Europeanization, Varieties of Capitalism and Economic Performance in Central and Eastern Europe

LUCIAN CERNAT is Economist at the United Nations Conference on Trade And Development (UNCTAD), Switzerland and Research Fellow at the University of Manchester, UK. He has published several articles on European and regional integration, transition economies, and trade issues. He co-edited Competition, Competitiveness, and Development: Lessons from Developing Countries and contributed to Can Regional Integration Arrangements Enforce Trade Discipline? The Story of EU Enlargement and Romania and the European Union: Inflation, Balance of Payments, Economic Growth.

• List of Figures List of Tables Preface List of Abbreviations INTRODUCTION PART 1: THEORETICAL CONSIDERATIONS State-Society Interaction and Interest Group Intermediation Varieties of Capitalism Theoretical Cross-Fertilizations: Globalization, Europeanization, and Policy Transfer PART 2: INSTITUTIONS AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPE: A QUANTITATIVE ANALYSIS Diverging Paths: Alternative Explanations Models of Capitalism and Economic Growth in Eastern Europe The Econometric Model, Results and Implications PART 3: DOMESTIC INSTITUTIONS AND ECONOMIC PERFORMANCE: 'COCKTAIL CAPITALISM' State-Industry Relations State-Labour Relations State-Finance Relations PART 4: EXTERNAL POLICY TRANSFER AND ECONOMIC GROWTH: RECONCEPTUALIZING EXTERNAL INFLUENCES Institutionalized Globalization and Policy Transfer: Carrot and Stick Policies The Europeanization of Central and East European Countries: Main Policy Transfer Elements Empirical Testing PART 5: EXTERNAL FACTORS AND MODELS OF CAPITALISM: THE ROMANIAN EXPERIENCE The Impact of the Europeanization Process The Impact of International Monetary Fund on Domestic Institutions in Romania: Aid, Conditionality and Policy Transfer The World Bank: Between Anglo-Saxon Capitalism and Mezzo-Corporatism CONCLUSIONS Notes Bibliography Index

'Lucian Cernat's original analysis combines political economy insights with rigorous economic modelling to explain the influence of external factors (the EU, World Bank, IMF) and domestic interests on the emerging varieties of capitalism and their impact on economic performance in CEECs.' - Dr. Peter Holmes, Jean Monnet Reader in Economics, University of Sussex, UK 'Cernat provides a precise understanding of how external influences, and in particular the Europeanization process, combine with domestic political interests to shape economic institutions and development in CEECs. The book shows how badly wrong the transition to capitalism can go when incoherent reforms are pursued. Such 'worst-case' scenarios have important lessons for policy makers involved in EU enlargement and in promoting such reforms in other emerging market economies.' - Prof. Martin Rhodes, European University Institute, Italy '...[Cernat's] declared aim is to carry out the first detailed analysis of the 'Europeanization' of the former communist countries that joined the European Union in the first wave of eastern enlargement in 2004 as well as an in-depth analysis of Romania's political and economic transformation after the overthrow of Ceausescus. To this end, his work is successful.' - International Affairs