Contemporary capitalist societies use different institutions to manage economic risks. While different public welfare state and financial institutions (banks, capital markets) have been studied across coordinated and liberal market economies, this paper adds the private insurance sector to the...

This article analyzes various pitfalls that arise in the application of panel data methods in comparative political economy. Empirically, we refer to the debate on the globalization-welfare state nexus by re-assessing a study by Garrett and Mitchell (‘Globalization, Government Spending and...

Path dependence as a concept in institutional theories has become increasingly popular in economics and other social sciences. The key idea is that in a sequence of events, the latter events are not (completely) independent from those that occurred in the past. Yet, common usage of the concept...