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The Balkans as a Hierarchical Market Economy

Author

Listed:
  • DÍAZ PEDROZA Jesús
  • SALINAS AGUILAR Doris Yazmin
  • SAUCEDO-ACOSTA Edgar J.

Abstract

The Balkan capitalism has been classified as: Coordinated, Liberal, Mediterranean and as a version of the region itself. Nevertheless, such classifications do not consider the hierarchical economy levels of the region, which for developing countries is a very important feature. Schneider classified the Latin American economies as hierarchical and points out such classification could be applied to middle-income economies of other regions of the world. The aim of the paper is to show that Balkan economies can be considered as hierarchical. To do that, we estimate a Hierarchical Economy index to both regions (Balkans and Latin America). Besides, we test the relationship between inequality and the hierarchical levels (suggested by Schneider). Results show Balkan economies can be classified as hierarchical, because their hierarchical economy indexes are similar to those presented by Latin American economies and there is a negative relationship between inequality and the hierarchical levels among middle-income countries.

Suggested Citation

  • DÍAZ PEDROZA Jesús & SALINAS AGUILAR Doris Yazmin & SAUCEDO-ACOSTA Edgar J., 2019. "The Balkans as a Hierarchical Market Economy," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 02, June.
    • Handle: RePEc:jis:ejistu:y:2019:i:02:id:431
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    References listed on IDEAS

    as
    1. Amable, Bruno, 2016. "Institutional complementarities in the dynamic comparative analysis of capitalism," Journal of Institutional Economics, Cambridge University Press, vol. 12(1), pages 79-103, March.
    2. Beata Farkas, 2011. "The Central and Eastern European model of capitalism," Post-Communist Economies, Taylor & Francis Journals, vol. 23(1), pages 15-34.
    3. Amable, Bruno, 2003. "The Diversity of Modern Capitalism," OUP Catalogue, Oxford University Press, number 9780199261147.
    4. Friedrich Schneider & Andreas Buehn & Claudio Montenegro, 2010. "New Estimates for the Shadow Economies all over the World," International Economic Journal, Taylor & Francis Journals, vol. 24(4), pages 443-461.
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    Cited by:

    1. Sara Casagrande & Bruno Dallago, 2024. "Exploring Global Economy Evolution: Clusters and Patterns," Economies, MDPI, vol. 12(2), pages 1-22, January.

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    More about this item

    Keywords

    hierarchical market economy; Balkans; Latin America; lack of competitiveness; inequality;
    All these keywords.

    JEL classification:

    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • P50 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - General

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