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The politics of growth models

Author

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  • Lucio Baccaro
  • Jonas Pontusson

Abstract

This article develops a framework for studying the politics of growth models. These, the authors posit, are sustained by ‘growth coalitions’ based in key sectors. Their members are first and foremost firms and employer associations, but fractions of labor are also included, if their interests do not impair the model’s functionality. There is no guarantee that a growth coalition and a winning electoral coalition coincide. In normal times, a growth coalition effectively insulates itself from political competition, and mainstream political parties converge on key growth model policies. In moments of crisis, however, the coalition shrinks, favoring the emergence of challengers that fundamentally contest the status quo. The way governing parties respond to electoral pressures can also play an important role in the recalibration of growth models. The authors illustrate the argument by examining the politics of ‘export-led growth’ in Germany, ‘construction-led growth’ in Spain, and ‘balanced growth’ in Sweden.

Suggested Citation

  • Lucio Baccaro & Jonas Pontusson, 2022. "The politics of growth models," Review of Keynesian Economics, Edward Elgar Publishing, vol. 10(1), pages 204-221, January.
  • Handle: RePEc:elg:rokejn:v:10:y:2022:i:2:p204-221
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    Citations

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    Cited by:

    1. Miguel Angel Casau & Daniel Herrero, 2024. "Deindustrialization paths and growth models: Germany and Spain in comparative perspective," LEM Papers Series 2024/06, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    2. Berndt Keller, 2024. "Public sector employment relations: Germany in comparative perspective," European Journal of Industrial Relations, , vol. 30(1), pages 77-96, March.

    More about this item

    Keywords

    Comparative Political Economy; politics; Growth Models; macroeconomic management;
    All these keywords.

    JEL classification:

    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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