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The Market for Institutions vs. Capitalism by Fiat: The Case of Eastern Europe

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  • Pejovich, Svetozar

Abstract

This paper considers why procollectivist parties are winning free elections in many East European states. Analysis shows that the transition process imposed some institutions of capitalism with little regard for the region's philosophical heritage, the way East Europeans perceived capitalism before 1989, the importance that well-defined groups attach to assets that are specific to the old system, and the role of local leaders in exploiting nationalism. By identifying the results of exogenous institutional changes with capitalism, East Europeans are voting free-market parties out of power. Copyright 1994 by WWZ and Helbing & Lichtenhahn Verlag AG

Suggested Citation

  • Pejovich, Svetozar, 1994. "The Market for Institutions vs. Capitalism by Fiat: The Case of Eastern Europe," Kyklos, Wiley Blackwell, vol. 47(4), pages 519-529.
    • Handle: RePEc:bla:kyklos:v:47:y:1994:i:4:p:519-29
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    Cited by:

    1. Volodymyr Semtsov, 2018. "Dissemination of Institutional Changes: Internal Planning, Import and Spontaneous Formation," Oblik i finansi, Institute of Accounting and Finance, issue 2, pages 130-140, June.
    2. Pejovich Svetozar, 2001. "After Socialism: Where Hope for Individual Liberty Lies," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 11(1), pages 1-24, March.
    3. Carlos Esteban Posada, 1998. "Los mercados de instituciones y las instituciones endogenas," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 48, pages 149-168, Enero Jun.
    4. Judit KAPà S & Pál CZEGLÉDI, 2007. "What Does Transition Mean?: Post-socialist and Western European Countries Paralleled," The Journal of Comparative Economic Studies (JCES), The Japanese Society for Comparative Economic Studies (JSCES), vol. 3, pages 3-28, December.
    5. Grigoryev, Leonid, 2015. "The elites’ demand for law: “Overcrowded streetcar (tram) effect”," Russian Journal of Economics, Elsevier, vol. 1(3), pages 313-327.
    6. Adam Okulicz-Kozaryn, 2014. "Winners and Losers in Transition: Preferences for Redistribution and Nostalgia for Communism in Eastern Europe," Kyklos, Wiley Blackwell, vol. 67(3), pages 447-461, August.
    7. Marcus Matthias Keupp, 2021. "Institutions and Armed Forces," Springer Books, in: Defense Economics, chapter 0, pages 23-65, Springer.
    8. Varshaver, Evgeniy (Варшавер, Евгений) & Kruglova, Ekaterina (Круглова, Екатерина), 2015. ""Coalition clinch" against the Islamic order: the dynamics of market institutions dispute resolution in Dagestan [«Коалиционный Клинч» Против Исламского Порядка: Динамика Рынка Институтов," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 3, pages 89-112.
    9. Peter J. Boettke & Ennio Piano, 2016. "Baumol’s productive and unproductive entrepreneurship after 25 years," Journal of Entrepreneurship and Public Policy, Emerald Group Publishing Limited, vol. 5(2), pages 130-144, August.

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