TY - BOOK A1 - Hassel, Anke A1 - Palier, Bruno T1 - Growth and Welfare in Advanced Capitalist Economies BT - How Have Growth Regimes Evolved? N2 - Growth and Welfare in Advanced Capitalist Economies takes stock of the major economic challenges that advanced industrial democracies have faced since the early 1990s and the responses by governments to them. It has three goals: firstly, to further our understanding of how political economies have transformed over the past decades; secondly, to analyse the contribution of governments to these changes, by looking at their growth strategies and thirdly, to highlight and analyse the role of the reforms of welfare systems in this transformative change. In a nutshell, this book maps and provides general understanding of the evolution of growth regimes in advanced capitalist countries. It identifies five main growth regimes in contemporary advanced capitalist economies (three export-led and two domestic demand-led ones). To do so the book combines a supply side approach to economic growth as advocated by the Varieties of Capitalism Literature (OUP, 2001) with a demand side perspective as the recent discussion on growth models has exemplified. It argues that all political economies consist of growth regimes, which are based on a set of institutions that shape the supply side of the economy as well as on demand drivers such as government spending and private consumption. Both supply and demand are heavily shaped by the welfare state which provides for skills through education systems and stimulates demand through high social spending and private pension funds. The book focuses on the analysis of welfare reforms as growth strategies pursued by governments in an era characterised by financialization and the rise of the knowledge economy. Y1 - 2020 SN - 9780198866176 U6 - https://doi.org/10.1093/oso/9780198866176.001.0001 PB - Oxford University Press ER - TY - BOOK A1 - Hassel, Anke A1 - Palier, Bruno ED - Hassel, Anke ED - Palier, Bruno T1 - Tracking the Transformation of Growth Regimes in Advanced Capitalist Economies T3 - Growth and Welfare in Advanced Capitalist Economies: How Have Growth Regimes Evolved? Y1 - 2020 U6 - https://doi.org/10.1093/oso/9780198866176.003.0001 PB - Oxford University Press CY - Oxford ER - TY - JOUR A1 - Hassel, Anke A1 - Palier, Bruno A1 - Avlijaš, Sonja T1 - The pursuit of growth. Growth regimes, growth strategies and welfare reforms in advanced capitalist economies JF - Stato e mercato N2 - In this article, we develop an analytical framework to study how economies and welfare systems have been adapted to the common challenges of post-industrialization, financialization, and the knowledge economy. We show that, despite the global interconnectedness of modern economies, national trajectories of growth and policy-making remain distinct. Our explanation focuses on the pursuit of different growth strategies in contemporary advanced capitalist economies. Growth strategies are in large parts welfare reforms. Governments use the policy tools of the welfare state such as employment policy, housing policy, pensions, minimum wages and education as facilitators for growth. They pursue them in different ways depending on the growth regime their economies are embedded in. The articles starts with an overview of two key concepts used to build our argument: i) the complementary relationship between national growth and welfare regimes and ii) growth strategies through which growth and welfare regimes are reformed in the new era of globalization, ICT and financialization driven growth. It then provides an overview of five main ideal-typical growth regimes that have developed in advanced capitalist economies: the dynamic services export-led growth regime, the high-quality manufacturing export-led, the FDI-financed export-led, the financebased domestic demand-led and the public-financed domestic demand-led ones. Finally, it analyses the ties between growth strategies and welfare reforms and thus identifies five main types of welfare state reforms strategies: dualization of welfare, social investment, fiscal and social attractiveness, commodification of welfare, and social protectionism. Within the Eurozone, because of external pressure, the latter strategy has been transformed into a «competitive impoverishment» strategy for Southern European countries. Y1 - 2020 U6 - https://doi.org/10.1425/97509 VL - 2020 IS - 3 SP - 41 EP - 77 ER -