East Central Europe in the Context of the Varieties of Capitalism Approach

Abstract

The article presents the Varieties of Capitalism theory proposed by Peter A. Hall and David Soskice in 2001 and its applicability in the context of East Central Europe’s economies. Apart from the concepts of Liberal and Coordinated Market Economies created by Hall and Soskice, the article introduces the development of the theory made by scientists such as Bruno Amable or Andreas Nölke and Arjan Vliegenthart, focusing on the Post‑Communist countries. Also, it refers to Dorothee Bohle and Béla Greskovits’ critique of the theory in an attempt to outline the constant evolution of this relatively fresh idea.