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Varieties of capitalism, quality of government, and policy conditionality in Southern Europe: Greece and Portugal in comparative perspective

Paraskevopoulos, Christos J. (2017) Varieties of capitalism, quality of government, and policy conditionality in Southern Europe: Greece and Portugal in comparative perspective. GreeSE papers (117). Hellenic Observatory, European Institute, London, UK.

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Abstract

This paper, drawing primarily on the Varieties of Capitalism (VoC) theoretical approach to political economy and the institutional theory of Europeanisation with emphasis on the Quality of Government (QoG) approach, examines possible variation between Greece and Portugal, in terms of their responses to pressures from Europeanisation before the crisis, as well as to MoU conditionality during the crisis. The empirical evidence seems to vindicate the fundamental assumptions of the VoC approach about the impact of variation among member states of the Eurozone, in terms of models of capitalism/political economy, on the crisis in Greece and Portugal. However, QoG is identified as key explanatory variable for variation in adaptation/adjustment capacity between the two countries, especially during the crisis. Additionally, there seems to be no evidence that cultural aspects, such as the level of social trust/ capital, can account for variation in adaptation performance between the two countries during the crisis.

Item Type: Monograph (Discussion Paper)
Official URL: http://www.lse.ac.uk/europeanInstitute/research/he...
Additional Information: © 2017 The Authors
Divisions: Hellenic Observatory
Subjects: J Political Science > JC Political theory
J Political Science > JN Political institutions (Europe)
Sets: Research centres and groups > Hellenic Observatory
Collections > GreeSE: Hellenic Observatory papers on Greece and Southeast Europe
Date Deposited: 13 Nov 2017 12:09
Last Modified: 25 Jan 2021 00:58
URI: http://eprints.lse.ac.uk/id/eprint/85330

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