Edited by Marino Regini, Professor Emeritus of Economic Sociology, Department of Social and Political Sciences, University of Milan, Italy

‘To understand the field of comparative political economy – the history and the current state-of-the-art, the big picture and the fine details, the frameworks and the findings, the concepts and the comparisons, the agreements and disagreements, the questions answered and those yet to be explored – this Handbook is the place to go.’

• ContentsPreface and Acknowledgements xiINTRODUCTIONComparative political economy: an evolving field of interdisciplinary research 2Marino ReginiPART I THEORETICAL FRAMEWORKS AND DOMINANT APPROACHES1 Neo-institutionalism: the role of institutions in political-economicperformance 30John L. Campbell2 Power resources theory and distributive outcomes 48Evelyne Huber and John D. Stephens3 The role of ideas and discourse in comparative political economy 68Vivien A. Schmidt4 The varieties of capitalism theory revisited 87Colin Crouch5 The growth model approach to political economy 102Lucio Baccaro and Jonas Pontusson6 Understanding how political economies change 119Peter A. HallPART II THE MAIN ACTORS IN COMPARATIVE POLITICAL ECONOMY7 States making markets and markets making states 137Ulrike Lepont, Desmond King and Patrick Le Galès8 Governing money: Central banks in international and comparative politicaleconomy 153Manuela Moschella9 Business power in contemporary democracies 168Pepper D. Culpepper10 The role of employers’ associations 183Emmanuele Pavolini, Sabrina Colombo and David Natali11 The role of trade unions 202Guglielmo Meardi12 Families as economic and social actors 220Gøsta Esping-AndersenPART III INSTITUTIONS AND POLICY AREAS13 The political economy of the welfare state: From power resources tovarieties of capitalism to growth strategies 235Anke Hassel and Bruno Palier14 Labour market policy in comparative political economy research 253Georg Picot15 The comparative political economy of industrial relations 267Chiara Benassi, Lisa Dorigatti and Arianna Tassinari16 The political economy of skill formation 286Marius R. Busemeyer17 Industrial policies 303Alberta Andreotti, Luigi Burroni and Ivana Pais18 The changing role of finance in comparative political economy 322Sofia A. PérezPART IV VARIETIES OF CAPITALISM AT THE GLOBAL LEVEL19 The political economy of Chinese development 342Margaret M. Pearson, Meg Rithmire and Kellee S. Tsai20 Capitalism, democracy and development in newly advanced East Asia:South Korea, Taiwan and Singapore 361Nahee Kang, Bo-Jiun Jing and Jessica Loy21 Capitalism in Latin America: Varieties, models, and dependencies 376Isadora Araujo Cruxên and Ben Ross Schneider22 Firms and economic development in the semi-periphery 395Sonja Avlijaš and Kira Gartzou-Katsouyanni23 Global varieties of capitalism: The future or no future? 414Michael A. WittPART V SHIFTING BOUNDARIES AND NEW THEMES24 The relationship(s) between comparative and international politicaleconomy 435Mark Blyth25 Comparative political economy and social stratification research: Varietiesof social mobility? 452Gabriele Ballarino and Floriane Bolazzi26 Growth models and the politics of social reproduction 470Dorothee Bohle27 Culture and the study of comparative political economies 487Cathie Jo Martin28 Models of capitalism and types of democracy 503Carlo Trigilia29 Climate change as a new research field for comparative political economy 517Hanna Schwander30 The second digital revolution: superstar clusters and the polarizingreinvention of advanced capitalism 536David SoskiceEPILOGUEComparative political economy: past, present, future 555Wolfgang Streeck

Edited by Marino Regini, Professor Emeritus of Economic Sociology, Department of Social and Political Sciences, University of Milan, Italy

‘To understand the field of comparative political economy – the history and the current state-of-the-art, the big picture and the fine details, the frameworks and the findings, the concepts and the comparisons, the agreements and disagreements, the questions answered and those yet to be explored – this Handbook is the place to go.’

