Corporatism and economic performance

The industrialized economies of the world have experienced a considerable diversity of economic experience since the economic shocks of the 1970s. Drawing upon the experience of the last two decades, Corporatism and Economic Performance assesses the institutional determinants of economic performance in a comparative analysis of OECD economies, and in particular the role played by corporatist arrangements in such countries as Austria and the Scandinavian states. Andrew Henley and Euclid Tsakalotos argue that economists often have too narrow a view of the scope and function of corporatism, focusing exclusively on the extent to which collective bargaining is centralized, and ignoring the important role of durable, consensual policy-making arrangements. The authors assess the record of the corporatist economies and find considerable evidence that they have born the burden of economic adjustment since the early 1970s in a less inegalitarian way than other OECD economies, with lower rates of unemployment and greater economic stability. In an increasingly integrated world economy, the future prospects for corporatism look uncertain although the economic case for corporatist institutions remains. This book focuses on corporatism as a complex and multidimensional entity, examining the rationale, scope, performance and future prospects of corporatist institutions.