This important, original book focuses on the transformation of economic systems in Central Europe. It provides a comprehensive overview of different theoretical approaches to transformation – neoclassical, post Keynesian and Austrian. In the light of this theoretical discussion, it reconsiders...

After the collapse of communism, the Central and Eastern European countries decided to implement a market economy embedded in a democratic order. A constituent element of the transition was a fully-fledged integration with the global economy. One of the consequences of this integration is that...

It is often stated that globalization makes a smaller world by institutional conver-gence. Economic orders become alike across the world. This article addresses institutional change triggered by the global financial crisis of 2008/2009 and challenges this general conviction of worldwide...