Jingle bells and struggling Gips
Comparing the Baltic and the southern euro zone’s crisis experience using the varieties of capitalism framework
Bibliographic Data
| ID | 23214768 |
|---|---|
| Authors | Vytautas Kuokštis (0000-0001-9455-9953, Vilnius University, corresponding author) |
| Year | 2015 |
| Volume | 65 |
| Issue | s1 |
| Pages | 39-64 |
| Publication date | 2015-12-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Acta Oeconomica (JOURNAL) |
| Journal identifiers | ISSN: 0001-6373 • E-ISSN: 1588-2659 |
| Publisher | Akademiai Kiado Zrt. (PUBLISHER • HU) |
| DOI | 10.1556/032.65.2015.s1.4 |
| OpenAlex | W2277906815 |
| Language | EN |
| Citations received | 7 |
| References cited | 24 |
This article compares the experience of the Baltic countries and the eurozone’s southern members, the GIPS (Greece, Italy, Portugal, Spain), in terms of the run-up to the Great Recession and the eurozone crisis, responses during the downturn, and the subsequent recovery (or lack thereof). It discusses numerous apparent similarities in terms of the build-up of macroeconomic vulnerabilities and the content of anti-crisis strategies pursued as well as the substantially different results of these policies. This article applies the VoC (Varieties of Capitalism) approach. To this end, it presents theoretical expectations regarding different varieties’ vulnerability to macroeconomic imbalances, preferences regarding anti-crisis policy as well as the likely outcome of the internal devaluation strategy. The article finds the VoC approach largely useful, although it is more helpful in accounting for the nature of reaction to the crisis and the outcomes of anti-crisis policy, while less so in explaining the initial accumulation of vulnerabilities.
Capitalism · Devaluation · Economic policy · Economics · European debt crisis · European integration · European union · Exchange rate · Financial crisis · Great recession · Keynesian economics · Macroeconomics · Monetary economics · Political science · Politics · Recession · Vulnerability (computing) · European Socioeconomic and Political Studies · Global Financial Crisis and Policies · Social Policy and Reform Studies
Lietuvos Narystė Europos Sąjungoje
Economic causes of the Eurozone crisis
Labor market flexibility and exchange rate regimes
Varieties of Capitalism, Growth Regimes, and Structural Change in Eurozone Core and Peripheral Countries
Economic Adaptability in the Absence of Democratic Corporatism
Finanzialisierung und die Entstehung der Eurokrise
Varieties of capitalism in light of the euro crisis
Small States in World Markets
Adjustments in the Eurozone
Beyond Varieties of Capitalism
Varieties of Capitalism
The missing link. Labour unions, central banks and monetary integration in Europe 1
The Political Economy of Adjustment in Mixed Market Economies
Capitalist Diversity on Europe's Periphery
Macroeconomics and Varieties of Capitalism
Cross of Euros
The Political Economy of Social Pacts in the EMU
The Baltic Republics and the Crisis of 2008–2011
Baltic States in World Markets
On Baltic Slovenia and Adriatic Lithuania
The Economics and Politics of the Euro Crisis
Comparative Institutional Advantage in the European Sovereign Debt Crisis
Putting the Political Back into Political Economy by Bringing the State Back in Yet Again
Why Did Estonia Choose Fiscal Retrenchment after the 2008 Crisis
Emerging Varieties of Capitalism in Transition Countries
Varieties of Capitalism and Institutional Complementarities in the Political Economy
Varieties of capitalism and the Estonian economy
Great Transformation
German economic performance
Varieties of Capitalism and Capitalism « tout court
| Unique citing works | 7 |
|---|---|
| Citations per year | 0,64 |
| Citation span | 2015 - 2022 (8) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 6 |