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Private Insurance, Public Welfare, and Financial Markets

Alpine and Maritime Countries in Comparative-Historical Perspective

Datos Bibliográficos

ID2317519
AutoresArjen Van Der Heide (0000-0001-6878-4057, Leiden University, autor de correspondencia), Sebastian Kohl (0000-0002-8358-6021, Free University Berlin)
Año2024
Volumen52
Número2
Páginas268-303
Fecha de publicación2024-06-01
Peer ReviewedSí
Open AccessSí
TipoARTICLE
RevistaLatin American Politics and Society (JOURNAL)
Identificadores de la revistaISSN: 1531-426X • E-ISSN: 1548-2456
EditorialSAGE Publications Inc (PUBLISHER)
DOI10.1177/00323292231161445
OpenAlexW4361304472
IdiomaEN
Citas recibidas7
Referencias citadas29

Contemporary capitalist societies use different institutions to manage economic risks. While different public welfare state and financial institutions (banks, capital markets) have been studied across coordinated and liberal market economies, the different worlds of private insurance institutions have been understudied. Building on new insurance data sets (1880-2017), we find that countries with a Maritime (USA, GBR, CAN) in contrast to the more backward Alpine (AUT, DEU, CHE) insurance tradition developed bigger life and nonlife insurance earlier, with less state-associated and reinsurance enterprises, but riskier investments steered toward financial markets. We argue that the larger and more 'Maritime' the insurance sector, the more it made welfare states liberal and securities markets large. Insurance is thus a hidden factor for countries' varieties of capitalism and worlds of welfare. The recent convergence on the Maritime model, however, implies that the riskier and risk-individualizing type of private insurance has added to privatization and securitization trends everywhere

Business · Capital market · Capitalism · Economics · Financial market · Financial system · General insurance · Insurance law · Insurance policy · Market economy · Political science · Reinsurance · State (computer science · Welfare · Welfare state · Finance · Insurance and Financial Risk Management

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Obras citantes distintas7
Citas por año3,5
Intervalo de citas2024 - 2026 (3)
Velocidad de citacióncurrent
Altamente citadoNo
Tipos de citaNeutras: 6
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