Comparative Capitalism and the Transitional Periphery
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Comparative Capitalism and the Transitional Periphery

Firm Centred Perspectives

Edited by Mehmet Demirbag and Geoffrey Wood

With a growing body of literature dealing with business and management issues in the transitional economies of Central and Eastern Europe, the study of the ‘transitional periphery’, or post-Soviet economies, is sparse. A combination of rich natural resources and strategic locations make these economies of significant importance. This book provides fresh and recent research on both firms and the business environment in this region. It serves as a key reference work for those interested in comparative capitalism, business and society in the post state socialist world.
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Chapter 4: Political risk, political instability and the transitional periphery in the age of global uncertainty

Ali Resul Usul


This chapter aims to analyse the concept of political risk from a multidisciplinary perspective, focusing in particular on the Central Asian countries as transitional peripheral states. The chapter discusses, first, the fuzzy concept of political risk in the literature of international business, and then argues that a more integrated method needs to understand the notion better, borrowing mainly from the literature of political science and international politics. The interconnection between the dynamics of political stability/instability and political risk necessitates more integrated and comprehensive approach, in particular within the increasingly uncertain global political landscape. The chapter reviews the basic methods to define, understand and predict political stability, associated with political risk, and then focuses on the Central Asian states from the transitional periphery.

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