The Analysis of Institutional Environment in the Area of Product Market Competition in the New EU Member States: What Do the Data Say About the Models of Capitalism Emerging in the CEE Countries?
Journal Title: International Journal of Management and Economics - Year 2018, Vol 54, Issue 4
Abstract
The paper analyzes the institutional architecture and the effects of product market competition in 11 countries of Central and Eastern Europe (CEE). The aim of the research was to find out how similar or dissimilar are the CEE countries in the area of product market competition compared with the four models of capitalism prevailing in Western Europe: the Anglo-Saxon (liberal) model (the UK), the continental model (Germany), the Scandinavian (Nordic) model (Sweden), and the Mediterranean one (Spain). The research method involves calculations of the coefficients of similarity and the analysis of polygons, being the extension of our own concept of the hexagons of similarity. The dynamic approach adopted in this study allows to examine the path dependence in order to assess how the institutional environment evolved over time. The analysis indicates that almost all CEE countries were the most similar to the Mediterranean model of capitalism represented by Spain. However, the variety of results for the individual variables is also a proof that the model of capitalism prevailing in CEE in the area of product market competition may be called a patchwork capitalism.
Authors and Affiliations
Mariusz Próchniak
Keywords
Related Articles
- EP ID EP597171
- DOI 10.2478/ijme-2018-0029
- Views 47
- Downloads 0
R&D Activities in Oligopoly and Social Welfare
This paper analyzes the impact of R&D activities in an oligopoly on consumer surplus and social welfare. We use a two-stage model to analyze the behavior of duopolists at the research level, and in the final-product mark...
In Search of Apprehending Customers’ Value Perception
The article clarifies the concept of value for customer, demonstrates challenges related to the concept itself and its measurement and sheds new light on the consequences of conceptual and metric choices. The analysis fo...
Sustainability of fiscal policy in Poland in the period 2004–2017
The aim of this paper is to analyze fiscal sustainability in Poland after joining EU between 2004-2017. Unlike previous studies, which analyzed weak measures of fiscal sustainability, we analyze fiscal sustainability mea...
Word-Of-Mouth in Social Media. The Case of Polish Tourist Industry
The core objective of this paper is to determine the level of online dialogue in social media between the tourist industry leaders and their customers. This study applies sequential explanatory industry-representative co...
The Influence of Financial Market Development on Economic Growth in BRICS Countries
The debate about the influence of financial market development on economic growth has been ongoing for more than a century. Since Schumpeter [1912] wrote about the happenings on Lombard Street there has been growing inte...