-led capitalism as a benchmark and implicitly they diagnose the many imperfections of the Japanese, Korean or Chinese configurations … taking place in Asia, but unsolved past political conflicts do hinder the institutionalisation of these interdependencies"-- …

and Asia. The rise of emerging markets, both in Eastern Europe and in Asia, entailed encompassing institutional reform. In … analysing the extent to which there is institutional convergence, the article follows the approach of "Varieties of Capitalism …". This approach distinguishes two "ideal" types of capitalism: a liberal market economy and a coordinated market economy. In …