Institutional Development in a Transition Economy: The Case of Poland

Author: Giffin, Phillip E

Source: International Journal of Social Economics, Volume 21, Number 7, 1994 , pp. 35-55(21)

Publisher: Emerald Group Publishing Limited

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Abstract:

The thesis that the institutional arrangements, social organizations,and ideology in Eastern Europe are not conducive to the establishment ofcapitalism, and certainly not the laissez-faire variety, with Polandcited as the illustrative case. Karl Polanyi's necessary conditions forlaissez-faire capitalism in the nineteenth century represent the pointof origin for the analysis, i.e. the maintenance of rules to permit theself-regulating market. The focus is on the ongoing process ofprivatization, citing the primary institutional shortcomings. Alsoexamines governmental structural problems in addition to historicalinstitutional developments. Considers the history of property rightsfrom legal and cultural perspectives. The final concern is to offer adifferent interpretation of markets, i.e. markets as cultural andpolitical institutions.

Keywords: Capitalism; Development; Economic Theory; Monetarism; Poland; Privatization; Religion; Social Economics

Document Type: Research article

Publication date: 1994-07-01