Documents Nölke, Andreas 8 results

"The article discusses advances and limitations of Comparative Capitalism scholarship on the causes of the Eurozone crisis. It explains the crisis by highlighting four basic mechanisms: first, the absence of a system of coordinated wage bargaining has been made responsible for the loss of cost competitiveness. Second, the specialization in price-sensitive medium-quality goods and the corresponding loss of market shares to emerging markets has been attributed to the weak innovation systems of Southern economies. Third, the loss of competitiveness has been masked temporarily by a strong increase of public indebtedness and, fourth, private household indebtedness. These four explanations do not put the blame for the Eurozone crisis on a single government or a single type of actors, but rather highlight the systemic causes for the crisis, brought about by the construction of a common currency for institutionally very heterogeneous economies."

"Seit mehr als drei Jahrzehnten charakterisiert zunehmende Finanzialisierung, also der wachsende Einfluss des Finanzsektors und dessen Funktionslogik, die europäische Wirtschaft. Dieser Prozess führt nicht nur zu wachsender ökonomischer Instabilität, sondern auch zu zunehmender sozialer Ungleichheit. Wesentliche Triebkraft der zunehmenden Finanzialisierung in Europa ist die Binnenmarktregulierung der EU, jüngst noch verstärkt durch die Euroeinführung und die Programme zur Eurostabilisierung. Die EU wäre potenziell die am besten geeignete Institution, um Finanzialisierung im Sinne eines sozialen Europas einzuhegen. Sowohl die rechtlichen Grundlagen als auch die politischen Kräfteverhältnisse in der EU lassen aber eher eine weitere Vertiefung der Finanzialisierung erwarten."

"The rise of multinational corporations (MNCs) from emerging markets has been a major development during the last decade. An important feature of emerging market MNCs is their close relationship with home states. This book investigates this special kind of relationship and explores how it affects the cross-border activities of these corporations. In order to address this task, it opts for an integration of approaches traditionally kept apart because of the disciplinary separation between International Business and International Political Economy. Based on country case studies of the most important emerging markets, as well as of investigations into selected international institutions, it highlights the emergence of a third wave of state capitalism that is different from the previous two in the 19th and 20th centuries. State capitalism 3.0 is neither based on prohibitive tariffs, nor on one central command, but rather on a variety of formal and informal cooperative relationships between various public authorities and individual companies."

"This article enlarges the existing literature on the varieties of capitalism by identifying a third basic variety that does not resemble the liberal market economy or coordinated market economy types. The dependent market economy (DME) type, as it is named by the authors, is characterized by the importance of foreign capital for the socioeconomic setup and is located in postsocialist Central Europe. Since the collapse of state socialism in the late 1980s, the Czech Republic, Hungary, Poland, and the Slovak Republic have introduced a rather successful model of capitalism when compared with other postsocialist states. This article identifies the key elements of the DME model and discusses their interplay. DMEs have comparative advantages in the assembly and production of relatively complex and durable consumer goods. These comparative advantages are based on institutional complementarities between skilled, but cheap, labor; the transfer of technological innovations within transnational enterprises; and the provision of capital via foreign direct investment."