Hostname: page-component-848d4c4894-jbqgn Total loading time: 0 Render date: 2024-07-04T13:16:13.125Z Has data issue: false hasContentIssue false
  • English
  • Français

The Financial System and Corporate Governance in Germany: Institutions and the Diffusion of Innovations*

Published online by Cambridge University Press:  28 November 2008

Kirsten S. Wever  and
Christopher S. Allen
Kirsten S. Wever
Affiliation:
Human Resources Northeastern UniversityBoston
Christopher S. Allen
Affiliation:
Political Science University of Georgia
Get access Rights & Permissions [Opens in a new window]

Abstract

Germany's economic resilience, even in the face of the extreme pressures of unification, cannot be explained by the neoclassical economic approach. Its social market institutions induce the major actors in the political economy to negotiate over the terms of economic and political adjustment in such a fashion as to diffuse innovative new organizational and institutional practices broadly and thoroughly throughout the economy and polity. The reorganization of the financial sector and the spread of new forms of workplace organization and corporate governance are used to illustrate this dynamic. The paper concludes with implications for how we think about regulation.

Type
Articles
Information
Journal of Public Policy , Volume 13 , Issue 2 , April 1993 , pp. 183 - 202
Copyright
Copyright © Cambridge University Press 1993

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

REFERENCES

Allen, Christopher S., ‘Domestic Politics and Private Investment: Financial Regulation in West Germany and the United States’, Research Report No. 2, American Institute for Contemporary German Studies, Johns Hopkins University, Washington D.C., 1990.Google Scholar
Allen, Christopher S., ‘The Underdevelopment of Keynesianism in the Federal Republic of Germany’, in Hall, Peter, Ed., The Political Power of Economic Ideas: Keynesianism Across Nations, (Princeton: Princeton University Press, 1989).Google Scholar
Allen, Christopher S., and Wever, Kirsten S., ‘Work Place Change and the Politics of Industrial Adjustment: The Shipping Industry in Six Northwest European Countries’, unpublished paper, University of Georgia Department of Political Science and Northeastern University College of Business Administration, 05 1993.Google Scholar
Baethge, Martin et al. , Betriebliche Weilerbildung: Forschungsstand und Forschungsperspekliven aus Sicht von Arbeitnehmern, (Bonn: Bundesministerium fuer Bildung und Wissenschaft, 1990).Google Scholar
Bahnmueller, Reinhard et al. , ‘Weiterbildung Durch Tarifvertrag’, in W.S.I. Mitteilungen, Vol. 33, No. 3, March 1991.Google Scholar
Bispinck, Reinhard, ‘Entgelt nach Qualification’, Working Paper, Wirtschafts-and Sozialwissenschaftsinstitut des D.G.B., Duesseldorf, 1991.Google Scholar
Bosch, Gerhard, Qualilfizieren Slatt Entlassen, (Opladen: Westdeutscher Verlag, 1990).CrossRefGoogle Scholar
Bosch, Gerhard, and Knuth, Matthias, ‘The Labour Market in East Germany’, I.A.T. Working Paper, Institut Arbeit und Technik, Gelsenkirchen, 1992.Google Scholar
Clarich, Marcello, ‘The German Banking System: Legal Foundations and Recent Trends’, E.U.I. Working Paper #7–269, European University Institute, Florence, 1987.Google Scholar
Collective Bargaining Forum, ‘Labor Management Commitment: A Compact for Change’, U.S. Department of Labor Bureau of Labor-Management Relations and Cooperative Programs, B.L.M.R. 141, 1991.Google Scholar
Dahrendorf, Ralf, Society and Democracy in Germany, (Toronto: McLeod, 1967).Google Scholar
Deeg, Richard Edward, Banks and the State in Germany: The Critical Role of Subnational Institutions in Economic Governance, Ph.D. Dissertation, M.I.T. Department of Political Science, 1992.Google Scholar
Duwe, Ursula and Becker-Toepfer, Elisabeth, ‘Gruppenarbeit in der Bank? Ueberlegungen der Interessenvertretung in der Commerzbank’, in Roth, Siegfried and Kohl, Heribert, eds., Perspektive Gruppenarbeit, (Koeln: Bund Verlag, 1988).Google Scholar
Wolfgang, Gerke, ed., Risikokapital ueber die Borse: Mannheimer Bankenforum, Symposium. (Berlin and New York: Springer-Verlag, 1986).Google Scholar
Gerschenkron, Alexander, Bread and Democracy in Germany, (Ithaca: Cornell University Press, 1989).Google Scholar
Hammond, Thomas H. and Knott, Jack H., ‘The Deregulatory Snowball: Explaining Deregulation in the Financial Industry.’ in Journal of Politics, Vol. 50, 1988.CrossRefGoogle Scholar
Harhoff, Dietmar and Stahl, Konrad, ‘Firm Dynamics in Eastern Germany: First Empirical Results’, Z.E.W. discussion paper #92–05, Zentrum fuer Europaeische Wirtschaftsforschung, Mannheim, 05 1993.Google Scholar
Herrigel, Gary, ‘Industrial Order and the Politics of Industrial Change: Mechanical Engineering’, in Katzenstein, Peter J., ed., Industry and Political Change: Toward the Third West German Republic, (Ithaca: Cornell University Press, 1992).Google Scholar
Metall, I. G., Solidarilaet und Freiheit, (Koeln: Bund Verlag, 1989).Google Scholar
