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Constructing Capitalisms – Transforming Business Systems in Central and Eastern Europe - Oxford Scholarship Online
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Constructing Capitalisms: Transforming Business Systems in Central and Eastern Europe

Roderick Martin


This book examines the construction of capitalisms in Poland, the Czech Republic, Hungary, and Romania after 1989, within a national business systems framework. Four elements of capitalism are analysed—property ownership, capital accumulation, production relations (specifically, international), and relations between the state and the economy. This book shows how the capitalisms constructed did not match the expectations of the early 1990s. Economic assets were privatized, but the exercise of shareholders’ rights was more limited in practice than in shareholder value theory. Blockholders domina ... More

Keywords: business culture, convergence, germany, institutional arrangements, liberal market capitalism, market failure, physical assets, socialist economic legacy, system integration, washington consensus

Bibliographic Information

Print publication date: 2013 Print ISBN-13: 9780199657667
Published to Oxford Scholarship Online: May 2013 DOI:10.1093/acprof:oso/9780199657667.001.0001


Affiliations are at time of print publication.

Roderick Martin, author
Leverhulme Emeritus Professor, and formerly of Trinity College, University of Oxford