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Culture, meaning, and institutions: executive rationale in Germany and Japan

Author: Witt, Michael A. ; Redding, GordonINSEAD Area: Economics and Political Science ; Entrepreneurship and Family EnterprisePublisher: Fontainebleau : INSEAD, 2008.Language: EnglishDescription: 72 p.Type of document: INSEAD Working Paper Online Access: Click here Abstract: We explore the relationship between GDP growth and “strategic coordination”, a construct from the varieties of capitalism literature (Hall and Soskice 2001). We find support for the hypothesis suggested by Witt and Lewin (2007) that the rise of the internet in the 1990s is linked with lower GDP growth as strategic coordination increases. We find no support for a second hypothesis suggested by the same authors about the growth impact of FDI globalization in the 1990s, nor of the hypothesis by Hall, Soskice, and Gingerich (Hall and Soskice 2001; Hall and Gingerich 2004) that countries with very low or very high levels of strategic coordination show higher GDP growth. We further find that GDP growth in coordinated market economies tended to benefit from FDI globalization in the 1990s, although this effect was outweighed by a negative growth effect related to the rise of the internet during the same period.
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We explore the relationship between GDP growth and “strategic coordination”, a construct from the varieties of capitalism literature (Hall and Soskice 2001). We find support for the hypothesis suggested by Witt and Lewin (2007) that the rise of the internet in the 1990s is linked with lower GDP growth as strategic coordination increases. We find no support for a second hypothesis suggested by the same authors about the growth impact of FDI globalization in the 1990s, nor of the hypothesis by Hall, Soskice, and Gingerich (Hall and Soskice 2001; Hall and Gingerich 2004) that countries with very low or very high levels of strategic coordination show higher GDP growth. We further find that GDP growth in coordinated market economies tended to benefit from FDI globalization in the 1990s, although this effect was outweighed by a negative growth effect related to the rise of the internet during the same period.

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