Globalization and Varieties of Capitalism: Lessons for Latin America. Jean Monnet/Robert Schuman Paper Series Vol. 8 No. 18, September 2008

Royo, Sebastián. (2008) Globalization and Varieties of Capitalism: Lessons for Latin America. Jean Monnet/Robert Schuman Paper Series Vol. 8 No. 18, September 2008.

Abstract

In the opinion of some scholars, globalisation is imposing exigencies of increasing competitiveness on national economies that have compelled countries to deregulate their labour markets, welfare systems, and industrial relations. According to this view, these impetuses for change are pressuring countries to move towards an Anglo-Saxon model of capitalism. This paper will challenge the interpretation according to which the responses of countries to these pressures are uniform. Countries have choices and there is not a single model of capitalism that allows countries to be successful in a global economy. This paper will draw from the Varieties of Capitalism literature to outline lessons for Latin American countries.