IDEAS home Printed from https://ideas.repec.org/a/sae/amerec/v47y2003i2p40-51.html
   My bibliography  Save this article

Entrepreneurial Activities in a Veblenian Type Transition Economy

Author

Listed:
  • Anastassios D. Karayiannis
  • Allan E. Young

Abstract

In this paper we apply a Veblenian analysis to the development of specific entrepreneurial opportunities in the highly adverse world of present day transition economies. First, we utilize a Veblenian understanding of the nature of the institutional changes currently underway in these economies in order to see what light this can shed upon the transition process. We then seek to identify particular entrepreneurial opportunities in the production sector of transition economies that flow from the above Veblenian analysis. Additional entrepreneurial venture possibilities in the consumption and service sectors of transition economies that arise from a Veblenian perspective are then developed. Some cautionary public policy notes are also offered.

Suggested Citation

  • Anastassios D. Karayiannis & Allan E. Young, 2003. "Entrepreneurial Activities in a Veblenian Type Transition Economy," The American Economist, Sage Publications, vol. 47(2), pages 40-51, October.
    • Handle: RePEc:sae:amerec:v:47:y:2003:i:2:p:40-51
    DOI: 10.1177/056943450304700204
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/056943450304700204
    Download Restriction: no
    File URL: https://libkey.io/10.1177/056943450304700204?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Saul Estrin, 2002. "Competition and Corporate Governance in Transition," Journal of Economic Perspectives, American Economic Association, vol. 16(1), pages 101-124, Winter.
    2. Jeffry M. Netter & William L. Megginson, 2001. "From State to Market: A Survey of Empirical Studies on Privatization," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 321-389, June.
    3. Erik Berglof & Patrick Bolton, 2002. "The Great Divide and Beyond: Financial Architecture in Transition," Journal of Economic Perspectives, American Economic Association, vol. 16(1), pages 77-100, Winter.
    4. Jan Svejnar, 2002. "Transition Economies: Performance and Challenges," Journal of Economic Perspectives, American Economic Association, vol. 16(1), pages 3-28, Winter.
    5. Malcolm Rutherford, 1984. "Thorstein Veblen and the Processes of Institutional Change," History of Political Economy, Duke University Press, vol. 16(3), pages 331-348, Fall.
    6. Veblen, Thorstein, 1904. "Theory of Business Enterprise," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number veblen1904.
    7. Veblen, Thorstein, 1915. "Imperial Germany and The Industrial Revolution," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number veblen1915.
    8. Veblen, Thorstein, 1919. "The Vested Interests and the Common Man," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number veblen1919.
    9. Nellis, J., 1999. "Time to Rethink Privatization in Transition Economies?," Papers 38, World Bank - International Finance Corporation.
    10. Tito Boeri & Katherine Terrell, 2002. "Institutional Determinants of Labor Reallocation in Transition," Journal of Economic Perspectives, American Economic Association, vol. 16(1), pages 51-76, Winter.
    11. Thorstein Veblen, 1899. "Mr. Cummings's Strictures on "The Theory of the Leisure Class"," Journal of Political Economy, University of Chicago Press, vol. 8(1), pages 106-106.
    12. Veblen, Thorstein, 1899. "The Theory of the Leisure Class," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number veblen1899.
    13. Blanchflower, David G. & Oswald, Andrew & Stutzer, Alois, 2001. "Latent entrepreneurship across nations," European Economic Review, Elsevier, vol. 45(4-6), pages 680-691, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alexei Izyumov & Trista Claxon, 2009. "Models of Capitalism and Income Distribution in Transition Economies: A Comparative Perspective," Journal of Economic Issues, Taylor & Francis Journals, vol. 43(3), pages 733-758.
    2. Stillman, Steven, 2006. "Health and nutrition in Eastern Europe and the former Soviet Union during the decade of transition: A review of the literature," Economics & Human Biology, Elsevier, vol. 4(1), pages 104-146, January.
