Variability Factors for Socio-economic Models in Developed Democracies

Socio-economic models of developed democracies differ significantly from each other. Countries have a choice of mixed or hybrid socio-economic models between the two extremes, yet there is still no universally agreed classification of socio-economic models. The purpose of this research is to propose a new classification of socio-economic models in developed democracies and to identify fundamental variables that determine them. A dataset will be compiled to develop a new data-driven typology of socioeconomic models and to empirically test the hypotheses of this study. We expect this study to contribute to the literature on welfare state regimes by generalizing the typologies and conclusions of previous studies and by proposing a new classification. In checking the significance of the fundamental variables, we will primarily focus on the degree of ethnic heterogeneity and degree of institutional development.