Changing Capitalisms? Internationalization, Institutional Change
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An increasing number of studies in the last decade or so have emphasized the viability and persistence of distinctive systems of economic coordination and control in developed market economies. Over more or less the same period, the revival of institutional economics and evolutionary approaches to understanding the firm has focused attention on how firms create distinctive capabilities through establishing routines that coordinate complementary activities and skills for particular strategic purposes. For much of the 1990s these two strands of research remained distinct. Those focusing on the institutional frameworks of market economies were primarily concerned with identifying complementarities between institutional arrangements that explained coherence and continuity. On the other hand, those focusing on the dynamics of firm behaviour studied how firms develop new capacities and are able to learn new ways of doing things. This book aims to bring together these approaches. It consists of a set of theoretically motivated and empirically informed chapters from a range of internationally known contributors to these debates.