Richard Deeg
Datos Biográficos
| ID | 326834 |
|---|---|
| NOMBRE | Richard Deeg |
| NOMBRES | Richard |
| APELLIDO | Deeg |
| FIRMA | DEEG R |
| AFILIACIONES | Temple University |
| ORCID | 0000-0003-0130-4308 |
| VERIFICADO | Sí |
| TOTAL DE OBRAS | 28 |
| TOTAL DE CITAS | 347 |
| TOTAL COMO AUTOR | 27 |
| TOTAL COMO EDITOR | 1 |
| PRIMER AÑO DE PUBLICACIÓN | 1989 |
| AÑO MÁS RECIENTE DE PUBLICACIÓN | 2020 |
| ÍNDICE H | 10 |
Strong Firms, Weak Banks
The financial foundation of Germany's manufacturing success, according to the comparative capitalism literature, is an ample supply of long-term capital, provided to firms by a three-pillar banking system and 'patient' domestic shareholders. This premise also informs the recent literature on growth models, which documents a shift towards a purely export-led growth model in Germany since the 1990s. We challenge this common assumption of continuity…
Banking union and the future of alternative banks
Banking union challenges the institutional mechanisms that alternative banks use to retain their status, goals, identity and carry out their operations. Yet the impact of banking union on them varies considerably and systematically: those alternative banks that held most closely to the traditional model fared best in the recent financial crises and have been impacted the least by banking union. In contrast, those banks that strayed from the tradi…
What is patient capital, and where does it exist
This Special Issue was first motivated by what its co-editors see as a significant lacuna in comparative political economy (CPE): the absence of a modern comparative model of financial markets. CPE, to us, has remained largely stuck with a long-standing dichotomy between bank-based and financial-market-based systems, with the implications for varieties of capitalism with which readers of Socio-Economic Review are very familiar. The result, howeve…
What is patient capital and who supplies it
In comparative political economy (CPE), ‘patient capital’ (‘PC’)-primarily from relational banks-is central to distinguishing national economies. The rise of ‘market-based banking’ highlights the growing inability of commercial banks to be patient. This raises the question of whether alternative forms of PC exist, but CPE lacks a framework to consider PC provision by financial markets. We develop our concept of PC and a framework for determining …
The Oxford Handbook of Employment Relations
There have been numerous accounts exploring the relationship between institutions and firm practices. However, much of this literature tends to be located into distinct theoretical-traditional 'silos', such as national business systems, social systems of production, regulation theory, or varieties of capitalism, with limited dialogue between different approaches to enhance understanding of institutional effects. Again, evaluations of the relation…
Oxford Handbook of Employment Relations
The long-term trajectories of institutional change in European capitalism
The article provides a theoretical overview and empirical summary of the contributions to this collection. The collection makes four contributions to the literature on comparative capitalism. First, its analysis of institutional change adopts a long-term historical perspective that allows us to observe the potentially transformative effects of relatively slow and incremental changes. Second, it examines the linkages between four levels of institu…
The limits of Liberalization? American capitalism at the crossroads
From the 1930s to 1970s the United States (US) model of capitalism was based on a Keynesian growth model. Collective bargaining and pro-labour policies were widely accepted. Product market regulation was fairly extensive. Industrial policy in the US was less overt than in other advanced economies, but quite extensive in certain sectors. By the late 1990s the US model had clearly coalesced around a new set of institutions based on a different set …
Industry and Finance in Germany since Unification
Since German unification there have been dramatic and highly visible changes in the German financial system and relations between banks and firms in Germany. The traditional Hausbank system has weakened, as securities markets have become more important for both borrowers and savers. The demands of financial investors on how German firms manage themselves have-for better or worse-become increasingly influential in this time. In this article, I adv…
The rise of internal capitalist diversity? Changing patterns of finance and corporate governance in Europe
The article examines internal diversity within national models of capitalism in Europe, with a particular concern with firm financing and corporate governance patterns. It is suggested that a relatively small number of firms have shifted to a new institutional context consisting of common international institutions and practices, while the large majority of firms continue to operate in a more slowly evolving set of domestic institutions or rules.…
The Political Economy of Global Finance Capital
The globalization of finance in recent years and the concurrent growth in the financial sector's influence, manifested most dramatically in the recent financial crisis, highlights the importance for political scientists of understanding the political economy of global finance. The authors review six important books that are representative of recent thinking by political scientists on the topic. They address the central questions that have been at…
