This article challenges the methodological nationalism of the convergence debate by arguing that multilevel governance destabilizes the coalitions thought to underpin liberal and coordinated varieties of capitalism. Existing efforts to explain how coherent production regimes emerge and persist...

The paper reviews the origins of the comparative study of capitalism and of the diverse approaches applied to it in contemporary political economy. It distinguishes four models accounting for differences in the institutional make-up of national capitalist economies, which it refers to as the...

The role of macroeconomic policy in the different varieties of capitalism has been largely ignored. Recent contributions to the literature have argued that nonliberal economies should be expected to have less accommodating (i.e., less countercyclical) macroeconomic policies than liberal...