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This book presents the results of a collective and original empirical investigation of the institutional systems underlying the capitalisms that are coming to the fore in developing nations. While varieties of industrialized countries’ capitalisms are extensively scrutinized, those of developing countries’ capitalisms are far less documented. By implementing a unified and original comparative approach based on the institutional complementarity theory, the different contributors of the book find evidence for the originality and heterogeneity of the forms of capitalism to be observed in developing countries. This text analyses capitalist systems as clusters of sectoral institutions and regulations, identifying differences between these clusters in a large sample of emerging and developing countries. Rougier and Combarnous bring together contributions answering the following questions: What are these clusters of institutions underlying emerging capitalisms? Are there common or specific patterns of institutional clustering across countries and what are the main characteristics of the varieties of capitalism they shape? What are their main long-term determinants? Are there specific patterns of economic outcome associated with these clusters? Can different forms of institutional complementarity be observed? How can we analyse institutional reform from this perspective?

Inhaltsverzeichnis

Frontmatter

Analysing Capitalisms as Institutional Systems: Our Approach

Frontmatter

1. Analysing the Capitalisms of Developing Countries: What’s the Point?

Abstract
This chapter provides a general introduction to the book. It consists of a non-technical presentation of the research project and of the contents of the book. The author (Eric Rougier) insists there is a new challenge placed on scholars interested in international development, as most emerging economies have become competitive production systems in the globalized economy. These major changes call for a comprehensive analysis of the capitalist systems of those countries, and of their specificities in respect to both mature capitalist economies and poorer developing countries. The introduction also situates the contents of the book in relation to the existing literature on comparative capitalism and asks a series of important questions addressed by the book.
Eric Rougier

2. Existing Typologies of Developing Countries’ Institutional Systems

Abstract
In this chapter, the author (Eric Rougier) first describes the dominant vision of institutions and development tending to disregard an institutional system’s complexity by reducing it to a limited set of very general one-dimensional institutions and then explains that institutions are best analysed as systems since they tend to cluster their effects on economic outcomes. The chapter proceeds by discussing how another strand of the institutional literature, dealing with the varieties of mature capitalisms, has opened the black box of institutional systems, suggesting the promising avenues for the comparative study of the developing countries’ specific forms of capitalism followed by the book. The author ultimately overviews existing typologies of developing countries’ economic systems and questions the extent to which they are effectively based on the examination of clusters of institutions.
Eric Rougier

3. Systems, Institutional Complementarities and Politics: Various Methodological Considerations

Abstract
In this chapter, the two authors (François Combarnous and Eric Rougier) describe the empirical approach implemented throughout the different contributions of the book. The key assumption that variants of developing countries’ capitalist models can be characterized by a set of sector-related types of institutional governance is first formulated and elaborated. Then, the seven sectors to these governance sets are described and justified: labour, competition, social protection, education, and finance, standard in the comparative capitalism (CC) literature, to which agriculture and the environment have been added. Theoretical complementarities and possible trade-offs between these seven areas are then commented on, before the authors introduce the concepts of ex ante, ex post, progressive and regressive institutional complementarities in order to adapt the institutional complementarity theory to the specific context of developing countries. Ultimately, the theoretical articulation of economic and political institutions is described and the various consequences of this articulation for the analysis are drawn.
François Combarnous, Eric Rougier

The Seven Sectors of Institutional Governance

Frontmatter

4. Labour and Production Relations

Abstract
In this chapter, the author (Ela Callorda Fossati) first reviews the relevant literature, before introducing gender as a dimension of characterization that is crucial to understanding the functioning of labour and production relations in developing countries. The statistical analysis shows that labour-sector governing institutions are differentiated along three main lines: the extent of decommdification (versus informal labour), the degree of openness and flexibility (versus closed labour force and rigid contracts) and the range of democratic-representative (versus authoritarian-paternalistic) patterns of labour institutionalization. Five distinct labour and production relation governance models are then identified in the 139-country sample. Surprisingly, most emerging economies exhibit liberal or coordinated labour and production relations to some extent similar to what can be observed in mature liberal and coordinated market economies. By contrast, the informal type of labour market governance includes many of the poorest world economies. The other emerging economies exhibit paternalistic or idiosyncratic labour governance models.
Ela Callorda Fossati