Comparing capitalisms
From comparing capitalisms to the politics of institutional change
The notion of distinct national varieties or systems of capitalism gained considerable currency in the last two decades. This review essay highlights three theoretical premises which define what we call the comparative capitalisms (CC) approach to political economy: First, national economies are characterized by distinct institutional configurations; second, these configurations are a source of comparative institutional advantage; and third, the …
Complementarity and institutional change in capitalist systems
The concept of institutional complementarity – that the co-existence of two or more institutions enhances the functioning of each – is frequently used to explain why institutions are resistant to change and why introducing new institutions into a system often fails to achieve the intended objective. This paper utilizes examples from comparative political economy to delineate the concept and address the issue of how to measure the strength of comp…
Towards a more dynamic theory of capitalist variety
In this paper we analyse the comparative capitalisms literature, which encompasses several analytical frameworks, but shares common concerns in understanding the institutional foundations of diverse national ‘varieties’ of capitalism. One widespread weakness within this literature has been its static analysis and bias toward predicting institutional stability rather than change. Our contention is that introducing more dynamism into this literatur…
Towards a More Dynamic Theory of Capitalist Variety
Path Dependency, Institutional Complementarity, and Change in National Business Systems
The concept of path dependency is widely invoked in the social sciences to explain institutional continuity and-to a lesser extent institutional change. This is no less true of the various literatures which characterize and theorize about national business systems or models of capitalism. Yet, outside its formal application in economics to specific firms or technologies (e.g. Arthur 1994), the theory of path dependence is surprisingly underdevelo…
Revue des revues
Distribution lectronique Cairn.info pour Presses de Sciences Po. Distribution lectronique Cairn.info pour Presses de Sciences Po. La reproduction ou reprsentation de cet article, notamment par photocopie, n'est autorise que dans les limites des conditions gnrales d'utilisation du site ou, le cas chant, des conditions gnrales de la licence souscrite par votre tablissement. Toute autre reproduction ou reprsentation, en tout ou partie, sous quelque …
Remaking Italian Capitalism? The Politics of Corporate Governance Reform
This article addresses the issue of how to explain institutional change in national political economies. Within an actor-centered institutionalist theoretical framework, it explores the utility of a coalitional explanation for changes in the financial and corporate governance systems of Italy. Finance and corporate governance are useful foci for understanding change and the evolutionary direction of national political economies as a whole because…
The comeback ofModell Deutschland? The New German Political Economy in the EU
Since the early 1990s four institutional weaknesses have taken turns as the popular ‘whipping boy’ for Germany's economic ills: a backward-oriented, bank-dominated financial system; an insider-dominated corporate governance system; rigid labor markets and inflexible unions; and an overly expensive welfare system. This paper surveys a wide range of the reforms that have been undertaken to redress these weaknesses. While there is still a clear need…
Institutional Change and the Uses and Limits of Path Dependence
International Capital Mobility and Domestic Institutions
This article considers the impact of international capital mobility on thecharacter of corporate finance and corporate governance in four European countries (Germany, France, Spain, and Italy). We take issue with the widespread view that the growth of international financial markets and the lifting of capital controls will in themselves produce convergence in national systems of corporate finance and governance. Although we find evidence of conve…
Internationalization and Financial Federalism
In this article, the authors examine some effects of economic internationalization on state structures, especially in regard to the distribution of power and authority within federalist systems. Using an institutional rational choice model, they analyze changes in financial regulation and market structures in Germany and the United States. The focus is on the financial realm because of its high degree of internationalization and because, in both …
Finance Capitalism Unveiled
If we are moving toward one global financial market, will all national financial systems that determine how businesses raise money look the same? Richard Deeg argues that, despite financial market integration and considerable harmonization in the regulation of financial markets, the traditional structure and economic functions of national financial systems are not inevitably undermined. Using the case of Germany--a country with a strong and disti…
Economic Globalization and the Shifting Boundaries of German Federalism
