National economies differ because institution matrices enable different firm types to thrive

Evidence

Research under the rubric of varieties of capitalism suggests that national economies can be described in terms of a matrix of institutions (North 1990) that shape the appearance of economic organizations (corporations, banks) and the prevalence of different sectors. This matrix includes institutions that regulate product market competition, labor markets, capital markets, education systems, and the provision of social welfare (cf. Amable 2003, Hall & Soskice 2001). In industrialized economies, these institutions combine, akin to an institutional terroir, to enable particular types of firms and industries to thrive. — Gerald F. Davis & Suntae Kim, Financialization of the Economy, 124

Categorization

• XREF: The institutional terroir metaphor parallels the reader’s ‘Grafting & Growth: On Trees as Infrastructure’ essay’s use of terroir/ecological metaphors to describe grown infrastructures. — connects to: Business school institutional structure determines whether theoretical finance thrives — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 1095; Social structures carry history and continuity that independently affect economic systems — Coleman, SocialCapitalCreation-1988, 29; Capitalism is a singular economic-institutional ensemble that can be reinvented — Michel Foucault, The Birth of Biopolitics: Lectures at…, 904 (+1 more)
• DEFINE: Concise definition of the varieties-of-capitalism framework and the ‘institutional terroir’ concept.

Related

• Business school institutional structure determines whether theoretical finance thrives (similarity 0.79)
• Capitalism is a singular economic-institutional ensemble that can be reinvented (similarity 0.79)

Broader Connections

• Business school institutional structure determines whether theoretical finance thrives #exemplifies (0.80) — Donald MacKenzie, An Engine, Not a Camera, 1095
• Social structures carry history and continuity that independently affect economic systems #corroborates (0.78) — Coleman, SocialCapitalCreation-1988, 29
• Capitalism is a singular economic-institutional ensemble that can be reinvented #contradicts (0.75) — Michel Foucault, The Birth of Biopolitics, 904
• Transplanted philosophies operate differently depending on a countrys economic development stage #expands (0.72) — Bertrand Russell, History of Western Philosophy, 2180