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Varieties of Capitalism, Growth Regimes, and Structural Change in Eurozone Core and Peripheral Countries: Germany as a Role Model for Portugal?

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  • Marta Vaz Silva
  • João Carlos Lopes

Abstract

This article aims at analyzing the structural changes that occurred in the Portuguese economy after the 2010/2013 sovereign debt crisis, compared with what occurred in Germany and using the current debate surrounding the new reform of the Eurozone as a backdrop. We thus intend to find out whether a peripheral southern economy like Portugal and the Eurozone’s core economy (Germany) have become closer and, if so, what that means in terms of the sustainability of the Eurozone as a set of different economies sharing the same currency. The study is framed in an institutional political economy approach (Varieties of Capitalism) and a macroeconomic post-Keynesian perspective (demand-led growth regimes), as well as a structural analysis of economic complexity and product specialization of these contrasting economies.

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  • Marta Vaz Silva & João Carlos Lopes, 2021. "Varieties of Capitalism, Growth Regimes, and Structural Change in Eurozone Core and Peripheral Countries: Germany as a Role Model for Portugal?," International Journal of Political Economy, Taylor & Francis Journals, vol. 50(4), pages 272-291, October.
    • Handle: RePEc:mes:ijpoec:v:50:y:2021:i:4:p:272-291
    DOI: 10.1080/08911916.2021.2001249
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