ABSTRACT
This chapter aims to establish a basis for the Varieties of Capitalism (VoCs) in the developing world. It examines the convergence of capitalist types using the data from this research. The chapter begins with developing a typology of the VoCs in the Emerging Market Economies. It explores a set of questions focused on the VoC types, the outcomes they create for policy and, most importantly, if there is evidence for the convergence or divergence of capitalism. Markets are the implicitly or explicitly negotiated outcome of a social problem that sets out to define property rights, governance structures, rules of exchange and conceptions of control. Markets are the implicitly or explicitly negotiated outcome of a social problem that sets out to define property rights, governance structures, rules of exchange and conceptions of control. Hall and Soskice originally proposed two main ideal types, namely, Liberal Market Economies (LMEs) and Coordinated Market Economies (CME).
