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Constructing Capitalisms - Transforming Business Systems in Central and Eastern Europe (Hardcover)
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Constructing Capitalisms - Transforming Business Systems in Central and Eastern Europe (Hardcover)
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The balance of economic power in Europe is shifting eastwards.
Poland, the Czech Republic, Hungary, and Romania have all seen
increases in their contributions to international trade and in the
rate of GDP growth, whilst other countries have seen declines, and
firms in these Central and Eastern European economies are becoming
increasingly influential participants in international production
systems, centred largely on Germany. This book presents an
up-to-date, theoretically informed analysis of how these four
countries have developed distinctive business systems since the
political revolutions that transformed this region in 1989,
combining the structures of liberal market capitalism established
in the 1990s with practices established earlier. Influenced by the
socialist inheritance of communism and increasingly diverse sources
of capital, different forms of capitalism developed, less
responsive to shareholder interests, and more responsive to
managerial and national strategic interests This book concentrates
on changing patterns of ownership and control, means of capital
accumulation, the relations among multinationals, regional
enterprises, and governments, and the role of the state. Whilst
recognizing the role of multinationals in generating export-led
growth, the book emphasizes the central role of government at
national and international level. The forms of capitalism under
construction differ from expectations common in the 1990s,
combining elements from both US/UK and continental European models
of capitalism.
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