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3. Hamlet with out the Prince of Denmark: How improvement has disappeared from today’s ‘development’ discourse Ha-Joon Chang

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Part three: Neo-liberal constraints at the coverage schedule

5. The pernicious legacy of the rent-seeking paradigm Helen Shapiro

6. Cementing neo-liberalism within the constructing global: Ideational and institutional constraints on coverage house Ilene Grabel

7. family source mobilization for a new-developmentalist technique within the age of globalization: The monetary house limitation in Latin the USA Luis Abugattas and Eva Paus

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Additional info for Emerging Capitalism in Central Europe and Southeast Asia: A Comparison of Political Economies

Sample text

Can one-person rule bring about rule by law, and the rule by law in turn lead to the rule of law, and if so, how? Along the same lines, can political capitalism1 develop into market capitalism, and if so, under what conditions? In other words, are the forms of political capitalism found in communist or postcommunist countries in so-called transition stages on the road toward market capitalism, in which public institutions ensure the orderly execution of economic exchanges? The question of such transitions, and of the passage from one form of rule to another, raises question of whether the market can emerge from the ruins of political capitalism, or does it necessarily involve a radically different register?

This has ultimately allowed the extension of capitalism both because of member countries’ openness to FDI and the investment capacities of the old members. This political capacity has allowed newer member-states to exercise and strengthen their desire for national sovereignty, which they were frequently denied in the past. It must be acknowledged that in certain areas, new members have impeded rather than encouraged collective action, including efforts to increase the pooling of sovereignties or internal structuring around the key hegemonic actors in regional entities.

For this reason, there is also nothing to suggest that strong economic development requires the rule of law and its political equivalent under the auspices of a democratic regime. Democracy is not a necessary condition for the fruitful development of economic exchanges. Not only is there not necessarily an internal connection between a particular political Political Capitalism and Market Economies 35 regime and a type of growth, but also economic growth is not linked to political democracy. In reality, conf lictual relationships between actors accounts for the change from one legal system to another.

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