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Large-Scale Transition of Economic Systems – Do CEECs Converge Toward Western Prototypes?

Author

Listed:
  • Markus Ahlborn

    () (PFH Göttingen)

  • Joachim Ahrens

    () (PFH Göttingen)

  • Rainer Schweickert

    () (Kiel Institute for the World Economy)

Abstract

Abstract We analyze potential convergence of Central and Eastern European Countries’ (CEECs) economic systems toward western prototypes. The corresponding comparative capitalism literature identified four prototype economic systems among (traditional) OECD countries: Liberal, Continental, Nordic, and Mediterranean. Based on a comprehensive macroeconomic cluster approach, we are able to confirm these prototype country clusters. At the same time, our results indicate that the economic systems of CEECs have still not completely converged toward these prototypes, but complement them by independent Liberal (CEEC LME) and Continental/Nordic (CEEC CME) varieties, showing no signs of convergence toward the inconsistent and underperforming economic system of Mediterranean countries.

Suggested Citation

  • Markus Ahlborn & Joachim Ahrens & Rainer Schweickert, 2016. "Large-Scale Transition of Economic Systems – Do CEECs Converge Toward Western Prototypes?," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 58(3), pages 430-454, September.
  • Handle: RePEc:pal:compes:v:58:y:2016:i:3:d:10.1057_s41294-016-0009-x
    DOI: 10.1057/s41294-016-0009-x
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    References listed on IDEAS

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    1. Federico Foders & Daniel Piazolo & Rainer Schweickert, 2002. "Ready to Join the EU?," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 3(4), pages 43-72, October.
    2. Pryor, Frederic L., 2005. "Market economic systems," Journal of Comparative Economics, Elsevier, vol. 33(1), pages 25-46, March.
    3. Acemoglu, Daron & Robinson, James A & Verdier, Thierry, 2012. "Can't We All Be More Like Scandinavians? Asymmetric Growth and Institutions in an Interdependent World," CEPR Discussion Papers 9113, C.E.P.R. Discussion Papers.
    4. Frederic L Pryor, 2006. "Economic Systems of Developing Nations," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 48(1), pages 77-99, March.
    5. Beata Farkas, 2011. "The Central and Eastern European model of capitalism," Post-Communist Economies, Taylor & Francis Journals, vol. 23(1), pages 15-34.
    6. Amable, Bruno, 2003. "The Diversity of Modern Capitalism," OUP Catalogue, Oxford University Press, number 9780199261147.
    7. Amable, Bruno & Azizi, Karim, 2011. "Varieties of capitalism and varieties of macroeconomic policy. Are some economies more procyclical than others?," MPIfG Discussion Paper 11/6, Max Planck Institute for the Study of Societies.
    8. Ahlquist, John S. & Breunig, Christian, 2009. "Country clustering in comparative political economy," MPIfG Discussion Paper 09/5, Max Planck Institute for the Study of Societies.
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    Cited by:

    1. repec:kap:iecepo:v:15:y:2018:i:2:d:10.1007_s10368-017-0396-0 is not listed on IDEAS
    2. Ahlborn, Markus & Schweickert, Rainer, 2017. "Economic systems in developing countries: A macro cluster approach," Kiel Working Papers 2089, Kiel Institute for the World Economy (IfW).
    3. Wrobel, Ralph, 2015. "From independence to the Euro introduction: varieties of capitalism in the Baltic States," EconStor Open Access Articles, ZBW - German National Library of Economics, pages 9-38.
    4. Markus Ahlborn & Rainer Schweickert, 2018. "Public debt and economic growth – economic systems matter," International Economics and Economic Policy, Springer, vol. 15(2), pages 373-403, April.
    5. Esther Ademmer & Joscha Beckmann & Rainer Schweickert, 2014. "Large-scale Transformations of Socio-economic Institutions," WWWforEurope Working Papers series 75, WWWforEurope.

    More about this item

    Keywords

    varieties of capitalism; worlds of welfare states; government spending; regulation; cluster analysis; transition; economic systems; CEECs;

    JEL classification:

    • H10 - Public Economics - - Structure and Scope of Government - - - General
    • P10 - Economic Systems - - Capitalist Systems - - - General
    • P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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