The Construction of an LME Frankenstein in a CME world

: A VoC Analysis of the Content and the Effects of the Memoranda in the Case of the Greek Economy

Abstract

The aim of this thesis is to examine the cohesiveness of the theory of Varieties of Capitalism (VoC) and the extent to which it can account for the potential effectiveness of reforms based on the degree of their institutional compatibility. These goals are pursued through the research question: ‘is the (VoC) institutional relation (compatibility/incompatibility) between the Greek economy and the reforms introduced by the Troika associated with the nature of the effect of the reforms on Greece’s economy’? The single-country case study methodology utilized facilitated the examination of the immediate effects of the reforms on Greece’s economic performance via focusing on the reforms’ impact on the VoC categories of: industrial relations, labour market relations and education/vocational training. The study confirms the cohesiveness of VoC by identifying the Liberal Market Economic character of the reforms and their subsequent multidimensional institutional incompatibility, as the leading factors behind the reforms’ failure to achieve their goals.

Date of Award	2018
Original language	English
Awarding Institution	Political Economy
Sponsors	Alexander S. Onassis Foundation
Supervisor	Yannick Slade-Caffarel (Supervisor) & Stephen Pratten (Supervisor)