© 2017

The Diversity of Emerging Capitalisms in Developing Countries

Globalization, Institutional Convergence and Experimentation

  • Eric Rougier
  • François Combarnous
  • Addresses the nature of developing countries' institutional systems

  • Identifies a set of idiosyncratic forms of institutional governance at sector level

  • Proposes institutional modernization paths to escape the poverty trap

  • Analyses labour, competition, finance, social protection, education and training, agriculture and environment across developing countries

  • Improves understanding of institutional diversity by comparing clusters of institutions for a very broad spectrum of countries


Table of contents

  1. Front Matter
    Pages i-xvii
  2. Analysing Capitalisms as Institutional Systems: Our Approach

  3. The Seven Sectors of Institutional Governance

    1. Front Matter
      Pages 93-93
    2. Ela Callorda Fossati
      Pages 95-126
    3. Coralie Reslinger
      Pages 127-153
    4. Eric Rougier
      Pages 155-184
    5. Matthieu Clément
      Pages 185-212
    6. Dalila Nicet-Chenaf
      Pages 213-241
    7. Céline Bonnefond, Claire Gondard-Delcroix
      Pages 243-270
    8. André Meunié
      Pages 271-294
  4. Varieties of Emerging Capitalism, Institutional Complementarities and Trajectories

    1. Front Matter
      Pages 295-295
    2. Eric Rougier, François Combarnous
      Pages 297-328
    3. François Combarnous, Eric Rougier
      Pages 329-370
    4. François Combarnous, Eric Rougier
      Pages 371-409
  5. Emerging Capitalisms and Paths of Institutional Reforms in Developing Countries

    1. Front Matter
      Pages 411-411
    2. Eric Rougier, François Combarnous
      Pages 413-435
  6. Back Matter
    Pages 437-462

About this book


This book presents the results of a collective and original empirical investigation of the institutional systems underlying the capitalisms that are coming to the fore in developing nations. While varieties of industrialized countries’ capitalisms are extensively scrutinized, those of developing countries’ capitalisms are far less documented. By implementing a unified and original comparative approach based on the institutional complementarity theory, the different contributions of the book find evidence for the originality and extreme heterogeneity of the forms of capitalism to be observed in developing countries.  This text analyses capitalist systems as clusters of sectoral institutions and regulations, identifying differences in emerging and developing countries.
Rougier and Combarnous bring together contributors to answer the following questions: What are these clusters of institutions underlying emerging capitalisms? How can we identify and then study them empirically? Are there common patterns of institutional clustering across countries? If so, what are their main long-term determinants? Are there specific patterns of economic outcome associated with these clusters? Can different forms of institutional complementarity be observed? How can we analyse institutional reform from this perspective?


Capitalism Comparative management Economic planning Developing and emerging countries Heterodox Economic theory Institutional reform Agriculture Education Institutional governance Globalisation Labour institutions Labour regulation Economic systems Product Market Governance Environmental Governance Social protection

Editors and affiliations

  • Eric Rougier
    • 1
  • François Combarnous
    • 2
  1. 1.University of Bordeaux, GREThAPESSAC CEDEXFrance
  2. 2.University of Bordeaux, GREThAPESSAC CEDEXFrance

About the editors

Eric Rougier is Associate Professor in Economics at the University of Bordeaux, and a researcher at the GREThA, CNRS Research Unit, France. He works in the field of development economics with special focus on institutions, economic reforms and globalization. He has published various papers and chapters dealing with institutions, economic growth and distributional issues in middle-income emerging countries in general, and in Middle-East and North African economies in particular.

François Combarnous is Associate Professor in Development Economics at the University of Bordeaux, and a researcher at the GREThA, CNRS Research Unit, France. His research focuses on labour markets, entrepreneurship and social networks issues. He has published several papers and book chapters dealing with such issues as African economies or Brazil. He has also worked with Eric Rougier on structural reforms in developing countries, developing a methodology to measure the extent of reform implementation.

Bibliographic information

Industry Sectors
Finance, Business & Banking


“Globalization was supposed to deliver the next convergence toward a canonical form of capitalism. This book challenges this conventional wisdom. A stimulating and extensive survey of institutional theories and an impressive collection of data covering 140 countries bring an unprecedented analysis and taxonomy for emerging capitalisms and not only mature ones. This should a must read for  any scholar interested in institutional and comparative political economy and reformers in search  for a national strategy  in response to a contested globalization.” (Robert Boyer, Ecole Normale Supérieure Jourdan and Paris School of Economics, France)

“This is a pioneering book that breaks new ground in the institutional analysis of capitalism by undertaking an in-depth, quantitative analysis of institutional heterogeneity around the world. It moves beyond simple dichotomies – such as market-oriented versus statist – to develop a richer taxonomy of institutional clusters in developing economies. The patterns of institutional diversity and experimentation identified by the authors document the malleability of capitalism and make a significant contribution to our understanding of the development process.” (Dani Rodrik, Harvard Kennedy School, University of Harvard, USA)

“The authors take on the very impressive challenge of identifying similarities and differences amongst the political economies of developing countries, both relative to each other and more advanced capitalist systems. This rich collection disentangles the uniqueness and diversity of capitalist systems in the developing world. It poses a challenge to pessimistic views of poor nations as arbitrary and often logically inconsistent systems of market governance.” (Nita Rudra, Georgetown University, USA)

“This book constitutes a deep renewal of our thinking on the nature of capitalisms in emerging and developing countries, as it builds a coherent and convincing theoretical framework that articulates these various capitalisms with institutional systems and political economy: an insightful and thought-provoking book.” (Alice Nicole Sindzingre, National Centre for Scientific Research (CNRS), France)