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From market economics to institutional embedness of economic development: key ethical issues for transition societies

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  • Konstantinos Hazakis

Abstract

The debate over the role of ethics in transition economies is part of a larger debate concerning the interaction of state and markets in East Europe. This paper demonstrates the suitability of the institutional approach and the methodological disadvantages of the neoclassical theory concerning the key issues of this debate. It is suggested that transition economies need not to provide dichotomy between the end and the means of economic policies but rather need to reflect ethically how market and institutions interact efficiently, targeting in general economic and social welfare.

Suggested Citation

  • Konstantinos Hazakis, 2010. "From market economics to institutional embedness of economic development: key ethical issues for transition societies," International Journal of Economic Policy in Emerging Economies, Inderscience Enterprises Ltd, vol. 3(4), pages 385-397.
    • Handle: RePEc:ids:ijepee:v:3:y:2010:i:4:p:385-397
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    Cited by:

    1. Ioannidis, Panos, 2015. "Από Τον Καποδίστρια Στον Καλλικράτη: Θεσμικές Μεταρρυθμίσεις Της Τοπικής Αυτοδιοίκησης Και Συνεργατικές Στρατηγικές Στην Ανατολική Μακεδονία Και Θράκη [From Kapodistrias to Kallikrates: Local Gover," MPRA Paper 66614, University Library of Munich, Germany.
    2. Pantelis Sklias, 2011. "The political economy of regional integration in the Western Balkans," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 4(3), pages 21-37, December.
    3. Rongjun Long & Wei Lang & Xun Li, 2020. "Does Institutional Embeddedness Promote Regional Enterprises’ Migration? An Empirical Analysis Based on the “Double Transfer” Strategy in Guangdong, China," Sustainability, MDPI, vol. 12(7), pages 1-21, April.

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