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Models of Capitalism in the European Union pp 75–139Cite as

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An Empirical Analysis of the Economic System

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Abstract

Based on the theoretical grounding in Part I, I accept the method of empirical model construction. As we have seen, in generating models for the market economies of the EU as they pertain to the older member states, a relative consensus exists in the literature in terms of distinguishing among the four accepted models; namely, the Nordic, continental, Anglo-Saxon, and Mediterranean models. For this reason, it might be reasonable to conduct an empirical institutional analysis exclusively of the NMS. However, two factors prompt opting for a full investigation once again. On the one hand, data from Amable—who carried out the most thorough empirical investigation so far—date from the 1990s; therefore, it is interesting to repeat the process with data from a decade later. On the other hand, the same set of indicators could not be generated because some of the NMS are not featured in the Organisation for Economic Co-operation and Development (OECD) database used by Amable.

This chapter is derived in part from the empirical investigation published in the author’s article, “The Central and Eastern European model of capitalism” (Post-Communist Economies 23(1) pp. 15–34, copyright Taylor & Francis), available online: http://www.tandfonline.com/ Article DOI 10.1080/14631377.2011.546972.

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    Beáta Farkas

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Farkas, B. (2016). An Empirical Analysis of the Economic System. In: Models of Capitalism in the European Union. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-60057-8_3

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