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Emerging Varieties of Capitalism in Transition Countries: Literature Review

Abstract

The systemic transformation of post-socialist countries from central planning to a market economy was a very complex and unprecedented undertaking. In this study we critically examine three influential classifications proposed by Coates [2000, 2006], Hall and Soskice [2001], and Amable [2003], within the “comparative capitalisms” literature stream, and argue that they are unsuitable for evaluating the progress made by transition economies since 1990. The basis of the criticism stems from timing: these theoretical frameworks were developed primarily to evaluate the growth of advanced and mature capitalist countries. Thus, they fail to capture the unique features of transition economies and the complexity of the transformation process that led to the emergence of different market-based systems. From this vantage point, we discusses and also critique a recent classification developed by Myant and Drahokoupil [2011, 2015], who distinguish five ideal models (i.e. “varieties of capitalism”) that have evolved within transition countries. In our conclusion we point to areas within the field that may be explored by future research.

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Post-socialist Myanmar and the East Asian Development Model

1 Introduction The post-socialist transformation in Myanmar/ Burma began, as in Central and Eastern Europe, in the late 1980s. Nevertheless, the first stage of reforms (1988–2011) did not result in the creation of an open free market economy. In addition, there was no political liberalisation. The dynamics of changes – political and economic – increased in 2011. In the period 2011–2015, there was a significant acceleration of systemic transformation. In November 2015, partly free parliamentary elections were held and one of the leaders of the democratic

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Beta Stability Over Bull and Bear Market on the Warsaw Stock Exchange

Abstract

Beta parameter is one of the commonly used measures of the investment risk of individual stock or portfolio. It plays a crucial role in modern portfolio theory particularly in management of financial investment portfolios. In the field of beta parameter, numerous studies have been conducted, especially beta properties stability in the context of the stock market cycle phases, measuring frequency of rate of return, and the length of a sample period. There are much fewer studies concerned beta parameter in the countries of Central and Eastern Europe which have undergone systemic transformation at the end of the previous century. From a scientific point of view, it is interesting to know how the beta parameter behaves in these countries.

The main goal of this article is to examine the beta parameter stability over bull and bear market conditions on the Warsaw Stock Exchange. The paper presents an analysis of beta stability for 134 stocks of the largest companies listed at the WSE during years 2005–2013. To verify statistically the hypothesis of beta parameter stability, we used monthly returns in the Sharpe’s single-index model. In the first part of the article, we present a brief review of the literature and methodology of the study, while in the second part, the obtained results and conclusions are shown.

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The premises of the development of the private sector in Poland - some conclusions

The premises of the development of the private sector in Poland - some conclusions

Processes of transformation in companies or more broadly the economic transformation is a part if a wider process of the systemic transformation. Within this process, a special place is held by the political system, although it should be remembered that these are changes in the economic system which will ultimately determine a success or failure of occurring changes. Parallel, there must be taking place changes in the social structure. These must both consolidate new structures or force out a slowdown in the speed of occurring changes, as well as demand a restoration of old solutions. In a longer time perspective, the preserving of political power will depend on the remodeling of economic system in accordance with the assumed conception, because any significant changes in this system may pave the way for the strengthening of political system. Hence, the speed of occurring transformations plays also an important role here.

All this shows that the speed of changes. in the economy must be particularly well balanced and adapted to a concrete situation. Changes in social structures will be taking place at a similar speed enlarging various groups of persons interested in transformation processes. The transformation process will be successful if the main part of the society accepts the system of values corresponding to the new social system. The success of the deep restructuring of economic relations in our economy depends primarily on the effectiveness of the reform aimed to restructuring of ownership in all sectors. This requires a new approach to the prospects of private property growth, i.e. an approach unbiased by any doctrinal prejudices, as well as suggestions glorifying private property as a panacea to cure Poland's economy. The Polish economy is characterised both by objective and subjective premises in the development of the private sector and a strong motivation of individuals to launch their own business activities in this sector.