As in many other nations, economic globalization undermined the economic policymaking autonomy of the German federal government. At the same time, it prompted decentralization of other kinds of economic policymaking authority within the federal system. Thus, the Länder have assumed increased responsibility for regional economic adjustment through the expansion of regional economic policy networks. The economic impacts of globalization and the dec…
Towards a more dynamic theory of capitalist variety
In this paper we analyse the comparative capitalisms literature, which encompasses several analytical frameworks, but shares common concerns in understanding the institutional foundations of diverse national ‘varieties’ of capitalism. One widespread weakness within this literature has been its static analysis and bias toward predicting institutional stability rather than change. Our contention is that introducing more dynamism into this literatur…
Complementarity and institutional change in capitalist systems
The concept of institutional complementarity – that the co-existence of two or more institutions enhances the functioning of each – is frequently used to explain why institutions are resistant to change and why introducing new institutions into a system often fails to achieve the intended objective. This paper utilizes examples from comparative political economy to delineate the concept and address the issue of how to measure the strength of comp…
From comparing capitalisms to the politics of institutional change
The notion of distinct national varieties or systems of capitalism gained considerable currency in the last two decades. This review essay highlights three theoretical premises which define what we call the comparative capitalisms (CC) approach to political economy: First, national economies are characterized by distinct institutional configurations; second, these configurations are a source of comparative institutional advantage; and third, the …
What is patient capital and who supplies it
In comparative political economy (CPE), ‘patient capital’ (‘PC’)-primarily from relational banks-is central to distinguishing national economies. The rise of ‘market-based banking’ highlights the growing inability of commercial banks to be patient. This raises the question of whether alternative forms of PC exist, but CPE lacks a framework to consider PC provision by financial markets. We develop our concept of PC and a framework for determining …
The long-term trajectories of institutional change in European capitalism
The article provides a theoretical overview and empirical summary of the contributions to this collection. The collection makes four contributions to the literature on comparative capitalism. First, its analysis of institutional change adopts a long-term historical perspective that allows us to observe the potentially transformative effects of relatively slow and incremental changes. Second, it examines the linkages between four levels of institu…
Regional prosperities compared
This article compares the relationship between economic development and public policy in two of the most prosperous regions of the 1980s: Massachusetts in the United States and Baden-Württemberg in West Germany. Beginning with a critique of the theory of the product life-cycle, the article examines the rise and fall of traditional industries in Massachusetts and their survival in Baden-Württemberg. It then goes on to consider the rise–but also th…
Strong Firms, Weak Banks
The financial foundation of Germany's manufacturing success, according to the comparative capitalism literature, is an ample supply of long-term capital, provided to firms by a three-pillar banking system and 'patient' domestic shareholders. This premise also informs the recent literature on growth models, which documents a shift towards a purely export-led growth model in Germany since the 1990s. We challenge this common assumption of continuity…
The rise of internal capitalist diversity? Changing patterns of finance and corporate governance in Europe
The article examines internal diversity within national models of capitalism in Europe, with a particular concern with firm financing and corporate governance patterns. It is suggested that a relatively small number of firms have shifted to a new institutional context consisting of common international institutions and practices, while the large majority of firms continue to operate in a more slowly evolving set of domestic institutions or rules.…
International Capital Mobility and Domestic Institutions
This article considers the impact of international capital mobility on thecharacter of corporate finance and corporate governance in four European countries (Germany, France, Spain, and Italy). We take issue with the widespread view that the growth of international financial markets and the lifting of capital controls will in themselves produce convergence in national systems of corporate finance and governance. Although we find evidence of conve…
Internationalization and Financial Federalism
In this article, the authors examine some effects of economic internationalization on state structures, especially in regard to the distribution of power and authority within federalist systems. Using an institutional rational choice model, they analyze changes in financial regulation and market structures in Germany and the United States. The focus is on the financial realm because of its high degree of internationalization and because, in both …
