Veronika Lemeire, Hasselt University Patrizia Zanoni, Hasselt University. In a coordinated market economy, their entire economy run around on a long-term relationships between firms. In liberal market economies (LME), the problem of coordination between firms and their financiers, employees, suppliers, and customers is solved through market mechanisms (Soskice, 1990). Liberal and Coordinated Market Economies 2 Liberal Market Economies versus Coordinated Market Economies Introduction The desire to attain global competitiveness for national economies manifests in the increased adoption of market economies. A central structural component of Germany’s coordinated market economy is a functionally networked state that operates incrementally and through negotiation (Czada 2000), and employs initiatives to steer the adjustment of the overall political and economic system so as to stay in step with political and social change. Employee relations is another aspect where liberal and coordinated market economies differ from each-other on fundamental level, and therefore , this issue needs to be clarified for NewAge-Bio for decision making. For instance, in liberal economy, US coordination and negotiations of industrial relations are limited only to a company level whereas in Germany, industrial relations are based on the notion of collective bargaining that is underta… In coordinated market economies (CMEs), interlocking ties between business, labor, and skills acquisition systems insulate policymakers from voters. They are also characterized by a relatively decentralized system of industrial relations, with collective bargaining taking place at enterprise or workplace level (Soskice, 1… From this perspective locating NewAge-Bio Research and Development Centre in Germany is more suitable option because the management will find the workforce with specific skills in biotechnology industry there, the workforce will be taught specific skills required to succeed in NewAge-Bio, and the workers will remain with the company for a longer period of time. Secondly, in the US there would be greater inequality in various aspects of NewAge-Bio Research and Development Centre industrial relations practice, because this practice will be guided only by the rules of free market economy. Moreover, the company has an opportunity to teach NewAge-Bio company specific skills to that workforce and use the services of the workforce for an extended period of time. Specifically, biotechnology is a type of industry where competitive edge is gained and the market share is sustained and increased through being highly innovative. Fourthly, NewAge-Bio will benefit from inter-company relations if the Research and Development Centre is opened in Germany compared to no effective relationships among US companies. ECPR Standing Group Regulatory Governance: (Re)-Regulation in the Wake of Neoliberalism, Utrecht, 05. bis 07. Integrating China: Towards the Coordinated Market Economy (China in the 21st Century) First Edition, First ed. Integrating China: Towards the Coordinated Market Economy: Transition into Global Economy (Anthem Studies in Development and Globalization) | Peter Nolan | ISBN: 9781843312376 | Kostenloser Versand für alle Bücher mit Versand und Verkauf duch Amazon. 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