Dependent Capitalism

Eric Magnin () and Nikolay Nenovsky ()
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Eric Magnin: University Paris Cité

Chapter Chapter 3 in Diversity of Capitalism in Central and Eastern Europe, 2022, pp 37-55 from Springer

Abstract: Abstract For some authors presented in the previous chapter, the post-socialist transformation has led to the emergence of a form of dependent capitalism. This hypothesis gained in relevance during the 2000s. The purpose of this chapter is to present the model of dependent capitalism. The concept of dependence initially refers to the 1960s and 1970s research on Latin America within a Marxist theoretical framework. It is then used to designate «peripheral» economies whose growth depends on the decisions of actors belonging to the hegemonic «centre». However, it reappears today to qualify CEE economies in a theoretical and historical context that is very different from that of this original filiation. From a theoretical point of view, it can be considered at first glance as an extension of the VoC approach applied to the CEECs. Moreover, the 2008 financial crisis acted as a revelation of CEECs’ vulnerabilities, related to outward-oriented growth models, and reinforced the relevance of an analysis in terms of dependent capitalism.

Keywords: Dependent capitalism; Dependency theories; Dependent development; Imperialism; Foreign direct investment; Dependent market economies (DMEs); (2008) Financial crisis (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-04950-7_3

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DOI: 10.1007/978-3-031-04950-7_3

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