Miklós Szanyi: The Balkan model and the balkanization of East Central Europe. Working Paper No. 258.
East Central Europe (ECE) has shown marked flaws in its institutional system throughout its transition process compared to Western benchmarks. These weredeeper in the Balkan countries than in the Visegrad countries (V4). However from the mid-2000s and especially after the 2008 crisis, also V4 altered institution development path away from the benchmarks. The existing and increasing differences in the political and economic institutions of the ECE versions of the “transatlantic model of capitalism” and the failure of the comprehensive application, moreover the politically and socially easy U-turn in the development process of these countries can be explained with the existence of another local model of capitalism – the “Balkan model”.
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