Constructing Capitalisms : Transforming Business Systems in Central and Eastern Europe

[BOOK DESCRIPTION]

This book provides an analysis of the changes in business systems of four Central and Eastern European countries - Poland, Hungary, the Czech Republic, and Romania - since the fall of Communism in 1989.

[TABLE OF CONTENTS]

        List of Tables                             xii
        List of Abbreviations                      xiv
Introduction                                       1  (7)
    1 Roads to capitalism: alternative             8  (30)
    approaches to post-socialist capitalisms
      1.1 Introduction                             8  (1)
      1.2 Alternative models of capitalism         9  (10)
      1.3 Neo-institutional theory                 19 (6)
      1.4 Post-socialist capitalisms               25 (7)
      1.5 Path dependence                          32 (4)
      1.6 Conclusion                               36 (2)
    2 Poland, the Czech Republic, Hungary, and     38 (28)
    Romania: political and economic contexts
      2.1 Introduction                             38 (2)
      2.2 Political contexts                       40 (12)
        2.2.1 Poland                               45 (2)
        2.2.2 The Czech Republic                   47 (1)
        2.2.3 Hungary                              48 (2)
        2.2.4 Romania                              50 (2)
      2.3 Economic contexts                        52 (11)
        2.3.1 Economic performance                 52 (2)
        2.3.2 Economic structure                   54 (1)
        2.3.3 Employment                           55 (1)
        2.3.4 Unemployment                         56 (2)
        2.3.5 Income inequality                    58 (1)
        2.3.6 Education                            59 (1)
        2.3.7 Innovation                           59 (2)
        2.3.8 The financial crisis 2008-11         61 (2)
      2.4 Summary and conclusion                   63 (3)
    3 Ownership transformation                     66 (50)
      3.1 Introduction                             66 (3)
      3.2 Changes in property ownership regimes    69 (10)
      under socialism
        3.2.1 State and collective ownership       70 (5)
        3.2.2 Private ownership                    75 (4)
      3.3 Transforming property ownership          79 (20)
      regimes
        3.3.1 Setting the agenda                   84 (1)
        Privatization: assets                      85 (1)
        Privatization: methods                     86 (1)
        Privatization: sequencing and timing       86 (2)
        Privatization: initiators and              88 (1)
        decision-makers
        Asset acquisition entitlements             89 (1)
        The role of foreign investment             89 (1)
        3.3.2 Implementing the agenda              90 (4)
        3.3.3 Changes in property ownership        94 (5)
        under post-socialism
      3.4 Ownership and control                    99 (6)
        3.4.1 The theory of real owners            99 (4)
        3.4.2 Exit and investor engagement as      103(2)
        means of controlling managers
      3.5 De novo post-socialist enterprises       105(3)
      3.6 Summary and conclusion: property         108(8)
      ownership and post-socialist
      transformation
    4 Capital accumulation                         116(33)
      4.1 Introduction                             116(4)
      4.2 Banks                                    120(11)
        4.2.1 Gradual institutional change         121(2)
        4.2.2 Growth of foreign ownership          123(5)
        4.2.3 Bank contribution to business        128(3)
        finance
      4.3 Capital markets                          131(8)
      4.4 International capital investment         139(7)
        4.4.1 National origin of international     141(1)
        investment
        4.4.2 FDI destinations                     142(2)
        4.4.3 Sector distribution                  144(1)
        4.4.4 Forms of FDI                         145(1)
      4.5 Summary and conclusion                   146(3)
    5 Poland, the Czech Republic, Hungary, and     149(49)
    Romania in the international economy
      5.1 Introduction                             149(2)
      5.2 International trade                      151(10)
      5.3 The role of multinationals               161(8)
      5.4 Motor vehicles, electronics,             169(21)
      clothing, and pharmaceuticals
        5.4.1 Motor vehicles                       170(5)
        5.4.2 Electronics                          175(7)
        5.4.3 Clothing                             182(4)
        5.4.4 Pharmaceuticals                      186(4)
      5.5 Multinationals and domestically owned    190(2)
      enterprises
      5.6 Summary and conclusion: incorporating    192(6)
      CEE into the global economy
    6 The role of the state                        198(23)
      6.1 Introduction                             198(4)
      6.2 Building the new economy: governments    202(8)
      and business systems
      6.3 The state and business                   210(4)
      6.4 The state and labour                     214(4)
      6.5 Summary and conclusion                   218(3)
    7 Segmented capitalisms: one business          221(22)
    system or several?
      7.1 Introduction                             221(6)
      7.2 Segmented business systems: Hungary      227(10)
        7.2.1 State segment                        228(2)
        7.2.2 Privatized segment                   230(1)
        7.2.3 De novo segment                      231(2)
        7.2.4 International segment                233(4)
      7.3 Summary and conclusion: the emergence    237(6)
      of segmented capitalisms
    8 Managing labour                              243(28)
      8.1 Introduction                             243(2)
      8.2 Institutional transformation             245(13)
        8.2.1 Trade unions                         246(5)
        8.2.2 Employers' organizations             251(1)
        8.2.3 Employment relations systems         252(4)
        8.2.4 Work organization                    256(2)
      8.3 Management-labour relations: labour      258(4)
      weakness
      8.4 Segmentation and employment relations    262(4)
      8.5 Summary and conclusion                   266(5)
    9 Conclusion: constructing capitalisms         271(29)
      9.1 Introduction                             271(1)
      9.2 Objectives and direction                 272(2)
      9.3 The inheritance                          274(5)
      9.4 Regime transformations                   279(12)
        9.4.1 Business system integration          281(2)
        9.4.2 Managerial and finance capitalisms   283(5)
        9.4.3 Governments and business systems     288(3)
      9.5 International influences                 291(5)
      9.6 Types of capitalisms: convergence?       296(4)
References                                         300(33)
Index                                              333