Why do unemployment, inflation, and growth rates vary across political economies? Why are some capitalist societies more equitable than others? Why is public spending higher in some countries than others? Drawing on insights from political science, economics, and business, this book addresses these and other related questions in the context of advanced capitalist democracies.

The first part of the book investigates how macroeconomic performance and policy outcomes such as public spending, tax revenue, and trade openness are shaped by various economic and political institutions as well as democratic politics. The second part probes the effects of economic performance and social changes on domestic politics. At the end of each chapter, key terms, review questions, and a short list of recommended readings are included.

Each chapter is designed to familiarize readers with core concepts, theoretical arguments, and empirical evidence related to different substantive themes. With in-text focus boxes and short case studies, this book is ideal for anyone seeking a rigorous introduction to the comparative political economy of advanced political economies, and will be a valuable text on courses in political economy, comparative economics, and related areas.

Prosper M. Bernard, Jr., a former Fulbright scholar, has held academic appointments in the United States and Canada. He is currently an adjunct assistant professor at the City University of New York and New York University. He has published several books and scholarly articles.

List of Figures

List of Tables

List of In Focus Boxes

Acknowledgement

1. Introduction to the Study of Comparative Political Economy

PART I: THE EFFECTS OF INSTITUTIONS AND DEMOCRATIC POLITICS ON ECONOMIC OUTCOMES

2. Economic Institution
3. Political Institutions
4. Political Cycles in Economic Policies and Outcomes

PART II: THE EFFECTS OF THE ECONOMY AND SOCIETY ON DOMESTIC POLITICS

5. Economic Voting
6. Inequality
7. Redistribution
8. Conclusion-Current Directions in CPE

Bibliography