Constructing Capitalisms: Transforming Business Systems in Central and Eastern Europe

Lecturer: Roderick Martin

What, if anything, is 'special' about post socialist capitalisms in Central and Eastern Europe?  Following the varieties of capitalism tradition, the presentation considers the forms of capitalism developing in CEE from a neo-institutionalist perspective.  The business system is viewed as comprising four 'dimensions': property relations, capital accumulation, relations of production and the differentiation between the state and the economy.  CEE capitalisms are distinguished by managerial rather than shareholder value capitalism, despite formal commitment to the shareholder value philosophy characteristic of liberal market capitalisms.  A consequence is the lack of integration between different parts of the business system, with the potential for dualism.  Questions are raised about the possible effects of the lack of business system integration.

Brief biography:

Currently Research fellow, Centre for Policy Studies, transferred from Professor of Management, CEU Business School. Taught previously at Oxford: Fellow in Politics and Sociology, Trinity College, Oxford, 1969-84; Fellow in Information Management, Templeton College, Oxford, 1988-91. Imperial College, London, Professor of Industrial Sociology, 1984-88. University of Glasgow, Professor of Organisational Behaviour and Director, University of Glasgow Business School, 1991-99; Professor of Organisational Behaviour and Director, School of Management, University of Southampton, 1999-2005. Author of several books in industrial relations, industrial sociology and management, including most recently Investor Engagement:_Investors and Management Practice under Shareholder Value (Oxford University Press, 2007), and Transforming Management in Central and Eastern Europe (Oxford University Press, 1999). Author of over 60 academic papers, most recently Transferring Corporate Governance Codes: Form or Substance? Corporate Governance in Hungary (Europe-Asia Studies, Vol. 62 No.1, January 2010, 145-171).

Lecture slides (Download)