Varieties of Liberalism: Anglo-Saxon Capitalism in Crisis?

56 Pages Posted: 20 Sep 2011

See all articles by Suzanne J. Konzelmann

Suzanne J. Konzelmann

University of London - Birkbeck College - Faculty of Social Sciences, School of Management and Organizational Psychology; University of Cambridge - Faculty of Social and Political Sciences

Marc Fovargue-Davies

University of London - The London Centre for Corporate Governance & Ethics

Gerhard Schnyder

Loughborough University London - Institute for International Management; University of Cambridge - Centre for Business Research; King's College London

Date Written: June 1, 2010

Abstract

‘Global financial crisis’ is an inaccurate description of the current upheaval in the world’s financial markets. The initial banking crisis did not affect all countries to the same degree. Notably, while the US and UK banking systems were badly hit, those of the other two major Anglo-Saxon economies, Canada and Australia, remain largely unscathed and have even gained in terms of global market share. The national business systems and comparative corporate governance literature underscore the similarities among these four ‘liberal market economies’ (LMEs) and would predict similar trajectories. This paper investigates the reasons behind the differing performance of the Anglo-Saxon banking systems, which defy a verdict of failure of the LME variety of capitalism as such.

Keywords: Corporate Governance, Regulation, Financial Market Instability

JEL Classification: E32, E44, G38, N10, N20, P17

Suggested Citation

Konzelmann, Suzanne J. and Fovargue-Davies, Marc and Schnyder, Gerhard, Varieties of Liberalism: Anglo-Saxon Capitalism in Crisis? (June 1, 2010). Available at SSRN: https://ssrn.com/abstract=1929627 or http://dx.doi.org/10.2139/ssrn.1929627

Suzanne J. Konzelmann (Contact Author)

University of London - Birkbeck College - Faculty of Social Sciences, School of Management and Organizational Psychology ( email )

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HOME PAGE: http://www.bbk.ac.uk/management/our-staff/academics/konzelmann

University of Cambridge - Faculty of Social and Political Sciences ( email )

ESRC Centre for Business Research
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Marc Fovargue-Davies

University of London - The London Centre for Corporate Governance & Ethics ( email )

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WC1E 7HX
London, WC1E 7HX
United Kingdom

Gerhard Schnyder

Loughborough University London - Institute for International Management ( email )

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Great Britain
+44 (0)20 3805 1360 (Phone)

University of Cambridge - Centre for Business Research ( email )

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Cambridge, CB2 1AG
United Kingdom
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HOME PAGE: http://www.cbr.cam.ac.uk/people/research-associates/gerhard-schnyder/

King's College London ( email )

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HOME PAGE: http://www.kcl.ac.uk/schools/sspp/mgmt/people/academic/schnyder/

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