scholarly journals In search of developmental capitalism institutions:

2021 ◽  
Vol 9 (22) ◽  
pp. 45-74
Author(s):  
Moises Balestro ◽  
Antonio Junqueira Botelho
Keyword(s):  
Emerging Markets ◽  
Growth Model ◽  
Global Economy ◽  
Growth Models ◽  
Analytical Framework ◽  
Sustainable Growth ◽  
Middle Income ◽  
Positive Externalities ◽  
Comparative Capitalism ◽  
Path Dependent

How can we explain that some emerging economies grow faster than others? What explains the sustainability of their growth? Not all types of capitalism in emerging markets contribute equally to sustainable growth rates that undergird development. Comparative capitalism research on European economies temporary growth models aims to more properly grasp change in the varieties of capitalism approach. Adoption of the growth models in emerging markets capitalism research requires attention to integration into the global economy and to political coalitions, and the need to deal with the methodological challenges, given high labor market informality and political instability. This article seeks to make sense of changes in the components of successive growth models throughout a path-dependent capitalist variety, expand the growth model analytical framework by testing elements alongside demand (and supply) based on a case study of Brazil, and explore coalitions in economic reform to identify growth model’s social blocs. The article’s results unveil challenges to the employment of existing concepts and analytical framework; the need to build bridges between growth models and the political economy of development; and an exploratory assessment of growth model contributions to Brazil's postwar development. Thereof, in the long term, interest shifts of economic elites between liberal and non-liberal economic regimes suggest a fragility of repeated attempts to form a durable developmental coalition, a process dynamic that frays state-permeated capitalism positive externalities. It concludes that both path dependent developmental institutions, which hinder change, and growth instability limit the possibilities of designing institutional reforms out of the middle-income trap.

Always a Winning Strategy? Wage Moderation’s Conditional Impact on Growth Outcomes

2020 ◽  
pp. 291-319
Author(s):  
Alison Johnston
Keyword(s):  
Growth Model ◽  
Growth Models ◽  
Winning Strategy ◽  
Labor Cost ◽  
Wage Bargaining ◽  
Wage Setting ◽  
Growth Outcomes ◽  
Wage Moderation ◽  
Comparative Capitalism ◽  
Export Shares

Wages and wage bargaining institutions are foundational components of comparative capitalism research. Supply-side comparative capitalism research has often assumed that wage moderation—facilitated through highly coordinated wage-setting institutions—produces beneficial growth outcomes. This supposition stems from the logic that restrained unit labor cost growth causes firms to increase employment and output. However, through its demand-side perspective, new growth model literature questions the virtues of wage moderation, because the restraint of wages can be detrimental to growth via its suppression of domestic consumption. This chapter empirically tests under what conditions will wage moderation produce economic growth. Using a first-difference, distributive lag panel analysis of eighteen OECD countries from 1970 to 2015, its findings largely resonate with predictions within the growth model literature. In the presence of wage restraint, countries with larger export shares and highly coordinated wage-setting institutions realize higher growth and lower unemployment than countries with smaller export shares and uncoordinated wage-setting institutions. In contrast, wage inflation produces better growth outcomes for countries with uncoordinated wage-setting, relative to those with highly coordinated wage-setting institutions. These results suggest that wage restraint is not a winning strategy for all growth models. Rather, wage moderation is associated with better growth (and unemployment) outcomes only for countries with export-led growth strategies.

Problems of the Evolution of the Comparative Capitalism Theory from the mid‑20th Century (On the Example of the Developed Countries)

2020 ◽  
pp. 7-20
Author(s):  
Mikhail M. Lobanov ◽  
Svetlana P. Glinkina
Keyword(s):  
Emerging Markets ◽  
Global Economy ◽  
Recovery Period ◽  
Developed Countries ◽  
Varieties Of Capitalism ◽  
Institutional Complementarity ◽  
Theoretical Substantiation ◽  
Scientific Discussion ◽  
Comparative Capitalism ◽  
The Developed Countries

