Handbook of the International Political Economy of the Corporation
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Handbook of the International Political Economy of the Corporation

Edited by Andreas Nölke and Christian May

Over the past few decades, corporations have been neglected in studies of international political economy (IPE). Seeking to demystify them, what they are, how they behave and their goals and constraints, this Handbook introduces the corporation as a unit of analysis for students of IPE. Providing critical discussion of their global and domestic power, and highlighting the ways in which corporations interact with each other and with their socio-political environment, this Handbook presents a thorough and up-to-date overview of the main debates around the role of corporations in the global political economy.
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Chapter 10: The institutional embeddedness of transnational corporations: dependent capitalism in Central and Eastern Europe

Vera Šćepanović and Dorothee Bohle


This chapter explores the consequences of dependence on transnational capital for the institutional structures of four East Central European countries: the Czech Republic, Hungary, Slovakia and Poland. These countries have been very successful in attracting foreign capital, and have geared their institutional systems to attract and embed foreign corporations. The chapter argues that a combination of state efforts, activities of foreign corporations themselves and the European Union has led to the emergence of a transnationalized institutional sphere that supports the operations of outside firms. These transnational institutional solutions have emerged and exist independently of institutions geared towards the domestic sector, creating a segmented institutional environment. This segmentation has allowed only some fractions of domestic capital to survive in the shadow of the dominant model of dependent capitalism. However, with the recent ideological shift in the region, the domestic institutional segments may also become springboards for the politicians or domestic businessmen to attempt the construction of more ‘national’ forms of capitalism.

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