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Still Two Models of Capitalism? Economic Adjustment in Spain. CES Working Paper, no. 122, 2005

Royo, Sebastian. (2005) Still Two Models of Capitalism? Economic Adjustment in Spain. CES Working Paper, no. 122, 2005. [Working Paper]

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    Abstract

    The proponents of globalization contend that European countries are now converging on an Anglo-American model of capitalism. Contrary to this prediction, this paper will show that in Spain globalization and EMU have promoted rather than undermined coordination among economic actors. Unable to escape from economic interdependence the Spanish economic actors have developed coordinating capacities at the macro and micro levels to address and resolve tensions between economic interdependence and political sovereignty. In this paper I show that there is at least one more variety than the two–LME and CME–that Hall and Soskice cite and also that it is possible to develop coordination capacities in countries that lack a strong tradition of such capacities. In particular, this paper analyzes the resurgence of national-level social bargaining in Spain in the 1990s. This development was the result of the reorientation of the strategies of the social actors. In a new economic and political context, marked by a process of institutional learning, trade unions have supported social bargaining as a defensive strategy to retake the initiative and influence policy outcomes.

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    Item Type: Working Paper
    Subjects for non-EU documents: Countries > Spain
    EU policies and themes > Policies & related activities > social policy > general
    EU policies and themes > External relations > globalisation/globalization
    EU policies and themes > Policies & related activities > economic and financial affairs > general
    EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Harvard University, Center for European Studies > CES Working Papers Series
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 18 Aug 2009
    Page Range: p. 34
    Last Modified: 15 Feb 2011 17:58
    URI: http://aei.pitt.edu/id/eprint/9035

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