haku: @indexterm nationalism / yhteensä: 20
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| Tekijä: | Pejovich, S. |
| Otsikko: | The market for institutions vs. capitalism by Fiat: The Case of Eastern Europe |
| Lehti: | Kyklos
1994 : VOL. 47:4, p. 519-529 |
| Asiasana: | CAPITALIST ECONOMIC SYSTEM MARKET ECONOMY NATIONALISATION DEMOCRACY NATIONALISM EUROPE, EAST |
| Kieli: | eng |
| Tiivistelmä: | The paper raises the question: Why are pro-collectivist par- ties winning free elections in many East European states? A- nalysis shows that the tra14nsition process 'imposed' some i stitutions of capitalism with little regard for the region's philosophical heritage, the way East Europeans perceived ca- pitalism before 1989, the importance that well-defined groups attach to assets that are specific to the old system, and the role of local leaders in exploiting nationalism. By identifying the results of exogenous institutional changes with capitalism, East Europeans are voting free-market par- ties out of power. The paper argues for an alternative ap- proach to institutional changes in Eastern Europe: the development of the market for institutions based on credible and stable legal system, equal protection of all property rights, and the freedom of exchange and contract. |
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