Varieties of regulatory regimes

47 Pages Posted: 2 Aug 2021

See all articles by Vlad Tarko

Vlad Tarko

University of Arizona - Department of Political Economy and Moral Science

Ryan Safner

Hood College

Date Written: July 27, 2021


This paper presents an empirical account of the diversity of regulatory developments over the past fifty years, and provides a theoretical framework for understanding this diversity. We build upon the "varieties of capitalism" and the "regulatory capitalism" literatures which provide methods for exploring institutional diversity, and hypotheses about the causes of regulatory diversity. We build a theory of political entrepreneurship under fiscal constraints that expands Stigler's (1971) account of the demand and supply of regulations by including deficit finance and public opinion in the analysis. This framework (a) allows the creation of country-specific analytic narratives, and (b) provides a fuller account of government crowding-out and crowding-in effects, showing how the crowding-out in can occur across the entire structure of production.

Keywords: varieties of capitalism, regulatory capitalism, neoliberalism, political entrepreneurship, deficit finance

JEL Classification: P1, P16, P51

Suggested Citation

Tarko, Vlad and Safner, Ryan, Varieties of regulatory regimes (July 27, 2021). Available at SSRN: or

Vlad Tarko (Contact Author)

University of Arizona - Department of Political Economy and Moral Science ( email )

Tucson, AZ
United States

Ryan Safner

Hood College ( email )

401 Rosemont Avenue
Frederick, MD 21701
United States

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