Katz, Harry, ‘The Decentralization of Collective Bargaining: A Literature Review and Comparative Analysis’, unpublished paper, Cornell University N.Y.S.S.I.L.R., 02 1993.Google Scholar
Katzenstein, Peter, Politics and Policy in the Federal Republic: The Semi-Sovereign State, (Philadelphia: Temple University Press, 1987.Google Scholar
Klebe, Thomas, and Roth, Siegfried, Information Ohne Grenzen, (Hamburg: V.S.A. Verlag, 1987).Google Scholar
Knuth, Matthias, ‘Eine Brücke zu neuen Ufern?’ unpublished paper, Institut Arbeit und Technik, Gelsenkirchen, 1993.Google Scholar
Lazonick, William, Business Organization and the Myth of the Market Economy, (New York: Cambridge University Press, 1991).Google Scholar
Locke, Richard M., ‘The Decline of the National Union in Italy: Lessons for Comparative Industrial Relations Theory’, in Industrial and Labor Relations Review, Vol. 45, No. 2, January 1992.CrossRefGoogle Scholar
Bernd, Marin and Mayntz, Renate, eds., Policy Networks and Theoretical Considerations, (Boulder, CO: Campus, 1991).Google Scholar
Markovits, Andrei S., The Politics of the West German Trade Unions: Strategies of Class and Interest Representation in Growth and Crisis, (Cambridge: Cambridge University Press, 1986).Google Scholar
Moran, Michael, ‘A State of Inaction: The State and Stock Exchange Reform in the Federal Republic of Germany’, in Bulmer, Simon, ed., The Changing Agenda of West German Public Policy, (Brookfield, VT: Gower, 1989).Google Scholar
Oberbeck, Herbert and Baethge, Martin, ‘Computers and Pin-stripes: German Financial Institutions between Dominant Market Control and Conservative Business Policy’, in Katzenstein, Peter J., ed., Industry and Political Change: Toward the Third West German Republic, (Ithaca: Cornell University Press, 1989).Google Scholar
Offe, Claus, Disorganized Capitalism: Contemporary Transformations of Work and Politics, (Cambridge: M.I.T. Press, 1985).Google Scholar
Reinicke, Wolfgang L., ‘Turf Flights in Regulatory Reform’, in Challenge, Vol. 34, No. 6, November–December 1991.CrossRefGoogle Scholar
Roepke, Wilhelm, ‘The Guiding Principles of the Liberal Programme’, in Wuenche, H.F., ed., Standard Texts on the Social Market Economy, (Stuttgart and New York: Gustav Fischer Verlag, 1982).Google Scholar
Rose, Helmut, ‘Zur Oekologie der Arbeit: 10 Jahre Bilanz – Innovations-und Technologieberatungsstelle der I.G. Metall Hamburg’, presented to the Institut fuer Sozialwissenschaftliche Forschung, Munich, 10 1989.Google Scholar
Siegfried, Roth, and Kohl, Heribert, eds., Perspektive Gruppenarbeit, (Koeln: Bund Verlag, 1988).Google Scholar
Schlossberg, Stephen, and Reinhart, Miriam Birgit, ‘Electromation and the Future of Labor-Management Cooperation in the U.S.,’ in Labor Law Journal, September 1992.Google Scholar
Shonfield, Andrew, Modern Capitalism, (New York: Harper, 1965).Google Scholar
Simon, Walter, Macht und Herrschaft der Unternehmerverbaende B.D.I., B.D.A. and D.I.H.T.; (Koeln: Pahl Rugenstein Verlag, 1976).Google Scholar
Streeck, Wolfgang, ‘Industrial Relations in a Changing Western Europe’, Working Paper, University of Wisconsin at Madison Department of Sociology, 1991.Google Scholar
Streeck, Wolfgang, and Vitols, Sigurd, ‘European Works Councils: Between Statutory Enactment and Voluntary Adoption’, unpublished paper, University of Wisconsin Department of Sociology, 06 1992.Google Scholar
Thelen, Kathleen, Union of Parts: Labor Politics in Postwar Germany, (Ithaca: Cornell University Press, 1991).Google Scholar
Turner, Lowell, ‘German Unions in the 1990s: Between Unification and Europe’, paper Industrial Relations Research Association Annual Meeting,New Orleans,January 3–5, 1991.Google Scholar
Turner, Lowell, ‘Institutional Resiliency in a Changing World Economy: German Unions between Unification and Europe’, paper Third Bargaining Group Conference,University of California,Berkeley,March 6–7, 1992.Google Scholar
Vogel, David,‘Why U.S. Businessmen Distrust the State’, in British Journal of Industrial Relations, Vol. 8, January 1978.Google Scholar
Otto, Vogel, ed., Deregulierung und Privatisierung, (Cologne: Deutscher Institutsverlag, 1988).Google Scholar
Weir, Margaret, Politics and Jobs; The Boundaries of Employment Policy in the United States, (Princeton: Princeton University Press, 1992).Google Scholar
Wever, Kirsten, ‘Learning from Works Councils: Five Unspectacular Cases from Germany’, forthcoming in Industrial Relations.Google Scholar
Wever, Kirsten, and Allen, Christopher S., ‘Is Germany a Model for Managers?’ in Harvard Business Review, September–October 1992.Google Scholar
Woelke, Gabriel, ‘Neue Technologien und Partizipation der Arbeitnehmer: Drei Fallstudien aus der Automobilindustrie der USA, Grossbritaniens und Italiens’, (Koeln: Deutsches Instituts Verlag, 1989).Google Scholar
Zysman, John, Governments, Markets and Growth: Financial Systems and the Politics of Industrial Change, (Ithaca: Cornell University Press, 1983).Google Scholar