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Trade Flows between Czech Republic and East Asia

-443. DOI: 10.1080/09592290701322606. WEF (2012). The Global Competitiveness Report 2012-2013 . Geneva: World Economic Forum. WESTERNHAGEN, N. (2002). Systemic Transformation, Trade and Economic Growth: Developments, Theoretical Analysis and Empirical Results . Heidelberg: Physica-Verlag.

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Eurasianism and the Far Right in Central and Southeast Europe

Abstract

This article focuses on Eurasianism as an ideological trend with a political appeal beyond the post-Soviet space. It demonstrates that the roles envisioned for the ‘Trojan horses’ of Eurasianism among the far right in Central/Southeast Europe and for Eurasianism’s sympathizers in Western Europe bear a qualitative difference. In the former case, the emphasis is on systemic transformation whereas, in the latter case, on a gradualist strategy.

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Efficiency of public sector enterprises in conditions of crisis

Abstract

The systemic transformation in Poland, aimed, among others, at activating market mechanisms, has resulted in a change in the ownership structure and privatization that has accompanied it. Privatization processes are commonly considered to be principally motivated by an increase in efficiency of the economy based on the assumption that efficiency of private enterprises is higher than that of public sector ones. The main aim of the article is to verify the above hypothesis. An analysis of efficiency of public and private sector enterprises, taking into account their organizational and legal forms, made on the basis of Central Statistical Office information, confirmed the above hypothesis. Private enterprises use their assets better and take advantage of the financial leverage mechanism to a larger extent. It should be emphasized, however, that private enterprises are more adversely affected by economic fluctuations caused by the crisis.

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A Range and Reasons of Farmland Withdrawal from Agricultural Use in Poland

Abstract

The aim of this paper was to analyze reasons and a range of changes in agricultural land areas due to allocation them for non-agricultural purposes across a period of 1990-2015 in Poland. This phenomena has not been sufficiently considered till now. Lack of this knowledge does not allow effective reduction of the decline of agricultural land by appropriate legislation and administrative action, especially on urban areas. In Poland, a significant proportion of agricultural land is allocated annually for non-agricultural purposes, which is connected with their permanent withdrawal from agricultural production. The permanent decline in the area of agricultural land in the country has been observed since the beginning of the systemic transformation. The dominant direction of the land withdrawal for non-agricultural purposes is their allocation to housing construction. In 1995 the Law on the protection of agricultural and forest land was introduced. This law includes strengthened economic tools for the protection of agricultural land in the form of mandatory charges for the withdrawal of agricultural land showing the best soil quality. This has led to a significant reduction in agricultural land use withdrawal. However, accelerated regional development following the accession of Poland to the EU and, then, the need to expand technical infrastructure resulted in several amendments to the 1995 Act, significantly weakened the protection of agricultural and forest land. It seems that the land as the unrepeatable good should be strictly covered by more respect and protection than ever before, especially in areas with the highest production value.

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Risks and Actual Warnings Specific to the Security Environment

Abstract

We need a brief assessment of the international security environment in order to have a more realistic picture of the world we live in, having the perspective of threats, risks and vulnerabilities. The current and future security environment is characterized, among other things, by its complexity of actors, dynamism of threats as a result of the rethinking of the political-military postures of some states with military potential ore emerging states and non-state actors. In the foreseeable future, the security environment will continue to be influenced by multiple challenges, risks and threats, caused by the globalization phenomenon and political, economic, military and technological interdependencies which can provoke strategic surprises. The European area is in a continuous process of transformation with strategic implications. The systemic transformation will affect the European states and their adjacent regions visibly but distinctly, but the impact on European and Romanian security will be differentiated in the long run.

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Emerging models of patchwork capitalism in Central and Eastern Europe: empirical results of subspace clustering

, made 2 years earlier by Hall and Soskice [2001] . For more details, see Rapacki et al. [2016]. to the former socialist countries undergoing systemic transformation from a centrally planned economy toward a market-driven economy, with an end to explain and better understand the nature of the emerging postcommunist capitalism there. Simultaneously, based on the original methodology, some attempts have also been made to take account of institutional peculiarities inherent in the postcommunist transition and to extend the existing standard classifications with

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