This article uses the soft budget constraint (SBC) approach in order to explore an important facet of Romanian and Bulgarian economic reform experiences in the post-communist period. Comparative analysis framed on SBC lines reveals several major areas of convergence and divergence between the...

The notion that state capitalism (an economic system “in which the state functions as the leading economic actor and uses markets primarily for political gain”) is a new form of capitalism emerging in the global arena has been recently advanced by several authors. This paper explores the...

Despite its importance and its widespread employment in policymaking practice, the theoretical and epistemic foundations of institutional mapping have not been elaborated and its legitimacy is yet to be fully granted by the academic community. This paper is a contribution to this overdue effort....