This study analyses the relations between different types of institutional arrangements and their impact on socio-economic policy-making and performance. Consensus based versus conflict based institutional arrangements are contrasted. Institutional arrangements of consensus versus majoritarian democracy are used in the case of political decision-making. Institutional arrangements of corporatism compared to pluralism are used in the case of policy concertation among organised interests. Do these consensual institutions make a difference? The comparative analysis of this study shows that the...