- List of Figures
- List of Tables
- List of Contributors
- Institutional Perspectives—Working towards Coherence or Irreconcilable Diversity?
- Beyond Comparative Statics: Historical Institutional Approaches to Stability and Change In the Political Economy of Labor
- Actors and Institutions
- Institutional Reproduction and Change
- Qualitative Comparative Analysis of Social Science Data
- The State in the Economy: Neoliberal or Neoactivist?
- Money and Markets
- Transnational Institutions and International Regimes
- Law as a Governing Institution
- Institutional Change in Financial Systems
- The Comparative Institutional Analysis of Innovation: From Industrial Policy to the Knowledge Economy
- Changing Competition Models in Market Economies: The Effects of Inter‐nationalization, Technological Innovations, and Academic Expansion on the Conditions Supporting Dominant Economic Logics
- Institutions, Wealth, and Inequality
- Corporate Governance
- The Institutional Construction of Firms
- Institutionalizing the Employment Relationship
- Inter‐Firm Relations in Global Manufacturing: Disintegrated Production and Its Globalization
- Institutional Transformation in European Post‐Communist Regimes
- State Failure
- Financial Capitalism Resurgent: Comparative Institutionalism and the Challenges of Financialization
- Institutional Competitiveness: How Nations came to Compete
- Epilogue: Institutions in History: Bringing Capitalism Back In
Abstract and Keywords
This article reviews alternative approaches to comparing financial systems and conceptualizing their broader political–economic functions. It provides a brief empirical summary of key changes in financial systems. The article addresses debates on how to explain change in financial systems. Finally, it revisits the issue of financial system typologies, looks more closely at the changing function of financial systems vis-à-vis the real economy and the financial crisis of the late 2000s, and concludes with an agenda for future research in the field. The article suggests that simple typologies of national financial systems are increasingly difficult to sustain in the light of common trends towards the increased financialization and internationalization of finance, even as remaining differences in national financial systems are quite evident in the differential impact of the global financial crisis.
Richard Deeg is Professor of Political Science, Temple University, Philadelphia, USA.
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