Growth and welfare in advanced capitalist economies

Cover
Growth and Welfare in Advanced Capitalist Economies: How Have Growth Regimes Evolved?
Copyright
Preface
Contents
List of Figures
List of Tables
List of Contributors
Part I: The Evolution Of Growth Regimes And Strategies
1: Tracking the Transformation of Growth Regimes in Advanced Capitalist Economies
1. Introduction
2. The Dynamics of Capitalist Development
2.1 Neoliberalism and Liberalization of Capitalist Political Economies
2.2 Entering the Knowledge-Based Economy
2.3 Tracing National Trajectories of Growth Regimes
3. Growth, Regimes, and Strategies
4. Challenges to Growth Regimes
4.1 The Rise of the Service Economy
4.2 Finance as a New Engine of Growth—How Far Have Various Countries Gone Through Financialization?
4.3 Innovation, Digitalization, and the Knowledge-Based Economy
4.4 Export and Demand-Driven Growth in the Twenty-First Century
4.5 The Five Growth Regimes of Contemporary Advanced Capitalist Economies
5. Plan of the Book
References
2: How Growth Strategies Evolve in the Developed Democracies
1. The Approach
2. The Era of Modernization, 1950–75
2.1 The Economic Gestalt
2.2 Growth Strategies
2.3 Electoral Politics
3. The Era of Liberalization, 1980–2000
3.1 The Economic Gestalt
3.2 Growth Strategies
3.3 Electoral Politics
4. An Era of Knowledge-Based Growth, 2000–
4.1 The Economic Gestalt
4.2 Growth Strategies
4.3 Electoral Politics
5. Conclusion
Acknowledgments
References
3: European Growth Models Before and After the Great Recession
1. The Crisis of Wage-Led Growth
2. Post-Fordist Growth Models: A Framework
3. Post-Fordist Growth Models: Illustrative Evidence
4. The Impact of the Crisis
5. Policy Responses to the Crisis
6. Wage and Sectoral Trends
7. Some Final Remarks
References
4: Cross-National Variation in Growth Models: Three Sources of Extra Demand
1. Introduction
2. A new taxonomy of economic growth models
2.1 Motivation
2.2 The Conceptual Framework
2.3 The Range of Growth Models
3. Data and Method
4. Mapping the Growth Models
5. The Performance of Growth Models
6. Conclusion
References
5: Forced Structural Convergence in the Eurozone
1. Introduction: Multilevel European Government in Comparative Policy Research
2. The Monetary Union: Failure of an Asymmetric Regime
2.1 The EMU Destroys Existing Governing Capacities
2.2 The New Euro Regime: Convergence through Austerity and Supply-Side Reforms
2.3 Structural Differences of Northern and Southern Political Economies
3. The Asymmetric Impact of the Present Euro Regime
4. The Political Economy of Forced Convergence
4.1 Forced Convergence May Work
4.2 Is the Prize Worth Winning?
5. A Disaster of Political Legitimacy
5.1 Legitimacy on the National Level
5.2 Legitimacy on the European Level
5.3 The Specter of Politicization
References
Part II: The Politics Of Growth Strategies
6: Transitions to the Knowledge Economy in Germany, Sweden, and the Netherlands
1. Introduction
2. Diverging Political-Economic Profiles
3. Explaining Divergent Trajectories
4. The German Growth Strategy: Doubling Down
5. The Swedish Growth Strategy: Branching Out
6. The Dutch Growth Strategy: Transitioning Back
7. Conclusion
References
7: Growth Strategies and Employers’ Coalitions: Renewing Welfare States
1. Introduction
2. Growth Strategies and Social Policies
3. Growth Strategies, Producer Interests, and Welfare State Preferences
4. Refining our Conceptions of Producer Preferences
5. Labor Market Organization and Policy Coalitions
6. Coordination and Adjustment to the Financial Crisis
7. Employers’ Coordinating Capacities and Investment in Skills
8. Conclusion
References
8: Strategies for Growth and Employment Creation in a Services-Based Economy: Skill Formation, Equality, and the Welfare State
1. Introduction
2. The New Economic Environment
2.1 Deindustrialization and the ICT Revolution
2.2 Variations in the Characteristics of Service Production
3. Supplyand Demand-Side Strategies for Employment Creation in Low Productivity Services Sectors
4. Strategies for Growth in a Digitized Post-Industrial Economy
5. Dynamic Service Expansion and the Institutions of Skill Formation
5.1 The ICT Revolution and the Demand for High-Skilled Labor
5.2 Cross-National Variation in Skills Policy: Sweden, Germany, and the UK Compared
5.3 The Impact of Changes in Skills Demand on Labor Markets: Sweden, Germany, and the UK Compared
6. Conclusions
References
Part III: Growth Strategies And Welfare Reforms
9: Always a Winning Strategy? Wage Moderation’s Conditional Impact on Growth Outcomes
1. Introduction
2. Stylized Assumptions within Supply-Side Comparative Capitalism: The Link between Wage-Setting Institutions, Wage Moderation,
