Europe Divided? Can Warsaw Become the Regional Leader of the Central and Eastern European Region?
DOI:
https://doi.org/10.12797/Politeja.14.2017.51.12Keywords:
geoecenomics, financial centre, transformationAbstract
Europe Divided? Can Warsaw Become the Regional Leader of the Central and Eastern European Region?
This paper investigates the long-term problems of capital accumulation in the context of centre and periphery and dependency models, the systemic and geo-economic features of the integration of post-socialist transition countries in the context of dependent market economy (DME) model characterized by high dependency on foreign direct investment channelled by foreign MNCs into the CEE and the restructuring of the centres in Central and Eastern Europe. It argues that the global economic crisis has been exposed the systemic vulnerability of the post-socialist neo-liberal transition model characterized by foreign investment-led growth which is failed to generate domestic capital accumulation and decrease the relative development gap between the ‘old’ and ‘new’ EU members. We would like to use the principles of geoeconomics in order to analyse the Central and Eastern European region and the role of the Foregin Direct Investment and its special role in financial sector in transformation and the question of the problem of Central and Eastern European financial centres focusing on the position of Warsaw.
Downloads
PlumX Metrics of this article
References
Berend I., From the Soviet Bloc to the European Union. The Economic and Social Transformation of Central and Eastern Europe since 1973, Cambridge 2009.
DOI: https://doi.org/10.1017/CBO9780511806995
Google Scholar
Bevan A., Estrin S., “The Determinants of Foreign Direct Investment into European Transition Economies”, Journal of Comparative Economics, vol. 32, no. 4 (2004), at <https://doi.org/10.1016/j.jce.2004.08.006>.
DOI: https://doi.org/10.1016/j.jce.2004.08.006
Google Scholar
Bohle D., Gerskovits B., Capitalist Diversity in Europe’s Periphery, Ithaca 2012.
Google Scholar
Csomós G., “A közép-európai régió nagyvárosainak gazdaságirányító szerepe”, Tér és Társadalom, vol. 25, no. 3 (2011).
DOI: https://doi.org/10.17649/TET.25.3.1872
Google Scholar
Estrin S. (ed.), Privatization in Central and Eastern Europe, London 1994.
Google Scholar
European Bank for Reconstruction and Development, Transition Report 1998. Financial Sector in Transition, London 1998.
Google Scholar
Eyal G., Szelenyi I., Townsley E., Making Capitalism without Capitalists. Class Formation and Elite Struggle in Post-Communist Central Europe, London–New York 1998.
Google Scholar
Gál Z., “The Development and the Polarised Spatian Structure of the Hungarian Banking System in a Transforming Economy”, in G. Barta et al. (eds.), Hungarian Spaces and Places: Patterns of Transition, Pécs 2005.
Google Scholar
Gál Z., “Development of International Financial Centres in Central and Eastern Europe during Transition Period and Crisis: The Case of Budapest”, Studia Regionalne i Lokalne, no. 2 (2015), pp. 53-80, at <http://dx.doi.org/10.7366/1509499526003>.
Google Scholar
Gál Z., “Role of Financial Sector FDI in Regional Imbalances in Central and Eastern Europe”, in A. Gostyńska et al. (eds.), Eurozone Enlargement in Times of Crisis. Challenges for the V4 Countries, Warszawa 2014.
DOI: https://doi.org/10.2139/ssrn.2494171
Google Scholar
Gál Z., Lux G., ET2050. Territorial Scenarios and Visions for Europe. Project 2013/1/19. Rinal Report, 30/06/2014, vol. 8: Territorial Scenarios and Visions for Central and Eastern Europe, Luxembourg 2014.
Google Scholar
Gowan P., “Neo-liberal Theory and Practice for Eastern Europe”, New Left Review, no. 213 (1995).
Google Scholar
Holland D. et al., “The Determinants and Impact of FDI in Central and Eastern Europe: A Comparison of Survey and Econometric Evidence”, Transnational Corporations, vol. 9, no. 3 (2000).
Google Scholar
Hunya G., “Mapping Flows and Patterns of Foreign Direct Investment in Central and Eastern Europe, Greece, Portugal during the Crisis”, in B. Galgoczi, J. Drahokoupil, M. Bernaciak (eds.), Foreign Direct Investment in Eastern and Southern Europe after 2008. Still a Lever of Growth?, Brussels 2015.
Google Scholar
Lux G., “Can We Build Location Advantages? Local Policies for Industrial Competitiveness”, in D. Vuković, H. Hanić (eds.), Regional Development Policy. Scientific Basic and Empirical Evidence, Belgrade 2015.
Google Scholar
Lux G., “The Institutional Conditions of Reindustrialisation in Post-crisis Central Europe”, Journal of Economics and Management, vol. 19 (2015).
Google Scholar
Mezei C., Schmidt A., “A lengyel regionális politika és intézményei”, Tér és Társadalom, vol. 27, no. 3 (2013).
DOI: https://doi.org/10.17649/TET.27.3.2477
Google Scholar
Munoz M.J., Advances in Geoeconomics, London–New York 2017.
DOI: https://doi.org/10.4324/9781315312132
Google Scholar
Myant M., Drahokoupil J., “International Integration, Varieties of Capitalism, and Resilience to Crisis in Transition Economies”, Europe-Asia Studies, vol. 64, no. 1 (2012), at <https://doi.org/10.1080/09668136.2012.635478>.
