The Czech Republic from the Perspective of the Varieties of Capitalism Approach
Abstract: Modern capitalism is not singular. There are varieties of capitalism in the contemporary world. This paper aims to apply the Varieties of Capitalism approach developed by Hall and Soskice (2001) to the case of the Czech Republic and ascertain whether the Czech market economy is approaching a liberal or a coordinated ideal type defined by these authors. At the same time, such findings might provide an answer to whether the Varieties of Capitalism approach designed for advanced industrialized economies is fully applicable for the analysis of a post socialist country that underwent a complicated process of economic and institutional transformation.
Keywords: Varieties of capitalism, Market economy, Czech Republic