Large-Scale Transition of Economic Systems – Do CEECs Converge Toward Western Prototypes?

Markus Ahlborn (), Joachim Ahrens () and Rainer Schweickert
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Markus Ahlborn: PFH Göttingen
Joachim Ahrens: PFH Göttingen

Comparative Economic Studies, 2016, vol. 58, issue 3, No 7, 430-454

Abstract: Abstract We analyze potential convergence of Central and Eastern European Countries’ (CEECs) economic systems toward western prototypes. The corresponding comparative capitalism literature identified four prototype economic systems among (traditional) OECD countries: Liberal, Continental, Nordic, and Mediterranean. Based on a comprehensive macroeconomic cluster approach, we are able to confirm these prototype country clusters. At the same time, our results indicate that the economic systems of CEECs have still not completely converged toward these prototypes, but complement them by independent Liberal (CEEC LME) and Continental/Nordic (CEEC CME) varieties, showing no signs of convergence toward the inconsistent and underperforming economic system of Mediterranean countries.

Keywords: varieties of capitalism; worlds of welfare states; government spending; regulation; cluster analysis; transition; economic systems; CEECs (search for similar items in EconPapers)
JEL-codes: H10 P10 P51 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (10)

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Related works:
Working Paper: Large-scale transition of economic systems: Do CEECs converge towards western prototypes? (2016)
Working Paper: Large-scale transition of economic systems: Do CEECs converge towards Western prototypes? (2014)
Working Paper: Large-scale transition of economic systems: Do CEECs converge towards western prototypes? (2014)
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DOI: 10.1057/s41294-016-0009-x

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