5. Education and Training

Abstract
In this chapter, the author (Coralie Reslinger) uses cross-country data on educational systems to draw a new typology of educational governance models. She finds two main lines of differentiation between national educational sector governance: the degree of sophistication of the education system, and the orientation of the system towards generalist or specific technical skills. Among the four distinct types of educational sector governance then identified, the upgrading export-oriented education model characterized by a strong government emphasis on developing certain prioritized tradable skills appears highly original. The idiosyncratic type of educational sector governance corresponds to very specific education systems that cannot be assigned to the other types. Emerging market economies can be found in all three groupings, suggesting that there is not an intermediate model typical of middle-income countries.
Coralie Reslinger

6. Product Market and Competition

Abstract
In this chapter, the author (Eric Rougier) first argues that real-life competition generally consists of complex systems of legal regulations, firms’ strategies and public policies, and cannot be expressed as simple scores on a product market liberalization scale. The author then shows that types of product market governance are differentiated along two main lines: the degree of product market regulation (red tape, business climate, taxes), and the style of state interventionism, involving either traditional directive industrial and trade policies, or policies focused on Foreign Direct Investment (FDI) attraction and short-run integration into world value chains. The countries are consequently distributed into five different types: the liberalized deregulated, export-oriented, statist partially liberalized, statist protected and idiosyncratic. The chapter ends with a discussion of those models.
Eric Rougier

7. Social Protection

Abstract
This chapter analyses models of social protection. The author (Matthieu Clément) first discusses several recent programmes and proceeds by implementing Esping-Andersen’s analytical framework accounting for the plurality of social protection logics and actors. He finds that the two main dimensions that help differentiate social protection types across countries are the extent of decommodification and the extent of informal social protection. Four models of social protection are identified. Although China, India or Brazil, together with Latin American reformers, all fall into the USA-like liberal type, the other emerging countries fall into the social insecurity model, with migrant remittances playing a key role in bolstering family income in the country of origin. The last two models, which are specific to developing economies, are described in detail.
Matthieu Clément

8. Finance and Credit Market

Abstract
In this chapter, the author (Dalila Nicet-Chenaf) draws from the literature a set of variables describing financial systems, their different forms and type of institutional governance. The analysis then proceeds by contrasting the various types of financial sector governance in terms of their degree of financial depth and their particular banking and market-finance mix, four financial models are identified. The intermediated (repressed) model is typical of many developing and emerging economies. It is characterized by limited financial depth, high state banking sector regulation levels, financial repression and low levels of investor and creditor protection. Some emerging economies exhibit embryonic models marked by intermediate degrees of financial depth and a significant bias towards banking finance. The mature model has high depth and relatively even proportions of banking and market finance.
Dalila Nicet-Chenaf

9. Agriculture

Abstract
In this chapter, the authors (Claire Gondard-Delcroix and Céline Bonnefond) argue that the complex relations between agents supported by land use institutions have tended to be disregarded by existing typologies. The authors propose an original analysis establishing a typology of national agricultural governance models. Their analysis first distinguishes three main dimensions along which agricultural systems are differentiated: the type of public transfer schemes, the opposition between food and cash crops, and the place of smallholdings within the global system. Then, four distinct models are identified: the traditional, where weakly productive agriculture is combined with traditional land tenure systems, the dualistic, articulating intermediate levels of productivity with high degrees of insecurity and conflicts over land rights, modern formalized and idiosyncratic agricultural governance types.
Céline Bonnefond, Claire Gondard-Delcroix

