Comparative Politics Commons^™

Varieties Of Politics, Varieties Of Capitalism: The Effects Of Political Institutions On Capitalist Diversity, Matthew P. Arsenault

Dissertations

A strong correlation exists between varieties of political regimes and varieties of capitalism (VOC). Majoritarian political regimes are correlated with liberal market economies (LMEs) and consensus political regimes are correlated with coordinated market economies (CMEs). Still, correlation is not causation. The purpose of this project is to open the “black box” and identify mechanisms linking political institutions and variation in capitalist systems. Empirical findings illustrate that partisanship and policy legacies, the number of political parties, electoral rules, and constitutional constraints are significant indicators of LMEs and CMEs. I find that majoritarian institutions are conducive to an environment of adversarial politics …