What is patient capital, and where does it exist
This Special Issue was first motivated by what its co-editors see as a significant lacuna in comparative political economy (CPE): the absence of a modern comparative model of financial markets. CPE, to us, has remained largely stuck with a long-standing dichotomy between bank-based and financial-market-based systems, with the implications for varieties of capitalism with which readers of Socio-Economic Review are very familiar. The result, howeve…
The state, banks, and economic governance in Germany
In this article the author challenges the organised capitalism model of the German economy which suggests that the large commercial banks use their substantial influence over the industry to monitor corporate management and selectively intervene in order to steer firm and sectoral developments. An examination of the sources of bank influence reveals relatively declining bank power, primarily as a result of intensifying competition among banks. Th…
The comeback ofModell Deutschland? The New German Political Economy in the EU
Since the early 1990s four institutional weaknesses have taken turns as the popular ‘whipping boy’ for Germany's economic ills: a backward-oriented, bank-dominated financial system; an insider-dominated corporate governance system; rigid labor markets and inflexible unions; and an overly expensive welfare system. This paper surveys a wide range of the reforms that have been undertaken to redress these weaknesses. While there is still a clear need…
Industry and Finance in Germany since Unification
Since German unification there have been dramatic and highly visible changes in the German financial system and relations between banks and firms in Germany. The traditional Hausbank system has weakened, as securities markets have become more important for both borrowers and savers. The demands of financial investors on how German firms manage themselves have-for better or worse-become increasingly influential in this time. In this article, I adv…
Remaking Italian Capitalism? The Politics of Corporate Governance Reform
This article addresses the issue of how to explain institutional change in national political economies. Within an actor-centered institutionalist theoretical framework, it explores the utility of a coalitional explanation for changes in the financial and corporate governance systems of Italy. Finance and corporate governance are useful foci for understanding change and the evolutionary direction of national political economies as a whole because…
Banking union and the future of alternative banks
Banking union challenges the institutional mechanisms that alternative banks use to retain their status, goals, identity and carry out their operations. Yet the impact of banking union on them varies considerably and systematically: those alternative banks that held most closely to the traditional model fared best in the recent financial crises and have been impacted the least by banking union. In contrast, those banks that strayed from the tradi…
The limits of Liberalization? American capitalism at the crossroads
From the 1930s to 1970s the United States (US) model of capitalism was based on a Keynesian growth model. Collective bargaining and pro-labour policies were widely accepted. Product market regulation was fairly extensive. Industrial policy in the US was less overt than in other advanced economies, but quite extensive in certain sectors. By the late 1990s the US model had clearly coalesced around a new set of institutions based on a different set …
The Political Economy of Global Finance Capital
The globalization of finance in recent years and the concurrent growth in the financial sector's influence, manifested most dramatically in the recent financial crisis, highlights the importance for political scientists of understanding the political economy of global finance. The authors review six important books that are representative of recent thinking by political scientists on the topic. They address the central questions that have been at…
Economic Globalization and the Shifting Boundaries of German Federalism
As in many other nations, economic globalization undermined the economic policymaking autonomy of the German federal government. At the same time, it prompted decentralization of other kinds of economic policymaking authority within the federal system. Thus, the Länder have assumed increased responsibility for regional economic adjustment through the expansion of regional economic policy networks. The economic impacts of globalization and the dec…
Institutional transfer, social learning and economic policy in Eastern Germany
This article applies a model of social learning to examine the pattern of economic policy change in eastern Germany since reunification. It argues that the virtually complete transfer from West to East of the institutions and policies for regional economic development locked eastern states into a process of largely incremental policy change. This is so despite the large ‘performance gap’ between economic policies pursued and progress in revitalis…
Regional prosperities compared
This article compares the relationship between economic development and public policy in two of the most prosperous regions of the 1980s: Massachusetts in the United States and Baden-Württemberg in West Germany. Beginning with a critique of the theory of the product life-cycle, the article examines the rise and fall of traditional industries in Massachusetts and their survival in Baden-Württemberg. It then goes on to consider the rise–but also th…