    3. Svejnar, Jan, 2007. "China in Light of the Performance of Central and East European Economies," CEPR Discussion Papers 6320, C.E.P.R. Discussion Papers.
    4. Zdravka Todorova, 2013. "Connecting social provisioning and functional finance in a post-Keynesian–Institutional analysis of the public sector," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(1), pages 61-75.
    5. Davanzati, Guglielmo Forges, 2018. "Structural change driven by institutions: Thorstein veblen revised," Structural Change and Economic Dynamics, Elsevier, vol. 45(C), pages 105-110.
    6. Gelbuda, Modestas & Meyer, Klaus E. & Delios, Andrew, 2008. "International business and institutional development in Central and Eastern Europe," Journal of International Management, Elsevier, vol. 14(1), pages 1-11, March.
    7. Clare Virginia Eby, 1998. "Veblen’s Assault on Time," Journal of Economic Issues, Taylor & Francis Journals, vol. 32(3), pages 689-707, September.
    8. Groenewegen, John, 2022. "Institutional form (blueprints) and institutional function (process): Theoretical reflections on property rights and land," Land Use Policy, Elsevier, vol. 121(C).
    9. Thorsten Beck & Luc Laeven, 2006. "Institution building and growth in transition economies," Journal of Economic Growth, Springer, vol. 11(2), pages 157-186, June.
    10. Bhaumik, Sumon Kumar & Estrin, Saul, 2007. "How transition paths differ: Enterprise performance in Russia and China," Journal of Development Economics, Elsevier, vol. 82(2), pages 374-392, March.
    11. Peter F. Orazem & Milan Vodopivec, 2009. "Do Market Pressures Induce Economic Efficiency? The Case of Slovenian Manufacturing, 1994–2001," Southern Economic Journal, John Wiley & Sons, vol. 76(2), pages 553-576, October.
    12. Sumon Bhaumik & Saul Estrin, 2003. "Why Transition Paths Differ: Russian and Chinese Enterprise Performance Compared," William Davidson Institute Working Papers Series 525, William Davidson Institute at the University of Michigan.
    13. Polona Domadenik & Janez Pra??nikar & Jan Svejnar, 2003. "Defensive and Strategic Restructuring of Firms during the Transition to a Market Economy," William Davidson Institute Working Papers Series 541, William Davidson Institute at the University of Michigan.
    14. Terutomo Ozawa, 2004. "Veblen’s Theories of “Latecomer Advantage” and “The Machine Process”: Relevancy for Flexible Production," Journal of Economic Issues, Taylor & Francis Journals, vol. 38(2), pages 379-388, June.
    15. Alexei Izyumov & John Vahaly, 2006. "New capital accumulation in transition economies: implications for capital-labor and capital-output ratios," Economic Change and Restructuring, Springer, vol. 39(1), pages 63-83, June.
    16. Serhat Kologlugil, 2016. "Thorstein Veblen's Darwinian framework and gene-culture coevolution theory," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 23(4), pages 641-672, August.
    17. Malcolm Rutherford, 2010. "Chicago Economics and Institutionalism," Chapters, in: Ross B. Emmett (ed.), The Elgar Companion to the Chicago School of Economics, chapter 2, Edward Elgar Publishing.
    18. Nuno Ornelas Martins, 2015. "Why is this ‘school’ called neoclassical economics? Classicism and neoclassicism in historical context," Working Papers de Economia (Economics Working Papers) 01, Católica Porto Business School, Universidade Católica Portuguesa.
    19. Saul Estrin & Jan Hanousek & Evzen Kocenda & Jan Svejnar, 2009. "The Effects of Privatization and Ownership in Transition Economies," Journal of Economic Literature, American Economic Association, vol. 47(3), pages 699-728, September.
    20. Asaftei, Gabriel & Parmeter, Christopher F., 2010. "Market power, EU integration and privatization: The case of Romania," Journal of Comparative Economics, Elsevier, vol. 38(3), pages 340-356, September.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:amerec:v:47:y:2003:i:2:p:40-51. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: http://journals.sagepub.com/home/aex .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.