Market Economies of the Western Balkans Compared to the Central and Eastern European Model of Capitalism
Using the Central and Eastern European model of capitalism, this paper compares the market economies of the Western Balkan countries to the postsocialist European Union member states. It analyzes the main institutional areas of a socio-economic system such as product markets, innovation system, finan...
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doaj-df918b87d4d84252b3fb6ef69d8af0b42020-11-25T01:37:02ZengThe Institute of Economics, ZagrebCroatian Economic Survey1330-48601846-38782017-01-01191536Market Economies of the Western Balkans Compared to the Central and Eastern European Model of Capitalism Beáta Farkas0The Institute of Finance and International Economic Relations, University of Szeged, HungaryUsing the Central and Eastern European model of capitalism, this paper compares the market economies of the Western Balkan countries to the postsocialist European Union member states. It analyzes the main institutional areas of a socio-economic system such as product markets, innovation system, financial system, labor market and industrial relations, social protection and the educational system. The comparison of institutional systems does not provide an unambiguous answer to the question of whether the Western Balkan market economies fit into the model. There are many similarities between the institutional arrangements of the two regions, and the differences seem to be a consequence of delayed reforms rather than of an alternative model. However, the question of whether the current differences will be institutionalized or whether they will create a new normality—a new, distinct model of capitalism—remains open. http://hrcak.srce.hr/file/272126Central and Eastern European model of capitalismeconomic transformationWestern Balkansinstitutional comparison |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Beáta Farkas |
spellingShingle |
Beáta Farkas Market Economies of the Western Balkans Compared to the Central and Eastern European Model of Capitalism Croatian Economic Survey Central and Eastern European model of capitalism economic transformation Western Balkans institutional comparison |
author_facet |
Beáta Farkas |
author_sort |
Beáta Farkas |
title |
Market Economies of the Western Balkans Compared to the Central and Eastern European Model of Capitalism
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title_short |
Market Economies of the Western Balkans Compared to the Central and Eastern European Model of Capitalism
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title_full |
Market Economies of the Western Balkans Compared to the Central and Eastern European Model of Capitalism
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title_fullStr |
Market Economies of the Western Balkans Compared to the Central and Eastern European Model of Capitalism
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title_full_unstemmed |
Market Economies of the Western Balkans Compared to the Central and Eastern European Model of Capitalism
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title_sort |
market economies of the western balkans compared to the central and eastern european model of capitalism |
publisher |
The Institute of Economics, Zagreb |
series |
Croatian Economic Survey |
issn |
1330-4860 1846-3878 |
publishDate |
2017-01-01 |
description |
Using the Central and Eastern European model of capitalism, this paper compares the market economies of the Western Balkan countries to the postsocialist European Union member states. It analyzes the main institutional areas of a socio-economic system such as product markets, innovation system, financial system, labor market and industrial relations, social protection and the educational system. The comparison of institutional systems does not provide an unambiguous answer to the question of whether the Western Balkan market economies fit into the model. There are many similarities between the institutional arrangements of the two regions, and the differences seem to be a consequence of delayed reforms rather than of an alternative model. However, the question of whether the current differences will be institutionalized or whether they will create a new normality—a new, distinct model of capitalism—remains open.
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topic |
Central and Eastern European model of capitalism economic transformation Western Balkans institutional comparison |
url |
http://hrcak.srce.hr/file/272126 |
work_keys_str_mv |
AT beatafarkas marketeconomiesofthewesternbalkanscomparedtothecentralandeasterneuropeanmodelofcapitalism |
_version_ |
1725060015998369792 |