The state, banks, and economic governance in Germany
In this article the author challenges the organised capitalism model of the German economy which suggests that the large commercial banks use their substantial influence over the industry to monitor corporate management and selectively intervene in order to steer firm and sectoral developments. An examination of the sources of bank influence reveals relatively declining bank power, primarily as a result of intensifying competition among banks. Th…
Institutional transfer, social learning and economic policy in Eastern Germany
This article applies a model of social learning to examine the pattern of economic policy change in eastern Germany since reunification. It argues that the virtually complete transfer from West to East of the institutions and policies for regional economic development locked eastern states into a process of largely incremental policy change. This is so despite the large ‘performance gap’ between economic policies pursued and progress in revitalis…
Economic Globalization and the Shifting Boundaries of German Federalism
As in many other nations, economic globalization undermined the economic policymaking autonomy of the German federal government. At the same time, it prompted decentralization of other kinds of economic policymaking authority within the federal system. Thus, the Länder have assumed increased responsibility for regional economic adjustment through the expansion of regional economic policy networks. The economic impacts of globalization and the dec…
Finance Capitalism Unveiled
If we are moving toward one global financial market, will all national financial systems that determine how businesses raise money look the same? Richard Deeg argues that, despite financial market integration and considerable harmonization in the regulation of financial markets, the traditional structure and economic functions of national financial systems are not inevitably undermined. Using the case of Germany--a country with a strong and disti…
International Capital Mobility and Domestic Institutions
This article considers the impact of international capital mobility on thecharacter of corporate finance and corporate governance in four European countries (Germany, France, Spain, and Italy). We take issue with the widespread view that the growth of international financial markets and the lifting of capital controls will in themselves produce convergence in national systems of corporate finance and governance. Although we find evidence of conve…
Internationalization and Financial Federalism
In this article, the authors examine some effects of economic internationalization on state structures, especially in regard to the distribution of power and authority within federalist systems. Using an institutional rational choice model, they analyze changes in financial regulation and market structures in Germany and the United States. The focus is on the financial realm because of its high degree of internationalization and because, in both …
Institutional Change and the Uses and Limits of Path Dependence
Path Dependency, Institutional Complementarity, and Change in National Business Systems
The concept of path dependency is widely invoked in the social sciences to explain institutional continuity and-to a lesser extent institutional change. This is no less true of the various literatures which characterize and theorize about national business systems or models of capitalism. Yet, outside its formal application in economics to specific firms or technologies (e.g. Arthur 1994), the theory of path dependence is surprisingly underdevelo…
Revue des revues
Distribution lectronique Cairn.info pour Presses de Sciences Po. Distribution lectronique Cairn.info pour Presses de Sciences Po. La reproduction ou reprsentation de cet article, notamment par photocopie, n'est autorise que dans les limites des conditions gnrales d'utilisation du site ou, le cas chant, des conditions gnrales de la licence souscrite par votre tablissement. Toute autre reproduction ou reprsentation, en tout ou partie, sous quelque …
Remaking Italian Capitalism? The Politics of Corporate Governance Reform
This article addresses the issue of how to explain institutional change in national political economies. Within an actor-centered institutionalist theoretical framework, it explores the utility of a coalitional explanation for changes in the financial and corporate governance systems of Italy. Finance and corporate governance are useful foci for understanding change and the evolutionary direction of national political economies as a whole because…
The comeback ofModell Deutschland? The New German Political Economy in the EU
Since the early 1990s four institutional weaknesses have taken turns as the popular ‘whipping boy’ for Germany's economic ills: a backward-oriented, bank-dominated financial system; an insider-dominated corporate governance system; rigid labor markets and inflexible unions; and an overly expensive welfare system. This paper surveys a wide range of the reforms that have been undertaken to redress these weaknesses. While there is still a clear need…
Towards a More Dynamic Theory of Capitalist Variety
Complementarity and institutional change in capitalist systems
