EAN: 9783031049521

DIVERSITY OF CAPITALISM IN CENTRAL AND EASTERN ...

This book explores the hypothesis of the emergence of a 'dependent capitalism' in Central and
Eastern Europe. In a first theoretical part  this book presents the main approaches that
structure the field of comparative capitalism and then examines this model shaped by the inflow
of foreign capital. In an original way  it proposes to integrate the form of the monetary
regime into the dependent capitalism analysis and to extend it to Balkan countries. The
monetary regime is seen as complementary to the other elements of the institutional
configuration of dependent capitalism. In the second part  the authors adopt a historical and
empirical perspective. First  they demonstrate how dependent capitalism has emerged in Central
and Eastern Europe and the Baltic States over the last 30 years as part of the process of
socio-economic transformation that began in 1990. The crisis of 2008 was an indicator of this
dependence on Western capital. Secondly  they extend the analysis to the Balkan countries and
show that dependence is even stronger for them  particularly in the monetary area  as evidenced
by the implementation of currency boards or euroization phenomena. This book is of interest to
academics and students  as well as to business and economic policy makers.

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