This chapter presents results from cluster analyses of five institutional areas: product-market competition, the labour market, the financial sector, social protection, and the education system. It is shown that the clusterings of countries are not necessarily identical to the theoretical typology of capitalism presented in the previous chapter. Usually, one specific institutional area (labour market, welfare state, etc.) is privileged even when others are taken into account, and the typologies derived are partial. Thus, it is necessary to take into account all the possible complementarities...

This chapter presents results from cluster analyses of five institutional areas: product-market competition, the labour market, the financial sector, social protection, and the education system. It is shown that the clusterings of countries are not necessarily identical to the theoretical typology of capitalism presented in the previous chapter. Usually, one specific institutional area (labour market, welfare state, etc.) is privileged even when others are taken into account, and the typologies derived are partial. Thus, it is necessary to take into account all the possible complementarities between the five institutional areas in order to come to an empirical classification of capitalism.