Title Constructing capitalisms : transforming business systems in Central and Eastern Europe / by Roderick Martin

Published Oxford : Oxford University Press, 2013

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Description 1 online resource (xviii, 342 pages) : illustrations Contents Cover -- Contents -- List of tables -- List of abbreviations -- Introduction -- 1. Roads to capitalism : Alternative approaches to post-socialist capitalisms. 1.1. Introduction -- 1.2. Alternative models of capitalism -- 1.3. Neo-institutional theory -- 1.4. Post-socialist capitalisms -- 1.5. Path dependence -- 1.6. Conclusion -- 2. Poland, the Czech Republic, Hungary, and Romania : Political and economic contexts. 2.1. Introduction -- 2.2. Political contexts. 2.2.1. Poland -- 2.2.2. The Czech Republic -- 2.2.3. Hungary -- 2.2.4. Romania -- 2.3. Economic contexts. 2.3.1. Economic performance -- 2.3.2. Economic structure -- 2.3.3. Employment -- 2.3.4. Unemployment -- 2.3.5. Income inequality -- 2.3.6. Education -- 2.3.7. Innovation -- 2.3.8. The financial crisis 2008-11 -- 2.4. Summary and conclusion -- 3. Ownership transformation. 3.1. Introduction -- 3.2. Changes in property ownership regimes under socialism. 3.2.1. State and collective ownership -- 3.2.2. Private ownership -- 3.3. Transforming property ownership regimes. 3.3.1. Setting the agenda -- 3.3.2. Implementing the agenda -- 3.3.3. Changes in property ownership under post-socialism -- 3.4. Ownership and control. 3.4.1. The theory of real owners -- 3.4.2. Exit and investor engagement as means of controlling managers -- 3.5. De novo post-socialist enterprises -- 3.6. Summary and conclusion : Property ownership and post-socialist transformation -- 4. Capital accumulation. 4.1. Introduction -- 4.2. Banks. 4.2.1. Gradual institutional change -- 4.2.2. Growth of foreign ownership -- 4.2.3. Bank contribution to business finance -- 4.3. Capital markets -- 4.4. International capital investment. 4.4.1. National origin of international investment -- 4.4.2. FDI destinations -- 4.4.3. Sector distribution -- 4.4.4. Forms of FDI -- 4.5. Summary and conclusion -- 5. Poland, the Czech Republic, Hungary, and Romania in the international economy. 5.1. Introduction -- 5.2. International trade -- 5.3. The role of multinationals -- 5.4. Motor vehicles, electronics, clothing, and pharmaceuticals. 5.4.1. Motor vehicles -- 5.4.2. Electronics -- 5.4.3. Clothing -- 5.4.4. Pharmaceuticals -- 5.5. Multinationals and domestically owned enterprises -- 5.6. Summary and conclusion : Incorporating CEE into the global economy -- 6. The role of the state. 6.1. Introduction -- 6.2. Building the new economy : Governments and business systems -- 6.3. The state and business -- 6.4. The state and labour -- 6.5. Summary and conclusion -- 7. Segmented capitalisms : One business system or several? 7.1. Introduction -- 7.2. Segmented business systems : Hungary. 7.2.1. State segment -- 7.2.2. Privatized segment -- 7.2.3. De novo segment -- 7.2.4. International segment -- 7.3. Summary and conclusion : The emergence of segmented capitalisms -- 8. Managing labour. 8.1. Introduction -- 8.2. Institutional transformation. 8.2.1. Trade unions -- 8.2.2. Employers' organizations -- 8.2.3. Employment relations systems -- 8.2.4. Work organization -- 8.3. Management-labour relations : Labour weakness -- 8.4. Segmentation and employment relations -- 8.5. Summary and conclusion -- 9. Conclusion : Constructing capitalisms. 9.1. Introduction -- 9.2. Objectives and direction -- 9.3. The inheritance -- 9.4. Regime transformations. 9.4.1. Business system integration -- 9.4.2. Managerial and finance capitalisms -- 9.4.3. Governments and business systems -- 9.5. International influences -- 9.6. Types of capitalisms : Convergence? -- References -- Index Summary 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 Bibliography Includes bibliographical references and index Notes Print version record Subject Capitalism -- Europe, Central Capitalism -- Europe, Eastern International business enterprises -- Europe, Central International business enterprises -- Europe, Eastern Post-communism -- Europe, Central Post-communism -- Europe, Eastern BUSINESS & ECONOMICS -- Free Enterprise. Capitalism International business enterprises International economic relations Post-communism SUBJECT Europe, Central -- Foreign economic relations Europe, Eastern -- Foreign economic relations Subject Eastern Europe Central Europe Form Electronic book ISBN 9780191631948 0191631949 9781299356061 1299356060

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