2.1 Wage Moderation Performance by Wage-Setting Regime: Do Coordinated Labor Markets Out-perform Non-coordinated Ones?
3. The Conditioning Effect of Wage Moderation and Wage-Setting Institutions on Macroeconomic Outcomes: A Growth Model View
4. The Empirical Relationship between Wage-Setting Institutions, Wage Inflation, and Growth: An Analysis of Eighteen OECD Countr
5. Results
5.1 The Export Share, Wage Inflation, and Growth
5.2 Wage-Setting Institutions, Wage Inflation, and Growth
6. Conclusion
References
10: Housing Finance Between Social Welfare and Growth Strategies
1. Introduction
2. Housing Finance and the Welfare State
3. Linking Growth and Welfare: Housing Finance Policy as Growth Strategies
4. Growth Strategies and Housing Finance in the United States and Germany
4.1 United States: Financializing Housing Markets
4.2 Germany: Reforming Housing Finance
5. Conclusion
References
11: Fighting Youth Unemployment: Growth Strategies and Youth Welfare Citizenship
1. Introduction
2. Theoretical Framework: The Transformation of the Transition to Adulthood, Youth Welfare Citizenship, and Growth Strategies
2.1 Youth Welfare Citizenship
2.2 The Effects of Growth Strategies
3. Growth Strategies, Youth Citizenship Regimes, and ALMP Reforms in Sweden, Germany, the UK, and France
3.1 Sweden
3.2 Germany
3.3 The United Kingdom
3.4 France
4. Conclusion
References
12: Growth Strategies and Welfare Reforms in Europe
1. Introduction
2. Growth Strategies and Welfare State Reforms: The Theoretical Linkages
2.1 Manufacturing Export-Based Growth Strategy and the Dualization of Welfare
2.2 Exports of Dynamic Services Growth Strategy and Social Investment
2.3 FDI-Financed Export-Led Growth Strategy and Fiscal and Social Attractiveness
2.4 Financialization-Based Growth Strategy and Commodification of Welfare
2.5 Publicly Financed Domestic Demand-Based Growth Strategy and Social Protectionism
2.6 Overview of the Five Growth Strategies
3. Tracing the Linkages through Country Cases
3.1 Manufacturing Exports and Dualization of Welfare in Germany
3.2 Export of Dynamic Services and Social Investment in Sweden and Denmark
3.3 FDI-Led Export Growth and Fiscal and Social Attractiveness in Eastern Europe
3.4 Financialization and Commodification of Welfare in the United Kingdom
3.5 The Fate of Wage-Led Growth and Social Protectionism in Southern Europe: From Public Debt to “Competitive Impoverishment”
3.6 The EU-Imposed “Competitive Impoverishment” Strategy
4. Conclusions: The Politics of Growth and Welfare Reform in Advanced Capitalist Countries
4.1 The Key Role of Existing Regimes and Producer Groups in Shaping Growth Strategies and Welfare Reforms
4.2 The Electoral Challenge
4.3 Political Salience as a Determinant of Path-Dependent versus Path-Breaking Reform Trajectories
Appendix
References
Name Index
Subject Index