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Neo-Liberal Small States and Economic Crisis: Lessons for Democratic Corporatism

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  • Baldur Thorhallsson
  • Rainer Kattel

Abstract

This paper argues that the 2008 economic crisis was particularly deep in Estonia and Iceland because non-corporatist neo-liberal political features were essential endogenous factors deepening it. A lack of corporatist features also formed the basis for responses to the crisis and the political aftermath in both cases. Furthermore, the paper argues that adding new institutionalist aspects to the corporatist model – in particular the juxtaposition of compound and simple polities – helps deepen our understanding of political dynamics in societies that lack clear-cut corporatist features. It makes a big difference whether or not a country enters the neo-liberal era with an already corporatist set of structures.

Suggested Citation

  • Baldur Thorhallsson & Rainer Kattel, 2013. "Neo-Liberal Small States and Economic Crisis: Lessons for Democratic Corporatism," Journal of Baltic Studies, Taylor & Francis Journals, vol. 44(1), pages 83-103.
    • Handle: RePEc:taf:rbalxx:v:44:y:2013:i:1:p:83-103
    DOI: 10.1080/01629778.2012.719306
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    Cited by:

    1. DUKE Ben, 2014. "‘Small is Beautiful’, Analysing the Democratising Effect of Localism, Greater Regional Autonomy, Decentralisation and Constitutional Reform," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 02, June.
    2. Eckhard Hein & Walter Paternesi Meloni & Pasquale Tridico, 2021. "Welfare models and demand-led growth regimes before and after the financial and economic crisis," Review of International Political Economy, Taylor & Francis Journals, vol. 28(5), pages 1196-1223, October.
    3. Tea Kasradze & Ekaterine Gulua, 2023. "Challenges and Opportunities for Teaching Practical Skills at Higher Education Institutions under the conditions of COVID-19 Pandemic," European Journal of Social Sciences Education and Research Articles, Revistia Research and Publishing, vol. 10, ejser_v10.
    4. Jaanus Müür, 2022. "Intermediating Smart Specialisation and Entrepreneurial Discovery: The Cases of Estonia and Helsinki-Uusimaa," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(1), pages 541-573, March.
    5. Stefan Mann, 2014. "A Comparative Study of Institutionalizing Public Plant Breeding," Public Organization Review, Springer, vol. 14(3), pages 373-383, September.

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