Social partnership and macroeconomic performance

Leibrecht, M. and Rocha-Akis, S. (2014) Social partnership and macroeconomic performance. WIFO Monatsberichte (monthly reports), 87 (8). pp. 555-567.

Abstract/Summary

For decades, the impact that pivotal economic and political institutions have on distinct aspects of overall economic performance has attracted researchers of various fields. One central question concerns the extent to which a country's degree of social partnership is related to important macro-political variables such as economic growth, unemployment, employment and the distribution of income. For a sample of 16 European countries covering the period of 1990 to 2012, the article presents evidence which is consistent with the view that a strong social partnership is associated with better-than-average macroeconomic performance, both in general and in the wake of the latest financial and economic crisis.