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https://hdl.handle.net/10419/43728

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From managed to market capitalism? German finance in transition

Vom gesteuerten Kapitalismus zum Marktkapitalismus: der deutsche Finanzsektor im Wandel
[working paper]

Lütz, Susanne

Corporate Editor
Max-Planck-Institut für Gesellschaftsforschung

Abstract

"Deregulierungsprozesse, technologischer Wandel und die Integration von Märkten setzen nationale und sektorale Institutionen der Marktkoordination unter Wettbewerbsdruck. Im Kern geht es hierbei um die Frage, ob sich der kontinentale, auf Konsens und Koordination ausgerichtete Kapitalismustyp dem an... view more

"Deregulierungsprozesse, technologischer Wandel und die Integration von Märkten setzen nationale und sektorale Institutionen der Marktkoordination unter Wettbewerbsdruck. Im Kern geht es hierbei um die Frage, ob sich der kontinentale, auf Konsens und Koordination ausgerichtete Kapitalismustyp dem angelsächsischen, eher marktorientierten Typ annähert. Der Beitrag untersucht die Reichweite dieser Konvergenzthese am Beispiel des deutschen Finanzsektors, seiner Beziehungen zur Industrie und zum Staat. Es wird argumentiert, daß im deutschen Modell ein institutioneller Umbau stattfindet, der Charakterzüge des angelsächsischen Kapitalismus in sich trägt. Gleichwohl verhindern institutionelle Bremsen wie föderale Strukturen und Vetopositionen gesellschaftlicher Lobbygruppen bislang eine systemweite Konvergenz." [Autorenreferat]... view less


"Deregulation, technological change, and the integration of markets increase the competitive pressures on forms of national and sectoral governance. The heart of the issue is whether the Continental, consensus-oriented model of capitalism is gravitating toward the Anglo-Saxon, market-oriented model.... view more

"Deregulation, technological change, and the integration of markets increase the competitive pressures on forms of national and sectoral governance. The heart of the issue is whether the Continental, consensus-oriented model of capitalism is gravitating toward the Anglo-Saxon, market-oriented model. This essay examines the heuristic value of this convergence thesis, using the German financial sector and its relations to industry and government as a case in point. It will be argued that while institutional restructuring is taking place within Germany that reflects characteristics of Anglo-Saxon capitalism, institutional hurdles, such as federal structures and the veto power of certain societal lobbies, have thus far prevented such a convergence throughout the entire system." [author's abstract]... view less

Keywords
banking; Federal Republic of Germany; economic change; capitalism; corporatism; globalization; Europeanization; deregulation; institutional change; federalism

Classification
National Economy
Economic Sectors
Sociology of Economics

Method
descriptive study

Document language
English

Publication Year
2000

City
Köln

Page/Pages
28 p.

Series
MPIfG Discussion Paper, 00/2

Handle
https://hdl.handle.net/10419/43728

ISSN
1864-4325

Status
Published Version; reviewed

Licence
Deposit Licence - No Redistribution, No Modifications

Data providerThis metadata entry was indexed by the Special Subject Collection Social Sciences, USB Cologne


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© 2007 - 2025 Social Science Open Access Repository (SSOAR).
Based on DSpace, Copyright (c) 2002-2022, DuraSpace. All rights reserved.