Patchwork Capitalism and Economic Development Trajectories of CEE11 Countries in 2004–2022

Ryszard Rapacki, Piotr Maszczyk, Maria Lissowska, Mariusz Próchniak and Aleksander Sulejewicz

Eastern European Economics, 2025, vol. 63, issue 6, 845-874

Abstract: This paper is a comparative empirical study of the institutions (models of capitalism)-economic performance nexus in 2004–2022, in 11 new CEE EU members, embodying the model of patchwork capitalism. The analysis covers two major areas of economic performance: economic growth (real convergence) and macroeconomic equilibrium. It encompasses the entire European Union (EU28), with special emphasis on four co-existing models of Western European capitalism. Our results indicate that patchwork capitalism outperforms the remaining models in economic growth and real convergence. It reveals though low resilience to adverse exogenous shocks and generates high economic and non-economic costs of protecting growth and convergence.

Date: 2025
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DOI: 10.1080/00128775.2025.2499043

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