Structural reforms in Europe and the (in)coherence of institutions
AbstractThe aim of this article is to analyse the consequences of some structural reforms on the institutional coherence of OECD countries, particularly Continental Europe, and on their economic performance, particularly employment. Because institutions in developed political economies are interrelated through a complex network of complementarities, institutional change has consequences beyond the area concerned by a reform. This also implies that there are complementarity effects in reforms themselves. A challenge of reform programs is therefore to achieve a new type of complementarities between reformed institutions. The paper presents empirical evidence questioning the compatibility of the ongoing structural reforms in product and labour markets with the existing institutional structures in some OECD countries. The coherence of the flexicurity strategy, i.e. a combination of labour market flexibility and generous welfare state, is also questioned, both from economic efficiency and political economy points of view.
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Date of creation: Jul 2008
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Structural reforms; models of capitalism; flexicurity;
Other versions of this item:
- Bruno Amable, 2009. "Structural reforms in Europe and the (in)coherence of institutions," Oxford Review of Economic Policy, Oxford University Press, vol. 25(1), pages 17-39, Spring.
- Amable, Bruno, 2008. "Structural reforms in Europe and the (in)coherence of institutions," CEPREMAP Working Papers (Docweb) 0809, CEPREMAP.
- Bruno Amable, 2008. "Structural reforms in Europe and the (in)coherence of institutions," Documents de travail du Centre d'Economie de la Sorbonne r08063, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
- B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary
- J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-12-01 (All new papers)
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