10. Environmental Regulation Models

Abstract
Although many developing countries have started to incorporate the environmental dimension in their bodies of laws, environmental regulation is conspicuously absent from existing studies of capitalism. The chapter’s author (André Meunié) finds national environmental governance to be differentiated by the effectiveness of local institutions governing natural resources, and by the degrees of private sector involvement, participation in international coalitions and protection of biodiversity. Four models of environmental governance are identified. As for developing countries, the biodiversity-focused type includes countries endowed with exceptional local environmental resources and having adopted “hot spot” preservation schemes while weakly governed countries feature significantly weak overall environmental regulation. Included in the idiosyncratic type is an interesting group of emerging countries, with weak environmental governance and a strong involvement in international regulation.
André Meunié

Varieties of Emerging Capitalism, Institutional Complementarities and Trajectories

Frontmatter

11. The 2 + 4 Varieties of Capitalist Systems

Abstract
In this chapter, the authors (Eric Rougier and François Combarnous) identify and specify the six models of capitalism determined by clustering the country-specific sets of the seven types of sectoral governance detailed in the preceding chapters. The Liberal Market and Coordinated Market models are highly typical of OECD economies. In what specifically concerns developing and emerging economies, four distinctive models, the Globalization-Friendly, Resource-Dependent Statist, Informal (Weak State) and Hybrid-Idiosyncratic, have been found. One key result of the chapter is that institutional experimentation shows a strong pattern of differentiation between developing countries’ capitalisms, since transitional institutional models, that is, those that are no longer informal but not yet totally formal and OECD-style, are either non experimental (Statist Resource-Dependent or Globalization-Friendly) or experimental (Hybrid-Idiosyncratic).
Eric Rougier, François Combarnous

12. Institutional Complementarities, Hierarchies and Reinforcing Factors

Abstract
This chapter details firstly the historical, geographical and political determinant correlates of the six different models of capitalism, and secondly, various dimensions of economic performance (income level and growth, inequality, trade specialization, and so on.). The authors (Eric Rougier and François Combarnous) examine whether those historical conditions have exerted an influence on the shape of current economic systems. Subsequently, the political economies of the six models are characterized by considering constitutional characteristics, democratic outcomes, and state capacities. Finally, each one of our models is characterized with respect to various economic and social outcomes in order to check if there is a form of institutional socioeconomic or political advantage.
François Combarnous, Eric Rougier

13. Institutional Trajectories: Three Comparative Case Studies

Abstract
The two authors (François Combarnous and Eric Rougier) compare the historical trajectories of three regional pairs of developing countries (Ghana–Côte d’Ivoire, Mexico–Brazil, and Malaysia–Indonesia) and describe what drove countries with fairly similar initial conditions to adopt contrasted institutional systems. The chapter shows that, in the aftermath of political (decolonization) or economic shocks (external or domestic financial crises), different domestic conditions (in terms of dominant coalitions or of the degree of democracy), together with different economic and political relationships with the former colonial power and transnational corporations, gave rise to diverging institutional trajectories. Whereas certain countries could progressively assemble polymorphic and functional systems of sectoral institutions, others failed to do so since they could only combine types of institutional governance that would appear, ex post, to be non-complementary and, therefore, dysfunctional.
François Combarnous, Eric Rougier

Emerging Capitalisms and Paths of Institutional Reforms in Developing Countries

Frontmatter

14. Emerging Capitalisms and Institutional Reforms in Developing Countries

Abstract
In the final chapter, the editors (Eric Rougier and François Combarnous) provide their answers to the main questions raised in the book’s introduction. They then proceed to highlight two key aspects of the cross-country institutional discrepancies: the type of state intervention in socioeconomic governance and the role played by experimentation in shaping this type of socioeconomic governance. The policy implications of the book’s main results are then addressed, with special focus being put on institutional reforms in poor countries. Several policy-related proposals are then discussed, especially as regards institutional change and reforms in poor and middle-income countries: Should institutional reforms be coordinated or not? Are there successful “super-reformers” to be imitated by other countries? Is there still scope for individual experimentation? Finally, new horizons for research are suggested.
Eric Rougier, François Combarnous

Backmatter

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