
Contents
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Introduction Introduction
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Conceptualization of State Capitalism Conceptualization of State Capitalism
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Literature Overview: State Capitalism in Post-communist Countries Literature Overview: State Capitalism in Post-communist Countries
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State Capitalism in the Broad Sense State Capitalism in the Broad Sense
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State Capitalism in the Narrow Sense State Capitalism in the Narrow Sense
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State Capitalism as Policy Before Populism State Capitalism as Policy Before Populism
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State Capitalism and Ascendance of Populism State Capitalism and Ascendance of Populism
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State-owned Enterprises State-owned Enterprises
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Summary of What is Known and the Existing Gaps Summary of What is Known and the Existing Gaps
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State Capitalism with Populist Characteristics: The Framework State Capitalism with Populist Characteristics: The Framework
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Specificity and Diversity; The Post-communist Countries Specificity and Diversity; The Post-communist Countries
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Six Features of State Capitalism with Populist Characteristics Six Features of State Capitalism with Populist Characteristics
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State Capitalism and The Firm in Poland State Capitalism and The Firm in Poland
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Historical Origins Historical Origins
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The Starting Point: The Declining Stage of Communism The Starting Point: The Declining Stage of Communism
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Transition Transition
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Features of State Capitalism in Poland Features of State Capitalism in Poland
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Politicization of SOEs Politicization of SOEs
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Politicization of SOEs à rebours Politicization of SOEs à rebours
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Other Features of State Capitalism Other Features of State Capitalism
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Spécialité de la Maison Spécialité de la Maison
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The State Domain is Much Bigger than it Seems The State Domain is Much Bigger than it Seems
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Rent-Seeking Potential of the State-owned Enterprise Sector Rent-Seeking Potential of the State-owned Enterprise Sector
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Peculiarities of the Largest Enterprises Peculiarities of the Largest Enterprises
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State Capitalism and the Firm in Hungary State Capitalism and the Firm in Hungary
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Historical Origins Historical Origins
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The Starting Point: The Declining Stage of Communism The Starting Point: The Declining Stage of Communism
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Transition Transition
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Features of State Capitalism in Hungary Features of State Capitalism in Hungary
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Politicization of State owned Enterprises Politicization of State owned Enterprises
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Cronyism Versus Oligarchy Cronyism Versus Oligarchy
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Other Features of State Capitalism Other Features of State Capitalism
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Spécialité de la Maison Spécialité de la Maison
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Crony Business Elites Crony Business Elites
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Nationalization as Wealth Redistribution Nationalization as Wealth Redistribution
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Peculiarities of the Largest Enterprises Peculiarities of the Largest Enterprises
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Discussion and Conclusions Discussion and Conclusions
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References References
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33 State Capitalism in Poland and Hungary: Populist Varieties
Get accessMaciej Bałtowski is Professor of Economics, the Head of the Department of Economic and Regional Policy at the Maria Curie-Skłodowska University in Lublin. He is an author and coauthor of eight books and numerous scientific and press articles devoted to privatization, economic transition, and ownership changes in Poland, published in ISI-cited journals. His research interests also cover problems of the role of the state and state ownership in contemporary economies. With Grzegorz Kwiatkowski, he coauthored a book State-owned enterprises in the global economy (2022).
Piotr Kozarzewski is an Associate Professor in the Faculty of Economics at the Maria Curie-Skłodowska University in Lublin. He has Habilitation in Political Science and Economics. He is a Member of the CASE Supervisory Council and a Participant of many research and advisory programs in Poland, the former Soviet Union, and Central and Eastern European countries on institutional reform, ownership transformation, and state corporate control. He is the author and coauthor of over 120 publications including a book State corporate control in transition: Poland in a comparative perspective (2021).
Tomasz Mickiewicz is Fiftieth Anniversary Professor of Economics at Aston Business School, Birmingham, UK. He has Habilitation in Economic Theory from Maria Curie Skłodowska University in Lublin. His research is on how rule of law, regulation, social capital, and corruption affect entrepreneurship and foreign investment, and on impact of ownership structures on performance. He published in three Financial Times listed journals and others. He serves as an editor of Entrepreneurship Theory and Practice.
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Published:19 December 2022
Cite
Abstract
We discuss the emerging economic systems of Poland and Hungary using the state capitalism approach and suggest some general lessons. We define state capitalism in the broad and narrow senses and propose six major manifestations of state capitalism of the populist variety, and five major state capitalism tools. Applying this framework to the post-Soviet, transition economies context, we discuss the origins of state capitalism formation in Poland and Hungary. We focus on specific features of the populist variety of state capitalism in these countries, including the relative importance of political capitalism, oligarchy, and the use of state-owned enterprises (SOEs) as the source of rents, as well as the varieties of state control over the enterprise sector. We point out that the specific economic policies implemented in the two countries are conditioned by the past. We also underline the discrepancy between the features resulting from post-communist path dependence and the contemporary influences, mainly related to the membership of both countries in the EU.
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