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The Asian side of the world - II

Jean-François Sabouret

Part Three. Constructing theories

Towards a better understanding of Asian capitalisms?

Sébastien Lechevalier

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June 2012

The revival of comparative capitalism analyses… without Asia

After a blank in the first half of the 1990s, a period during which the illusion that all economic systems would converge towards the Anglo-Saxon form of capitalism was widespread, comparative analyses of capitalism became active again for more than 10 years. It was found that the diversity of capitalisms had been reinforced since the early 1990s, despite pressures such as the collapse of socialist regimes, globalisation and the new technological regime. This sustained diversity does not mean stability, and many studies have shown evidence of various types of change, from the most radical to the most gradual. New fields have been investigated, and one in particular has emerged: the political economy of the diversity of capitalism and institutional changes1.

Nevertheless, in debates in social, economic and political sciences on the diversity of capitalism, Asian capitalisms have been under-researched, with few except...

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