Neoliberalism, embedded neoliberalism and neocorporatism: Towards transnational capitalism in Central-Eastern Europe

Abstract

This article analyses the key features and origins of three variants of transnational capitalism emerging in Central-Eastern Europe: a neoliberal type in the Baltic states, an embedded neoliberal type in the Visegrád states, and a neocorporatist type in Slovenia. These regimes are characterised by their institutions and performances in marketisation, industrial transformation, social inclusion, and macroeconomic stability. Explanations for regime diversity are developed at two levels. First, it is argued that the legacies of the past, and their perceptions as either threats or assets to these countries' future, have had deep impact on regime types. Legacies and initial choices were no less crucial for the degree of democratic inclusion, and the different patterns of protest and patience on the paths towards the new regimes. Second, the article demonstrates the importance of transnational influences in industrial transformation and social inclusion.

Acknowledgements

Gregory Luebbert's path-breaking book (1991) gave us ideas and inspiration for our study. We thank an anonymous reviewer for very helpful comments. We also gained much from discussions of earlier versions of our paper at the Comparative Politics Workshop ‘Post-Communist Political Economy and Democratic Politics’ in the Department of Political Science at Duke University, and at the Varieties of Transnational Capitalism Doctoral Seminar at the Central European University. Our special thanks for criticism and encouragement go to Attila Ágh, László Bruszt, László Csaba, Klaus Goetz, Bob Hancké, Herbert Kitschelt, Zdenek Kudrna, and Ádám Török.