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Global Varieties of Capitalism

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DorotheeBohle and BélaGreskovits. 2012. Capitalist Diversity on Europe’s Periphery. Ithaca, N.Y.: Cornell University Press, 287 pp.
BenRoss Schneider. 2013. Hierarchical Capitalism in Latin America: Business, Labor, and the Challenges of Equitable Development. New York, N.Y.: Cambridge University Press, 237 pp.
AndrewWalter and XiaokeZhang, eds. 2012. East Asian Capitalism: Diversity, Continuity, and Change. Oxford, UK: Oxford University Press, 331 pp.

Published online by Cambridge University Press:  24 December 2018

Magnus Feldmann
Magnus Feldmann*
Affiliation:
University of Bristol in the United Kingdom, email: m.feldmann@bristol.ac.uk
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Abstract

This article analyzes the prospects for globalizing the varieties of capitalism (voc) debate. It identifies and compares firm-centered, governance-centered, and state-centered approaches to extending the debate on capitalist diversity, and discusses the distinctive contributions of each approach as well as the trade-offs between them. The author draws on three agenda-setting volumes that engage with the voc framework and study capitalist diversity in three regions not usually covered by this literature: Latin America, East and Southeast Asia, and East Central Europe. As these regions play an increasingly important role in the world economy, this article examines what the books imply about the current state of knowledge about global voc. The author argues that the extension of the voc debate to these parts of the world is important for advancing the understanding of economic institutions; the approach can reinvigorate research on capitalist diversity and the institutional foundations of economic development in the current era of globalization.

Keywords

East AsiaEastern Europeglobal capitalisminstitutional analysisLatin Americamarket institutionspolitical economy of developmentvarieties of capitalism
Type
Review Article
Information
World Politics , Volume 71 , Issue 1 , January 2019 , pp. 162 - 196
Copyright
Copyright © Trustees of Princeton University 2018 

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