The concept of institutional complementarity – that the co-existence of two or more institutions enhances the functioning of each – is frequently used to explain why institutions are resistant to change and why introducing new institutions into a system often fails to achieve the intended objective. This paper utilizes examples from comparative political economy to delineate the concept and address the issue of how to measure the strength of comp…
Towards a more dynamic theory of capitalist variety
In this paper we analyse the comparative capitalisms literature, which encompasses several analytical frameworks, but shares common concerns in understanding the institutional foundations of diverse national ‘varieties’ of capitalism. One widespread weakness within this literature has been its static analysis and bias toward predicting institutional stability rather than change. Our contention is that introducing more dynamism into this literatur…
Comparing capitalisms
From comparing capitalisms to the politics of institutional change
The notion of distinct national varieties or systems of capitalism gained considerable currency in the last two decades. This review essay highlights three theoretical premises which define what we call the comparative capitalisms (CC) approach to political economy: First, national economies are characterized by distinct institutional configurations; second, these configurations are a source of comparative institutional advantage; and third, the …
The rise of internal capitalist diversity? Changing patterns of finance and corporate governance in Europe
The article examines internal diversity within national models of capitalism in Europe, with a particular concern with firm financing and corporate governance patterns. It is suggested that a relatively small number of firms have shifted to a new institutional context consisting of common international institutions and practices, while the large majority of firms continue to operate in a more slowly evolving set of domestic institutions or rules.…
The Political Economy of Global Finance Capital
The globalization of finance in recent years and the concurrent growth in the financial sector's influence, manifested most dramatically in the recent financial crisis, highlights the importance for political scientists of understanding the political economy of global finance. The authors review six important books that are representative of recent thinking by political scientists on the topic. They address the central questions that have been at…
Industry and Finance in Germany since Unification
Since German unification there have been dramatic and highly visible changes in the German financial system and relations between banks and firms in Germany. The traditional Hausbank system has weakened, as securities markets have become more important for both borrowers and savers. The demands of financial investors on how German firms manage themselves have-for better or worse-become increasingly influential in this time. In this article, I adv…
The long-term trajectories of institutional change in European capitalism
The article provides a theoretical overview and empirical summary of the contributions to this collection. The collection makes four contributions to the literature on comparative capitalism. First, its analysis of institutional change adopts a long-term historical perspective that allows us to observe the potentially transformative effects of relatively slow and incremental changes. Second, it examines the linkages between four levels of institu…
The limits of Liberalization? American capitalism at the crossroads
From the 1930s to 1970s the United States (US) model of capitalism was based on a Keynesian growth model. Collective bargaining and pro-labour policies were widely accepted. Product market regulation was fairly extensive. Industrial policy in the US was less overt than in other advanced economies, but quite extensive in certain sectors. By the late 1990s the US model had clearly coalesced around a new set of institutions based on a different set …
The Oxford Handbook of Employment Relations
There have been numerous accounts exploring the relationship between institutions and firm practices. However, much of this literature tends to be located into distinct theoretical-traditional 'silos', such as national business systems, social systems of production, regulation theory, or varieties of capitalism, with limited dialogue between different approaches to enhance understanding of institutional effects. Again, evaluations of the relation…
Oxford Handbook of Employment Relations
Banking union and the future of alternative banks
Banking union challenges the institutional mechanisms that alternative banks use to retain their status, goals, identity and carry out their operations. Yet the impact of banking union on them varies considerably and systematically: those alternative banks that held most closely to the traditional model fared best in the recent financial crises and have been impacted the least by banking union. In contrast, those banks that strayed from the tradi…
Economics (25 obras) · Political science (20 obras) · Politics (15 obras) · Economic system (13 obras) · Social Policy and Reform Studies (13 obras) · Finance (11 obras) · Capitalism (10 obras) · Housing, Finance, and Neoliberalism (10 obras) · Market economy (10 obras) · Business (9 obras)