In the late 20th and early 21st centuries the problem of theoretical substantiation of transnational differences in the forms of capitalist relations became the subject of a broad scientific discussion. Given article deals with the ideas about the causes and consequences of the differentiation of the principles of capitalist society organization, and the authors consciously limit its geographical coverage to developed countries. It was the states of the Core of World economy that were in the focus of publications of the second half of the 20th centurywhich used the methods of comparative analysis within the framework of the theories of regulation, developmentalism, dependent capitalism, neo-corporatism, post-Fordism, etc. Modern concepts of comparative capitalism, especially focusing on emerging markets, are based on a variety of approaches to distinguish national models of capitalist relations. Despite the pluralism of typological criteria, many of these approaches basically contain provisions of the “varieties of capitalism” theory (VoC) developed in the early 2000s. Relying on its key postulate on the existence of various types of institutional complementarity, the authors of given article explain the principles of divergence of liberal and coordinated market economies, as well as analyze the groundings for identifying a mixed type of capitalism. It should be noted that the prospects for the adaptation of provisions of “varieties of capitalism” binary theory to analyze the experience of countries with emerging markets, including post-socialist states, remain vague. It’s noteworthy, that during the post-crisis recovery period of the late 2000s the VoC approach has undergone a certain transformation under the influence of new conditions of global economy functioning, having opposed its own methodological flexibility to the spread of alternative theories of the organization of capitalist systems.

Comparative Capitalism, Growth Models and Emerging Markets: The Development of the Field

2020 ◽  
pp. 1-13
Author(s):  
Michael Schedelik ◽  
Andreas Nölke ◽  
Daniel Mertens ◽  
Christian May
Keyword(s):  
Emerging Markets ◽  
Growth Models ◽  
Comparative Capitalism

scholarly journals Using Unconventional Wisdom to Re-Assess and Rebuild the BRICS

2019 ◽  
Vol 12 (1) ◽  
pp. 8
Author(s):  
Bertrand Guillotin
Keyword(s):  
South Africa ◽  
Emerging Markets ◽  
Global Economy ◽  
Global Financial Crisis ◽  
Housing Prices ◽  
Analytical Framework ◽  
Conventional Wisdom ◽  
New Approach ◽  
Developed Markets ◽  
Basic Assumptions

In 2015, Goldman Sachs closed its BRIC (Brazil, Russia, India, China) fund after years of losses and plummeting assets. Emerging markets had, once again, turned into submerging markets. Their dependence on “developed” markets and established institutions had failed them in a post-Global Financial Crisis (GFC) era, anchored in protectionism, risks, volatility, and uncertainty. The once commonly-accepted wisdom that called for US housing prices to always increase was part of the problem and contagion. Rebuilding the BRICS (S for South Africa) using conventional wisdom would probably not work. A new approach is necessary, especially since the last key contributions to show the inadequacy of a conventional wisdom-based strategy in emerging markets are more than ten years old. To help fill this gap, this paper proposes a holistic analytical framework for strategists to re-assess risks and opportunities in the BRICS. We illustrate how five basic assumptions can be proven wrong and lead to the creation of unconventional wisdom that can help derive some strategic insights. We find that rebuilding the BRICS for them to be more resilient is possible, if not vital, for the health of the global economy.

Compressed Development

2020 ◽  
Author(s):  
D. Hugh Whittaker ◽  
Timothy Sturgeon ◽  
Toshie Okita ◽  
Tianbiao Zhu
Keyword(s):  
Social Development ◽  
Global Economy ◽  
National Development ◽  
Value Chains ◽  
Middle Income ◽  
The United Kingdom ◽  
Development Processes ◽  
Multiple Levels ◽  
New Perspective ◽  
The One

