Advanced Search
MyIDEAS: Login to save this article or follow this journal

Economy of post-Communist capitalism under the financial crisis

Contents:

Author Info

  • Vladimer Papava
Registered author(s):

    Abstract

    Purpose – The purpose of this paper is to distinguish the economic foundations of post-Communist capitalism and to examine the key economic problems of this type of society in the context of the modern financial crisis. Design/methodology/approach – This question is approached by studying the “necroeconomy” as a phenomenon of post-Communist capitalism and the international experience of the dead firms, so-called “zombie-firms”, which do exist and “successfully” function in the most developed of economies as well with Japan being the most obvious example. Unlike developed economies, which are exposed to the threat of the zombie-ing of the economy under the conditions of a financial crisis, this threat is even greater for the countries of post-Communist capitalism owing also to their exposure to necroeconomy. Findings – It is found that the financial crisis creates the favourable conditions for the zombie-ing of a necroeconomy. If in Japan, for example, the zombie-economy never touched the processing industries, then one of the qualities of the necroeconomy is to concentrate exactly upon this sector of the economy. The zombie-ing of a necroeconomy inevitably amounts to the zombie-ing of this already-dead sector as well. Originality/value – The value of the paper is to determine the carriers of the necroeconomic and zombie-economic routines – Homo Transformaticus and Zombie Economicus, respectively. The contemporary financial crisis creates the danger of the transformation of Homo Transformaticus into a Zombie Economicus.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.emeraldinsight.com/journals.htm?issn=1086-7376&volume=27&issue=2&articleid=1864180&show=abstract
    Download Restriction: Cannot be freely downloaded

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Bibliographic Info

    Article provided by Emerald Group Publishing in its journal Studies in Economics and Finance.

    Volume (Year): 27 (2010)
    Issue (Month): 2 (June)
    Pages: 135-147

    as in new window
    Handle: RePEc:eme:sefpps:v:27:y:2010:i:2:p:135-147

    Contact details of provider:
    Web page: http://www.emeraldinsight.com

    Order Information:
    Postal: Emerald Group Publishing, Howard House, Wagon Lane, Bingley, BD16 1WA, UK
    Email:
    Web: http://www.emeraldinsight.com/sef.htm

    Related research

    Keywords: Capitalism; Market economy; Marxist economics; World economy;

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:eme:sefpps:v:27:y:2010:i:2:p:135-147. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Louise Lister).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.