Large Firms and Institutional Change: Industrial Renewal and Economic Restructuring in France

Hardcover | July 1, 2002

byBob Hancke

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Between 1980 and 1985, the French economy and industry faced a dramatic crisis; in the ten years that followed, it witnessed a remarkable revival. How did the French economy make this transition? While the state is still an important economic agent in France, and the market certainly hasbecome more central in the organization of the French economy, both state- and market-centered perspectives fail to understand critical elements of this adjustment. Building on the new Varieties of Capitalism approach in political economy which puts firms at the center of the analysis, this bookargues that the post-war, state-led system changed into a system organized by and around the large firms. Large firms have always been central in the French post-war economic development model. In the past, however, they adapted to patterns set by the central state. By exploiting the possibilities in government policies in different areas such as finance, labour relations, and regional policies, thelarge firms were able to induce their main interlocutors - the state, banks, labour unions, workers, and small firms - to adjust in a way which was congruent with their own interests. From subservient economic agents, they became the drivers of economic adjustment. Through this case study of readjustment in France, this book offers a subtle critique of neo-institutionalist perspectives on firms. Institutional frameworks do not simply offer scenarios for adjustment, but are themselves constructions of economic and political actors and therefore subject tochange and reorganization. By analysing how large firms in France, arguably one of the least likely places to harbour such endogenous capacities, changed their institutional environment to fit their own needs, this book offers an important new perspective on the political economy of industrial andeconomic change.

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Between 1980 and 1985, the French economy and industry faced a dramatic crisis; in the ten years that followed, it witnessed a remarkable revival. How did the French economy make this transition? While the state is still an important economic agent in France, and the market certainly hasbecome more central in the organization of the Fr...

Bob Hancke studied Sociology at the Free University of Brussels and Political Economy at MIT. From 1994 to 2000 he was a research fellow at the Wissenschaftszentrum in Berlin. His research interests are the comparative analysis of economic and industrial restructuring in advanced capitalist countries; the comparative analysis of labou...

other books by Bob Hancke

Format:HardcoverDimensions:232 pages, 9.21 × 6.14 × 0.74 inPublished:July 1, 2002Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:019925205X

ISBN - 13:9780199252053

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Table of Contents

IntroductionPart I: State, Market, and Firms in the French Political Economy1. Making Sense of France2. The Societe Bloquee Revisited: The Failure of Economic Reforms in France3. Rethinking the French Political Economy: Bringing Firms Back InPart II: Corporate Change in France: Case Studies4. Cars are Cars: Industrial Restructuring in Renault5. Changing the Power Grid: Industrial Reorganization at EDF6. Grinding Vegetables - to a Halt: Delayed Adjustment in Moulinex7. The Argument Extended: Industrial Restructuring in FrancePart III: Conclusion8. Large Firms, Institutions, and Industrial Renewal