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Internationalisation and Economic Institutions: - Comparing the European Experience (Hardcover, New)
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Internationalisation and Economic Institutions: - Comparing the European Experience (Hardcover, New)
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This book examines when, how and why internationalization affects
national economic institutions. It confronts questions at the heart
of debates in political economy and comparative politics: What does
internationalization of markets mean? Who are its carriers in
domestic arenas? Through which mechanisms does it affect decisions
about national institutional reform? What are institutional
outcomes in the face of internationalization?
The book responds to its questions by looking at key economic
institutions in five strategic sectors: securities trading,
telecommunications, electricity, airlines, and postal services. It
compares across four countries that represent different 'varieties
of capitalism', namely Britain, France, Germany and Italy, over the
period between 1965 and 2005. Thus it combines cross-national,
historical and cross-sectoral comparisons.
The author distinguishes technological and economic forms of
internationalization from policy forms, notably decisions in
powerful overseas nations and supranational regulation. He argues
that, contrary to expectations, the first was met with
institutional inertia. In contrast, policy forms of
internationalization, namely reforms in the US and European Union
regulation, played significant roles in undermining long-standing
national institutions. The book explores the mechanisms whereby
policy forms of internationalization were influential by looking at
the strategies, coalitions and resources of key actors in national
arenas. It also shows that institutional outcomes were surprising:
all four countries, albeit through different routes, adopted
increasingly similar reforms of economic
institutions--privatization, the ending ofmonopolies and delegation
to independent regulatory agencies.
The book rejects the view that technological and economic forms of
internationalization drive institutional change. It suggests that
policy forms of internationalization are more important because
they become part of domestic decision making and aid the reform of
well-established national institutions.
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