Varieties of Capitalism in History, Transition and Emergence: New Perspectives on Institutional Development, 1st Edition (e-Book) book cover

Varieties of Capitalism in History, Transition and Emergence

New Perspectives on Institutional Development, 1st Edition

By Martha Prevezer


282 pages | 1 B/W Illus.

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pub: 2017-03-22
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Economics tends to teach that developed countries have good institutions while developing countries do not, and that this is the factor that constrains the latter's growth. However, the picture is far messier than this explanation suggests.

Building on the varieties of capitalism framework, this book brings together the tools of institutional economics with historical analyses of institutional evolution of different kinds of property rights and legal systems, protected by different kinds of state, giving rise to distinct corporate governance structures. It constructs institutional development histories across leading liberal capitalisms in Britain and the United States, compared with continental capitalisms in France and Germany, and contemporary transitional capitalisms in China and Tanzania. This volume is innovative in combining both historical and economic insights, and in combining developed country with developing country institutional emergence, dispelling the prevailing sense of complacency about the inevitability of the path of institutional development for the developed areas of the world and the paths that developing countries are likely to follow.

This volume will be of great importance to those who study international economics, development economics and international business.

Table of Contents

1. Introduction


2. Primary institutions: Property rights, legal systems and the state - theories and concepts

3. Meso-institutions


4. How did Britain’s ‘good institutions' evolve, and how good were they?

5. Continental variety of capitalism: France and Germany compared with Britain

6. The United States compared with Britain


7. Institutions debate for development: Theories, concepts and institutional development in Tanzania

8. China in its institutional transition to capitalism

9. Conclusions

About the Author

Martha Prevezer is Senior Lecturer at the School of Business and Management, Queen Mary University of London, UK. She has worked in various policy arenas, at the Bank of England, the National Economic Development Office (NEDO) and London Business School.

About the Series

Routledge Studies in the Modern World Economy

In an increasingly interdependent world, many of the most important issues are driven by economic forces. This series applies newly developed economic techniques to some of the most pressing contemporary problems. The aim of the series is to demonstrate the relevance of modern economic theory to the modern world economy, and to provide key reading for researchers and policy-makers.

Learn more…

Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / International / Economics
BUSINESS & ECONOMICS / Development / General