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Divergent Capitalisms: The Social Structuring and Change of Business Systems

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  • Whitley, Richard

    (University of Manchester)

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    Abstract

    The late twentieth century has witnessed the establishment of new forms of capitalism in East Asia as well as new market economies in Eastern Europe. Despite the growth of international investment and capital flows, these distinctive business systems remain different from each other and from those already developed in Europe and the Americas. This continued diversity of capitalism results from, and is reproduced by, significant differences in societal institutions and agencies such as the state, capital and labour markets, and dominant beliefs about trust, loyalty, and authority. This book presents the comparative business systems framework for describing and explaining the major differences in economic organization between market economies in the late twentieth century. This framework identifies the critical variations in coordination and control systems across forms of industrial capitalism, and shows how these are connected to major differences in their institutional contexts. Six major types of business system are identified and linked to different institutional arrangements. Significant differences in post-war East Asian business systems and the ways in which these are changing in the 1990s are analysed within this framework, which is also extended to compare the path-dependent nature of the new capitalisms emerging in Eastern Europe.

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    Bibliographic Info

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    This book is provided by Oxford University Press in its series OUP Catalogue with number 9780199240425 and published in 2000.

    ISBN: 9780199240425
    Order: http://ukcatalogue.oup.com/product/9780199240425.do
    Handle: RePEc:oxp:obooks:9780199240425

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    Web page: http://www.oup.com/

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    Cited by:
    1. Cooper, David J. & Robson, Keith, 2006. "Accounting, professions and regulation: Locating the sites of professionalization," Accounting, Organizations and Society, Elsevier, vol. 31(4-5), pages 415-444.
    2. Schmid, Stefan & Dauth, Tobias, 2014. "Does internationalization make a difference? Stock market reaction to announcements of international top executive appointments," Journal of World Business, Elsevier, vol. 49(1), pages 63-77.
    3. Konzelmann, S. & Fovargue-Davies, M., 2011. "Anglo-Saxon Capitalism in Crisis? Models of Liberal Capitalism and the Preconditions for Financial Stability," ESRC Centre for Business Research - Working Papers wp422, ESRC Centre for Business Research.
    4. Stan Metcalfe & Dimitri Gagliardi & Nicola De Liso & Ronnie Ramlogan, 2012. "Innovation Systems and Innovation Ecologies: Innovation Policy and Restless Capitalism," Openloc Working Papers 1203, Public policies and local development.
    5. Lloyd Steier, 2009. "Familial capitalism in global institutional contexts: Implications for corporate governance and entrepreneurship in East Asia," Asia Pacific Journal of Management, Springer, vol. 26(3), pages 513-535, September.

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