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The research program's main focus lies in the
application of the "Varieties of Capitalism Approach" (VoC) to three
different areas. The first area is the political economy of economic
recovery and industrial change in the largest EMU economies:
Germany, France and Italy. Second, and in explicit contrast to the
first, VoC is applied to study the nature of recovery in the US and
UK. Third, industrial upgrading in developing economies is examined
with special reference to transition economies.
each case, there are three cross-cutting themes: (i) the role of
macroeconomics, in particular the slow growth of consumer demand in
the large EMU economies compared to the Anglo-Saxon world; (ii) the
role of politics, and the contrast between consensus based political
systems and majoritarian ones; and (iii) the role of regions, and
the contrast between small economic areas and large ones.
The underlying question is: Why does it pay to be small in consensus
based economies, but not in Anglo-Saxon ones, and what lessons does
this have for transition economies?