ICATSEM

Institutional Changes and Trajectories of Socio-Economic development Models

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 Obiettivo del progetto (Objective)

'The aim of the project is to analyse, within a comparative institutionalist analytical framework, the trajectories of socio-economic development models. Comparative analyses of forms of capitalism have underlined the diversity in institutional configurations. Within the EU, it is assumed that four types of socio-economic models exist: market-oriented, continental, Nordic, and Southern, with the position of transitional CEEC under discussion. The project will reconstitute the historical trajectories of these socio-economic models, in order to understand how their institutional configuration mediates the synergies and trade-offs between the economic, social and environmental dimensions of development. By focusing on complementarities and conflicts as well as changes in socio-political compromises, by contesting the hypothesis of convergence towards a specific European model and by analysing the impacts of globalisation and structural reforms, the possible future for these models will be discussed. The project will combine three approaches Firstly, a quantitative analysis of the trajectories of socio-economic models. Using long-term data bases for industrialized countries, statistical and econometrical analyses will allow for a quantitative historical analysis of trajectories for the period 1975-2005. The analysis will be completed with analysis of CEEC and emerging countries for the period 1990-2010. Secondly, a comparative analysis of socio-political dynamics and institutional changes. Twelve European and four non-European countries will be examined in order to identify, from an historical perspective, the evolution of socio-political compromises and their influence on the dynamics of institutional changes. Thirdly, sectoral analyses of institutional configurations and industrial dynamics, which will combine statistical and socio-political approaches in order to analyse the long term dynamics of four industries within different socio-economic models.'

Introduzione (Teaser)

Evidence is increasingly pointing to how one size doesn't fit all when it comes to a single socioeconomic model within Europe. An exciting new study reveals the latest findings on this front.

Descrizione progetto (Article)

A successful society is one that benefits from an effective model of socioeconomic development. Generally, there are four models of development based on capitalism in the EU, namely market-oriented, continental, Nordic and southern, which are all being influenced by rapid globalisation.

The EU-funded project 'Institutional changes and trajectories of socio-economic development models' (Icatsem) analysed the synergies and trade-offs among the economic, social and environmental dimensions of development within these models.

The project looked at how the models evolved over time, focusing on conflicts, complementarities and changes in the socio-political landscape. It also questioned the idea of convergence towards a specific European model, analysing as well the impacts of globalisation and structural reforms sweeping the EU. Through such in-depth study, Icatsem hoped to extrapolate the future of each socioeconomic model.

In this context, the team underlined how institutional change is actually determined by political factors reflected in macroeconomic policies, a premise that undermines the prospect of growth based on stability. This has necessitated more understanding of the dynamic links between socio-political determinants and institutional change as well as with social and economic performance.

Topics investigated in this respect included weaknesses in the supposed innovation-boosting effect of product market deregulation and the classification of emerging countries into models of capitalism. The project also looked at the trend toward a more liberal form of capitalism. It then studied the weaknesses within capitalism models under current economic strains, as well as the success of individual national models over pan-European ones, particularly with respect to industry.

To illustrate, in the European car industry, free trade and common markets have resulted in disequilibrium between carmakers. This has compromised the industry's ability to overcome challenges related to environmental sustainability. Another key finding was that the diversity of models in Europe is still not accounted for and embedded in public policies, despite the fact that the European Commission acknowledges the importance of diversity.

Whether diversity or uniformity will dominate the future of the EU from a socioeconomic perspective still remains to be seen. In the meantime, European policies must continue to acknowledge existing diversity and adapt to it, a philosophy which seems to work in Europe's favour. There is certainly strength in diversity.