This book highlights the importance of time and timing in economic and social development. ‘Compressed development’ consists of two key features and their interaction: the tendency for development processes to unfold more rapidly (compression) and the institution-shaping influences of major periods of change and growth, especially when countries become integrated into the global economy (era). Using an interdisciplinary conceptual framework of state–market and organization–technology co-evolution, the authors contrast the experiences of ‘early’ and ‘late’ developers such as the United Kingdom and Japan, with countries–most notably China–which have become more deeply integrated with the global economy since the 1990s. Compressed developers experience ‘thin industrialization’, layered types of employment, and ‘double burdens’ or challenges in social development. National development strategies must accommodate global value chains and powerful international actors on the one hand, and decentralization on the other. To cope, and thrive, states must remain developmental, whilst being increasingly engaged and adaptive in multiple levels of governance. Compressed Development explores the historical and contemporary features of economic and social development at the intersection of development studies and studies of globalization. By bringing a new perspective on the ‘middle-income trap’, as well as the emerging digital economy, and the state–market and geopolitical tensions that are currently upending conventional wisdoms, the book offers timely insights that will be useful, not only for students of development, but for policymakers, business, and labour organization seeking to navigate the rushing currents of contemporary capitalism.

Transnational Standards and Empty Spaces

2018 ◽  
Author(s):  
Tim Bartley
Keyword(s):  
Global Economy ◽  
Comparative Approach ◽  
Transnational Governance ◽  
Production Networks ◽  
Global Production Networks ◽  
Global Order ◽  
Private Regulation ◽  
Middle Income ◽  
Middle Income Countries ◽  
Making Sense

A vast new world of transnational standards has emerged, covering issues from human rights to sustainability to food safety. This chapter develops a framework for making sense of this new global order. It is tempting to imagine that global rules can and should bypass corrupt, incapacitated, or illegitimate governments in poor and middle-income countries. This assumption must be rejected if we want to understand the consequences of global rules and the prospects for improvement. After showing how a combination of social movements, global production networks, and neoliberalism gave rise to transnational private regulation, the chapter builds the foundations for the comparative approach of this book. The book’s comparative analysis of land and labor in Indonesia and China sheds light on two key fields of transnational governance, their implications in democratic and authoritarian settings, and the problems of governing the global economy through private regulation.

The Oxford Handbook of Management in Emerging Markets

2018 ◽  
Keyword(s):  
Emerging Markets ◽  
Coming Out ◽  
Global Economy ◽  
Primary Source ◽  
Production Networks ◽  
Global Knowledge ◽  
Business Systems ◽  
Competitive Strategies ◽  
Fundamental Building Block ◽  
The World

Emerging Markets are the primary source of growth for business in the 21st century. This makes an understanding of managing businesses in emerging markets a fundamental building block for competing in today's global economy. This book's approach is to identify key elements of the business systems and competition in emerging markets around the world, and then to look at competitive strategies of local and multinational companies going into and coming out of these countries. Specific focus is offered on a selection of countries/regions. These emphases should serve both researchers and managers interested in knowing more about managing firms in emerging markets in general and in specific countries in particular. The essays highlight the tension between local and global knowledge, that is, views of business that apply everywhere around the world versus views that are particular to emerging markets. The essays also explore the role of local and international firms operating in emerging markets within global value chains or production networks.

The Comparative Political Economy of Growth Models: Explaining the Continuity of FDI-Led Growth in Ireland and Hungary

2021 ◽  
Vol 49 (1) ◽  
pp. 75-106
Author(s):  
Dorothee Bohle ◽  
Aidan Regan
Keyword(s):  
Capital Investment ◽  
Multinational Firms ◽  
Growth Models ◽  
Case Study Research ◽  
Comparative Case Study ◽  
Oriented Growth ◽  
Political Determinants ◽  
Growth Regime ◽  
Business Power ◽  
Comparative Capitalism

This article argues that the quiet politics of informal business-state interaction explains the political determinants of growth regimes. Building on the business power literature within the study of comparative capitalism, it shows that the noisy politics of elections often leads to changes of government but rarely to fundamental changes in the growth regime. Rather, growth models can be traced to the interactions and interests of dominant corporations within a country and its policymaking elites. The argument is developed through a comparative case study research design, using the case of foreign direct investment–led (FDI-led) growth in Ireland and Hungary. FDI-led growth regimes are a universe of cases that rely on state-led industrial and enterprise policies targeting the capital investment of foreign-owned multinational firms. Despite periods of noisy electoral politics challenging basic tenets of the FDI-led growth model in both Hungary and Ireland, the continuity of FDI-oriented growth is traced to the corporate politics of business-state elite deals.