• ContentsPreface and Acknowledgements xiINTRODUCTIONComparative political economy: an evolving field of interdisciplinary research 2Marino ReginiPART I THEORETICAL FRAMEWORKS AND DOMINANT APPROACHES1 Neo-institutionalism: the role of institutions in political-economicperformance 30John L. Campbell2 Power resources theory and distributive outcomes 48Evelyne Huber and John D. Stephens3 The role of ideas and discourse in comparative political economy 68Vivien A. Schmidt4 The varieties of capitalism theory revisited 87Colin Crouch5 The growth model approach to political economy 102Lucio Baccaro and Jonas Pontusson6 Understanding how political economies change 119Peter A. HallPART II THE MAIN ACTORS IN COMPARATIVE POLITICAL ECONOMY7 States making markets and markets making states 137Ulrike Lepont, Desmond King and Patrick Le Galès8 Governing money: Central banks in international and comparative politicaleconomy 153Manuela Moschella9 Business power in contemporary democracies 168Pepper D. Culpepper10 The role of employers’ associations 183Emmanuele Pavolini, Sabrina Colombo and David Natali11 The role of trade unions 202Guglielmo Meardi12 Families as economic and social actors 220Gøsta Esping-AndersenPART III INSTITUTIONS AND POLICY AREAS13 The political economy of the welfare state: From power resources tovarieties of capitalism to growth strategies 235Anke Hassel and Bruno Palier14 Labour market policy in comparative political economy research 253Georg Picot15 The comparative political economy of industrial relations 267Chiara Benassi, Lisa Dorigatti and Arianna Tassinari16 The political economy of skill formation 286Marius R. Busemeyer17 Industrial policies 303Alberta Andreotti, Luigi Burroni and Ivana Pais18 The changing role of finance in comparative political economy 322Sofia A. PérezPART IV VARIETIES OF CAPITALISM AT THE GLOBAL LEVEL19 The political economy of Chinese development 342Margaret M. Pearson, Meg Rithmire and Kellee S. Tsai20 Capitalism, democracy and development in newly advanced East Asia:South Korea, Taiwan and Singapore 361Nahee Kang, Bo-Jiun Jing and Jessica Loy21 Capitalism in Latin America: Varieties, models, and dependencies 376Isadora Araujo Cruxên and Ben Ross Schneider22 Firms and economic development in the semi-periphery 395Sonja Avlijaš and Kira Gartzou-Katsouyanni23 Global varieties of capitalism: The future or no future? 414Michael A. WittPART V SHIFTING BOUNDARIES AND NEW THEMES24 The relationship(s) between comparative and international politicaleconomy 435Mark Blyth25 Comparative political economy and social stratification research: Varietiesof social mobility? 452Gabriele Ballarino and Floriane Bolazzi26 Growth models and the politics of social reproduction 470Dorothee Bohle27 Culture and the study of comparative political economies 487Cathie Jo Martin28 Models of capitalism and types of democracy 503Carlo Trigilia29 Climate change as a new research field for comparative political economy 517Hanna Schwander30 The second digital revolution: superstar clusters and the polarizingreinvention of advanced capitalism 536David SoskiceEPILOGUEComparative political economy: past, present, future 555Wolfgang Streeck

Edited by Marino Regini, Professor Emeritus of Economic Sociology, Department of Social and Political Sciences, University of Milan, Italy

‘To understand the field of comparative political economy – the history and the current state-of-the-art, the big picture and the fine details, the frameworks and the findings, the concepts and the comparisons, the agreements and disagreements, the questions answered and those yet to be explored – this Handbook is the place to go.’

• ContentsPreface and Acknowledgements xiINTRODUCTIONComparative political economy: an evolving field of interdisciplinary research 2Marino ReginiPART I THEORETICAL FRAMEWORKS AND DOMINANT APPROACHES1 Neo-institutionalism: the role of institutions in political-economicperformance 30John L. Campbell2 Power resources theory and distributive outcomes 48Evelyne Huber and John D. Stephens3 The role of ideas and discourse in comparative political economy 68Vivien A. Schmidt4 The varieties of capitalism theory revisited 87Colin Crouch5 The growth model approach to political economy 102Lucio Baccaro and Jonas Pontusson6 Understanding how political economies change 119Peter A. HallPART II THE MAIN ACTORS IN COMPARATIVE POLITICAL ECONOMY7 States making markets and markets making states 137Ulrike Lepont, Desmond King and Patrick Le Galès8 Governing money: Central banks in international and comparative politicaleconomy 153Manuela Moschella9 Business power in contemporary democracies 168Pepper D. Culpepper10 The role of employers’ associations 183Emmanuele Pavolini, Sabrina Colombo and David Natali11 The role of trade unions 202Guglielmo Meardi12 Families as economic and social actors 220Gøsta Esping-AndersenPART III INSTITUTIONS AND POLICY AREAS13 The political economy of the welfare state: From power resources tovarieties of capitalism to growth strategies 235Anke Hassel and Bruno Palier14 Labour market policy in comparative political economy research 253Georg Picot15 The comparative political economy of industrial relations 267Chiara Benassi, Lisa Dorigatti and Arianna Tassinari16 The political economy of skill formation 286Marius R. Busemeyer17 Industrial policies 303Alberta Andreotti, Luigi Burroni and Ivana Pais18 The changing role of finance in comparative political economy 322Sofia A. PérezPART IV VARIETIES OF CAPITALISM AT THE GLOBAL LEVEL19 The political economy of Chinese development 342Margaret M. Pearson, Meg Rithmire and Kellee S. Tsai20 Capitalism, democracy and development in newly advanced East Asia:South Korea, Taiwan and Singapore 361Nahee Kang, Bo-Jiun Jing and Jessica Loy21 Capitalism in Latin America: Varieties, models, and dependencies 376Isadora Araujo Cruxên and Ben Ross Schneider22 Firms and economic development in the semi-periphery 395Sonja Avlijaš and Kira Gartzou-Katsouyanni23 Global varieties of capitalism: The future or no future? 414Michael A. WittPART V SHIFTING BOUNDARIES AND NEW THEMES24 The relationship(s) between comparative and international politicaleconomy 435Mark Blyth25 Comparative political economy and social stratification research: Varietiesof social mobility? 452Gabriele Ballarino and Floriane Bolazzi26 Growth models and the politics of social reproduction 470Dorothee Bohle27 Culture and the study of comparative political economies 487Cathie Jo Martin28 Models of capitalism and types of democracy 503Carlo Trigilia29 Climate change as a new research field for comparative political economy 517Hanna Schwander30 The second digital revolution: superstar clusters and the polarizingreinvention of advanced capitalism 536David SoskiceEPILOGUEComparative political economy: past, present, future 555Wolfgang Streeck