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The late twentieth century has witnessed the establishment of new forms of capitalism in East Asia as well as new market economies in Eastern Europe. Despite the growth of international investment and capital flows, these distinctive business systems remain different from each other and from those ...

The late twentieth century has witnessed the establishment of new forms of capitalism in East Asia as well as new market economies in Eastern Europe. Despite the growth of international investment and capital flows, these distinctive business systems remain different from each other and from those already developed in Europe and the Americas. This continued diversity of capitalism results from, and is reproduced by, significant differences in societal institutions and agencies such as the state, capital and labour markets, and dominant beliefs about trust, loyalty, and authority. This book presents the comparative business systems framework for describing and explaining the major differences in economic organization between market economies in the late twentieth century. This framework identifies the critical variations in coordination and control systems across forms of industrial capitalism, and shows how these are connected to major differences in their institutional contexts. Six major types of business system are identified and linked to different institutional arrangements. Significant differences in post-war East Asian business systems and the ways in which these are changing in the 1990s are analysed within this framework, which is also extended to compare the path-dependent nature of the new capitalisms emerging in Eastern Europe.

Capitalism in the twentieth century has been marked by periods of persistent bad performance alternating with episodes of good performance. Cornwall and Cornwall draw upon Schumpterian, Institutional and Keynesian economics to investigate how far these swings can be explained as integral to ...

Capitalism in the twentieth century has been marked by periods of persistent bad performance alternating with episodes of good performance. Cornwall and Cornwall draw upon Schumpterian, Institutional and Keynesian economics to investigate how far these swings can be explained as integral to capitalist development. The authors consider the macroeconomic record of the developed capitalist economies over the past 100 years (including rates of growth, inflation and unemployment) as well as the interaction of economic variables with the changing structural features of the economy in the course of industrialization and transformation.

This work represents the French Regulation School approach to the study of economics. Regulationists focus on the long-term evolution of capitalist economies with a strong emphasis on cross-country comparisons. Their theory centers on the notion of "accumulation regimes", a concept that analyzes ...

This work represents the French Regulation School approach to the study of economics. Regulationists focus on the long-term evolution of capitalist economies with a strong emphasis on cross-country comparisons. Their theory centers on the notion of "accumulation regimes", a concept that analyzes long-wave growth patterns and how those patterns were shaped by five key regulatory mechanisms: 1) forms of competition; 2) the socio-technical system covering all aspects of the capital-labor relation; 3) money; 4) forms of state intervention; and 5) arrangements regulating international economic relations. Methodologically, their approach is very flexible and innovative, ranging from econometric models to interdisciplinary studies.