Dual Convergence or Hybridization? Institutional Change in Italy and Greece from the Varieties of Capitalism Perspective

CEU Political Science Journal, Vol. 6, No. 1, pp. 47-82, 2011

36 Pages Posted: 5 Jun 2011

Date Written: April 1, 2011

Abstract

The article tracks institutional changes within two central spheres for Varieties of Capitalism (VoC) theory: the industrial relations system and the finance/corporate governance system. Italy and Greece are examined in comparative perspective vis-à-vis CME and LME paradigm cases. The review of recent developments reveals that while industrial relations in both countries show signs of greater coordination, the finance/corporate governance system acquired increasingly liberal market characteristics. Thereby, this analysis casts doubt to the dual convergence thesis, arguing that the hybrid character of the two countries was exacerbated over the last two decades.

Keywords: corporate governance, industrial relations, comparative political economy, Greece, Italy.

JEL Classification: D40, E42

Suggested Citation

Kornelakis, Andreas, Dual Convergence or Hybridization? Institutional Change in Italy and Greece from the Varieties of Capitalism Perspective (April 1, 2011). CEU Political Science Journal, Vol. 6, No. 1, pp. 47-82, 2011. Available at SSRN: https://ssrn.com/abstract=1858030

Andreas Kornelakis (Contact Author)

King's College London ( email )

London
United Kingdom

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