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The Comparative Political Economy of Growth Models: Explaining the Continuity of FDI-Led Growth in Ireland and Hungary

Author

Listed:
  • Dorothee Bohle

    (European University Institute, Florence)

  • Aidan Regan

    (University College Dublin, Ireland)

Abstract

This article argues that the quiet politics of informal business-state interaction explains the political determinants of growth regimes. Building on the business power literature within the study of comparative capitalism, it shows that the noisy politics of elections often leads to changes of government but rarely to fundamental changes in the growth regime. Rather, growth models can be traced to the interactions and interests of dominant corporations within a country and its policymaking elites. The argument is developed through a comparative case study research design, using the case of foreign direct investment–led (FDI-led) growth in Ireland and Hungary. FDI-led growth regimes are a universe of cases that rely on state-led industrial and enterprise policies targeting the capital investment of foreign-owned multinational firms. Despite periods of noisy electoral politics challenging basic tenets of the FDI-led growth model in both Hungary and Ireland, the continuity of FDI-oriented growth is traced to the corporate politics of business-state elite deals.

Suggested Citation

  • Dorothee Bohle & Aidan Regan, 2021. "The Comparative Political Economy of Growth Models: Explaining the Continuity of FDI-Led Growth in Ireland and Hungary," Politics & Society, , vol. 49(1), pages 75-106, March.
    • Handle: RePEc:sae:polsoc:v:49:y:2021:i:1:p:75-106
    DOI: 10.1177/0032329220985723
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    Citations

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    Cited by:

    1. Woodgate, Ryan, 2021. "Multinational corporations and commercialised states: Can state aid serve as the basis for an FDI-driven growth strategy?," IPE Working Papers 161/2021, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    2. Sallai, Dorottya & Schnyder, Gerhard & Kinderman, Daniel & Nölke, Andreas, 2023. "The antecedents of MNC political risk and uncertainty under right-wing populist governments," LSE Research Online Documents on Economics 118668, London School of Economics and Political Science, LSE Library.
    3. Aneta Bobenič Hintošová & Glória Bódy, 2023. "Sustainable FDI in the Digital Economy," Sustainability, MDPI, vol. 15(14), pages 1-15, July.
    4. Kühnast, Julia, 2022. "Growth regimes of populist governments: A comparative study on Hungary and Poland," IPE Working Papers 199/2022, Berlin School of Economics and Law, Institute for International Political Economy (IPE).

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