Institutional Coherence and Macroeconomic Performance

In: Socio-economic review, Band 4, Heft 1, S. 69-91

Abstract

Peter Hall & David Soskice suggest that institutional coherence is conducive to successful macroeconomic outcomes. Countries with corporate governance arrangements, industrial relations systems & other institutions that are congruent either with those of a coordinated market economy or with those of a liberal market economy are expected to perform better, while nations with less coherent institutional frameworks are expected to fare worse. I use a measure of institutional coherence devised by Peter Hall & Daniel Gingerich & another I develop here to assess the impact of institutional coherence on variation in economic growth & employment growth across 18 affluent countries over the period 1974-2000. The results offer little support for the institutional coherence hypothesis. Tables, Figures, Appendixes, References. Adapted from the source document.