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Why Do National Labor Market Practices Continue to Diverge in the Global Economy? The “Missing Link” of Investment Rules

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  • Susan Christopherson

Abstract

How are we to understand what appear to be persistent differences in national economic practices? One way is through an analysis of the politically constructed “rules” that have been developed to govern markets in the major industrialized economies. Nationally based institutions and the power and agency they construct have a profound influence on private-sector and state actors. This power can be put into play outside as well as inside territorial boundaries. In this article, I expand the theoretical connections between market governance institutions and labor market practices by (1) examining how governance regimes influence the content and degree of labor flexibility and (2) analyzing the U.S. corporate governance regime as a set of institutions that parallels those of the more “coordinated” economies. If corporate governance is taken as central to explaining differences in the flexibility of labor markets, then U.S. practices can be explained more coherently. These practices are not simply a result of the absence of strong labor institutions but derive from the incentives that influence firms in the U.S. corporate governance regime.

Suggested Citation

  • Susan Christopherson, 2002. "Why Do National Labor Market Practices Continue to Diverge in the Global Economy? The “Missing Link” of Investment Rules," Economic Geography, Taylor & Francis Journals, vol. 78(1), pages 1-20, January.
    • Handle: RePEc:taf:recgxx:v:78:y:2002:i:1:p:1-20
    DOI: 10.1111/j.1944-8287.2002.tb00173.x
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    Cited by:

    1. Rosalia Diaz-Carrion & Noelia Franco-Leal, 2022. "Social and strategic innovation: extending the varieties of capitalism to asian countries," International Entrepreneurship and Management Journal, Springer, vol. 18(4), pages 1453-1474, December.
    2. Peter Sunley & Ron Martin & Ben Gardiner & Andy Pike, 2020. "In search of the skilled city: Skills and the occupational evolution of British cities," Urban Studies, Urban Studies Journal Limited, vol. 57(1), pages 109-133, January.
    3. Andrés Rodríguez-Pose & Michael Storper, 2006. "Better Rules or Stronger Communities? On the Social Foundations of Institutional Change and Its Economic Effects," Economic Geography, Taylor & Francis Journals, vol. 82(1), pages 1-25, January.
    4. Clark Gordon L., 2022. "Agency, sentiment, and risk and uncertainty: fears of job loss in 8 European countries," ZFW – Advances in Economic Geography, De Gruyter, vol. 66(1), pages 3-17, May.
    5. Susan Christopherson, 2010. "Afterword: Contextualized Comparison in Local and Regional Economic Development: Are United States Perspectives and Approaches Distinctive?," Regional Studies, Taylor & Francis Journals, vol. 44(2), pages 229-233.

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