Rethinking Comparative Political Economy
This paper develops an analytical approach to comparative political economy that focuses on the relative importance of different components of aggregate demand in the first instance, exports and household consumption and dynamic relations among the "demand drivers" of growth. We illustrate this approach by comparing patterns of economic growth in Germany, Italy, Sweden, and the United Kingdom over the period 1994 2007. Our discussion emphasizes that export led growth and consumption led growth have different implications for distributive conflict.