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  3. Global Capital, Political Institutions, and Policy Change in Developed Welfare States
  • Cited by 523
Publisher:
Cambridge University Press
Online publication date:
January 2010
Print publication year:
2002
Online ISBN:
9780511613371
DOI:
https://doi.org/10.1017/CBO9780511613371
Series:
Cambridge Studies in Comparative Politics
Subjects:
Political Economy, Politics and International Relations, Comparative Politics
Information

Book description

This book argues that the post-1970 rise in international capital mobility has not contributed to the retrenchment of developed welfare states. Nor has globalization reduced the revenue-raising capacities of governments and undercut the political institutions that support the welfare state. Rather, institutional features of the polity and the welfare state determine the extent to which the economic and political pressures associated with globalization produce welfare state retrenchment. In systems characterized by electoral institutions, social corporatist interest representation and policy-making, centralized political authority, and social insurance-based program structures, pro-welfare state interests are favored. In nations characterized by majoritarian electoral institutions, pluralist interest representation and policy-making, decentralization of policy-making authority, and liberal program structure, the economic and political pressures attendant on globalization are translated into rollbacks of social protection. Globalization has had least impact on large welfare states of Northern Europe and most effect on small welfare states of Anglo nations.

Reviews

‘… combines Swank’s impressive mastery of econometric methods with an equally sensitive and informed qualitative observation of selected cases.’

Source: Journal of Public Policy

'The book is based on sound empirical material and sophisticated analysis … it is highly accessible to both advanced scholars and beginning graduate students.'

Source: West European Politics

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