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Socio-Economic Review Advance Access originally published online on October 8, 2008
Socio-Economic Review 2009 7(1):123-143; doi:10.1093/ser/mwn018
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© The Author 2008. Published by Oxford University Press and the Society for the Advancement of Socio-Economics. All rights reserved. For Permissions, please email: journals.permissions@oxfordjournals.org

This article appears in the following Socio-Economic Review issue: SPECIAL ISSUE: Changing institutions in developed democracies: economics, politics and welfare [View the issue table of contents]

A neorealist approach to institutional change and the diversity of capitalism

Bruno Amable1 and Stefano Palombarini2

1 University of Paris I Panthéon-Sorbonne and CEPREMAP, Paris, France
2 University of Paris 8, Paris, France

Correspondence: bruno.amable{at}ens.fr

This article proposes a theoretical approach to the political economy of institutional change and comparative capitalism. It argues that the firm-based approach of the Varieties of Capitalism literature cannot satisfactorily integrate the political aspects of institutional change and must in one way or another rely on some type of economic functionalism. By linking explicitly political strategies and demands for institutional change, a neorealist approach can exploit the concepts of complementarity and hierarchy of institutions. Different types of institutional change may take place in situations of political equilibrium, political crisis or systemic crisis.

Key Words: Capitalism • varieties of • institutional change • institutional complementarity • institutional political economy • political economy


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