Impact of COVID-19 on FDIs, Remittances and Foreign Aids: A Case Study of Nepal

2021 ◽  
pp. 097639962097420
Author(s):  
Gaurav Bhattarai ◽  
Binita Subedi
Keyword(s):  
United Nations ◽  
Low Income ◽  
Global Economy ◽  
Grey Literature ◽  
Foreign Assistance ◽  
Foreign Direct Investments ◽  
Middle Income ◽  
Low Income Country ◽  
The Government ◽  
The Impact

The global economy has been severely paralysed, owing to the unprecedented crisis triggered by the COVID-19 pandemic, and different studies have indicated that the crisis is relatively more maleficent to the lower-income and middle-income economies. Methodologically, this study relied on the review and analysis of the grey literature, media reporting and data published by the Asian Development Bank, United Nations Conference on Trade and Development (UNCTAD), United Nations (UN), World Bank, International Monetary Fund (IMF) among others. The article begins by describing the impact of the pandemic on low-income and middle-income countries, and it discusses how they have responded to the crisis. While discussions have surfaced regarding whether COVID-19 will reverse the process of globalization, what will be its impact on the low-income country like Nepal? The study also highlights that with foreign direct investments speculated to shrink and foreign assistance and remittance taking a hit, how is Nepal struggling to keep its economy afloat? Analysing the new budget that the government unveiled in 2020, this study concludes with a note that instead of effectively implementing the plans and policies directed by the budget, Nepal is unnecessarily engaged in political mess and is needlessly being dragged into the geopolitical complications.

scholarly journals Health workers’ perspectives on informed consent for caesarean section in Southern Malawi

2021 ◽  
Vol 22 (1) ◽  
Author(s):  
Wouter Bakker ◽  
Siem Zethof ◽  
Felix Nansongole ◽  
Kelvin Kilowe ◽  
Jos van Roosmalen ◽  
...  
Keyword(s):  
Informed Consent ◽  
Caesarean Section ◽  
Health Workers ◽  
Group Discussion ◽  
Legal Protection ◽  
Analytical Framework ◽  
Structured Interviews ◽  
Middle Income ◽  
Partial Disclosure ◽  
Labour Pains

Abstract Objective Informed consent is a prerequisite for caesarean section, the commonest surgical procedure in low- and middle-income settings, but not always acquired to an appropriate extent. Exploring perceptions of health care workers may aid in improving clinical practice around informed consent. We aim to explore health workers’ beliefs and experiences related to principles and practice of informed consent. Methods Qualitative study conducted between January and June 2018 in a rural 150-bed mission hospital in Southern Malawi. Clinical observations, semi-structured interviews and a focus group discussion were used to collect data. Participants were 22 clinical officers, nurse-midwives and midwifery students involved in maternity care. Data were analysed to identify themes and construct an analytical framework. Results Definition and purpose of informed consent revolved around providing information, respecting women’s autonomy and achieving legal protection. Due to fear of blame and litigation, health workers preferred written consent. Written consent requires active participation by the consenting individual and was perceived to transfer liability to that person. A woman’s refusal to provide written informed consent may pose a dilemma for the health worker between doing good and respecting autonomy. To prevent such refusal, health workers said to only partially disclose surgical risks in order to minimize women's anxiety. Commonly perceived barriers to obtain a fully informed consent were labour pains, language barriers, women’s lack of education and their dependency on others to make decisions. Conclusions Health workers are familiar with the principles around informed consent and aware of its advantages, but fear of blame and litigation, partial disclosure of risks and barriers to communication hamper the process of obtaining informed consent. Findings can be used to develop interventions to improve the informed consent process.

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