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In this article I explore empirically the determinants of the persistent cross-national variation in finance capitalism in advanced democracies. I find that the degree of strategic coordination through extra-market institutions -- which protect the economic system from class and sectoral pressures and promote collaboration among state agencies, financiers, managers, and labor organizations -- contributes to a country's domestic banking and financial intermediary-based development but is less conducive to the development of its securities markets. The financial liberalization reforms of the 1990s meant the emergence of an asymmetric corporatist system, whereby banks and other financial institutions played a crucial role in defining the new rules of financial governance. Conducting a panel data analysis encompassing 18 advanced democracies over the period of 1960-2005, I find evidence of the impact of strategic coordination on financial development, while controlling for alternative explanations and ensuring that my estimates capture the influence of the exogenous component of coordination. The paper shows that convergence to the Anglo-Saxon model of finance has not occurred. Adapted from the source document.

The most salient theoretical cleavage in contemporary literature in International Relations on institutions & on the EU is a rational/constructivist (or sociological) dichotomy. Both, rational choice theorists & constructivists agree that "institutions matter" in the sense of exerting an independent causal influence in the social real, but they differ in their arguments about "how institutions matter." While many scholars recognize possible complementarities between rational choice & constructivist institutionalist variants, the "metatheoretical" debate about institutions often hampers the theoretical, methodological & empirical dialogue. In her essay, the author seeks to integrate insights from both rational choice & social constructivism in order to understand the effects of international factors, in particular, the EU on domestic structures of the countries of Central & Eastern Europe (CEE). 37 References. Adapted from the source document.

... assuming that the world realm will be composed of more than one territorial unit, we can assume that the security, diplomacy, law, commerce, the evolution of culture and of civilization will be influenced by the dominance of the nation-state in the future and that sovereignty, as his major characteristic "will continue to be an essential qualification, in law as in practice, for membership in the international community." But on the other hand, there are proposals for the establishment of a Parliamentary Assembly in the U.N. to represent the people rather than states of the world. It is difficult to pronounce the final judgement about sovereignty, we can only presuppose that the concept of sovereignty in the future is likely to become "even more blurred and indistinct" than it is at present. (SOI : MO: S. 112)