DOI: https://doi.org/10.1080/09668136.2012.635478
Google Scholar
Nölke A., Vliegenthart A., “Enlarging the Varieties of Capitalism: The Emergence of Dependent Market Economies in East Central Europe”, World Politics, vol. 61, no. 4 (2009), at <https://doi.org/10.1017/S0043887109990098>.
DOI: https://doi.org/10.1017/S0043887109990098
Google Scholar
Oplatka A., Miklós Németh. “Mert ez az ország érdeke”, Budapest 2014.
Google Scholar
Pavlínek P., Domański B., Guzik R., “Industrial Upgrading Through Foreign Direct Investment in Central European Automotive”, European Urban and Regional Studies, vol. 16, no. 1 (2009), at <https://doi.org/10.1177/0969776408098932>.
DOI: https://doi.org/10.1177/0969776408098932
Google Scholar
Petsinger M., What is Geoeconomics?, at <https://www.chathamhouse.org/system/files/publications/twt/WiB%20YQA%20Geoeconomics.pdf>.
Google Scholar
Pijl K. van der, Holman O., Raviv O., “The Resurgence of German Capital in Europe: EU Integration and the Restructuring of Atlantic Networks of Interlocking Directorates after 1991”, Review of International Political Economy, vol. 18, no. 3 (2011), at <http://dx.doi.org/10.1080/09692290.2010.488454>.
DOI: https://doi.org/10.1080/09692290.2010.488454
Google Scholar
Raviv O., “Chasing the Dragon East: Exploring the Frontiers of Western European Finance”, Contemporary Politics, vol. 14, no. 3 (2008), at <https://doi.org/10.1080/13569770802396345>.
DOI: https://doi.org/10.1080/13569770802396345
Google Scholar
Rousset P., “Reflections on the Indian Process”, International Viewpoint, 5 April 20014, at <http://www.internationalviewpoint.org/spip.php?article75>.
Google Scholar
Rugman A., D’Cruz J., Multinationals as Flagship Firms. Regional Business Networks, Oxford 2003.
DOI: https://doi.org/10.1093/acprof:oso/9780199258185.001.0001
Google Scholar
Sachs J., Warner A., “The Course of Natural Resources”, European Economic Review, vol. 45, no. 4-6 (2001).
DOI: https://doi.org/10.1016/S0014-2921(01)00125-8
Google Scholar
Sachs J., “What Is to Be Done?”, The Economist, 13 January 1990.
Google Scholar
Samary C., “The EU’s Eastward Expansion”, International Viewpoint, 28 June 1997, at <http://www.internationalviewpoint.org/spip.php?article758>.
Google Scholar
Schmidt A., “International Political Economy, the V4 States and the Economic Transformation”, University of Pecs, 2015.
Google Scholar
Smith A., “Europe and an Inter-dependent World: Uneven Geo-economic and Geo-political Developments”, European Urban and Regional Studies, vol. 20, no. 1 (2013), at <https://doi.org/10.1177/0969776412463309>.
DOI: https://doi.org/10.1177/0969776412463309
Google Scholar
Smith A., “Imagining Geographies of the ‘New Europe’: Geo-economic Power and the New European Architecture of Integration”, Political Geography, vol. 21, no. 5 (2002), at <https://doi.org/10.1016/S0962-6298(02)00011-2>.
DOI: https://doi.org/10.1016/S0962-6298(02)00011-2
Google Scholar
Søilen K.S., Geoeconomics, London 2012.
Google Scholar
Sokol M., “Central and Eastern Europe a Decade after the Fall of State-socialism: Regional Dimensions of Transition Processes”, Regional Studies, vol. 35, no. 7 (2001), at <https://doi.org/10.
DOI: https://doi.org/10.1080/00343400120075911
Google Scholar
/00343400120075911>.
Google Scholar
Sparke M., “Geopolitical Fears, Geoeconomic Hopes, and the Responsibilities of Geography”, Annals of the Association of American Geographers, vol. 97, no. 2 (2007), at <https://doi.org/10.111/j.1467-8306.2007.00540.x>.
DOI: https://doi.org/10.1111/j.1467-8306.2007.00540.x
Google Scholar
Szilágyi I., “A földrajz a történelem kulcsa”, Magyar Tudomány, no. 11 (2011).
Google Scholar
Taylor P., World City Network. A Global Urban Analysis, London–New York 2004.
DOI: https://doi.org/10.4324/9780203634059
Google Scholar
Wallerstein I., A modern világgazdasági rendszer kialakulása. A tőkés mezőgazdaság és az európai világgazdaság eredete a XVI. században, Budapest 1983.
Google Scholar
Wójcik D., “Geography and Future of Stock Exchanges: Between Real and Virtual Space”, Growth and Change, vol. 38, no. 2 (2007), at <http://dx.doi.org/10.1111/j.1468-2257.2007.000364.x>.
DOI: https://doi.org/10.1111/j.1468-2257.2007.000364.x
Google Scholar
Downloads
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Funding data
-
Budapesti Műszaki és Gazdaságtudományi Egyetem
Grant numbers EFOP-3.6.3-VEKOP-16-2017-00007