Schneider, Ben Ross

Hierarchical capitalism in Latin America: business, labor, and the challenges of equitable development - New York Cambridge University Press 2013 - xiv, 237 p. Includes bibliographical references and index - Cambridge studies in comparative politics .

Table of contents:

1.Hierarchical Capitalism in Latin America
Introduction: Perspectives and Arguments
Core Institutions of Hierarchical Capitalism
Institutional Complementarities
Plan of the Book
2.Comparing Capitalisms: Liberal, Coordinated, Network, and Hierarchical
Allocative Mechanisms: Markets, Negotiation, Trust, and Hierarchy
Complementarities and Compatibilities
Conclusions and Comparisons
3.Corporate Governance and Diversified Business Groups: Adaptable Giants
Structures and Functions
Comparative Perspectives on Strategy
Responses to Liberalization and Globalization
The Downside for Development
4.Corporate Governance and Multinational Corporations: How Ownership Still Matters
Trends in FDI in 1990s and 2000s
Consequences and Complementarities
Political Consequences: The Costs of Mousiness
5.Labor: Atomized Relations and Segmented Markets
Labor Markets in Liberal, Coordinated, and Hierarchical Capitalism
Complementarities in Labor Markets
Politics and Complementarities with Other Institutions
6.Education, Training, and the Low-Skill Trap
Constraints on Business Demand for Skills
Limits on Individual Demand for Education
Weak Political Demands for Education
Conclusions and Possible Escape Strategies
7.Business-Group Politics: Institutional Bias and Business Preferences
Political Institutions and Privileged Access for Insiders
What Do Business Groups Want?
Degrees of Political Intimacy
8.Twenty-First-Century Variations: Divergence and Possible Escape Trajectories
Mexico: Continuities and Gridlock
Argentina: Left Populism and the Eclipse of Business Groups
Brazil: Industrial Policy and Demand Shock
Contents note continued: Chile: Technology Policy and Education Supply Shock
Political Stability and Good Governance in Chile and Brazil
Configurations and Complementarities: Implications for Policy and Theory
Institutional Origins and Change.

This book argues that Latin America has a distinctive, enduring form of hierarchical capitalism characterized by multinational corporations, diversified business groups, low skills and segmented labor markets. Over time, institutional complementarities knit features of corporate governance and labor markets together and thus contribute to institutional resiliency. Political systems generally favored elites and insiders who further reinforced existing institutions and complementarities. Hierarchical capitalism has not promoted rising productivity, good jobs or equitable development, and the efficacy of development strategies to promote these outcomes depends on tackling negative institutional complementarities. This book is intended to open a new debate on the nature of capitalism in Latin America and link that discussion to related research on comparative capitalism in other parts of the world.


Economic development - Political aspects - Latin America
Capitalism - Latin America
Politics - Policy

330.98 / S2H4

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