms)

  4. Policy Preferences - Firms

  5. Policy Preferences – Workers

  6. Operationalization? • How do we tell what a CME/LME-type firm looks like? • How do we measure ‘radical’ vs. ‘incremental’ innovation (Taylor 2004) • Sector, technological/skill intensity or stage of product cycle? • How do we tell what a CME/LME economy looks like?

  7. Data – Variables and Indicators

  8. Cluster Analysis Groupings

  9. Grounds for Skepticism • CME/LME distinction questionable: • H&S categories do not hold up: countries switch over time & by organizational sub-type (e.g. Ireland) • H & S overstate extent of complementarities, see trend away from coordination since 1980 • Need alternative indicator of coordination: continuous? by institutional sub-grouping?

  10. To Sum Up • VOC approach promising, but problematic to operationalize • Trade-off between theoretical sophistication and cross-national scope of application • Think more carefully about underlying complementarities outside OECD • Develop cross-national core and regional modules? (e.g. WB ICA)

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