The book assesses the democratization and marketization in the Visegrad states. It analyses the effectiveness of these emerging government structures at a regional and local level in terms of competencies and resources, makes comparisons with West European experiences at this level, and examines the role of external factors, especially the EU and international financial organisations, in the development of sub-national authorities in these countries.

This collection provides exceptional descriptive and analytical insights into changes in corporate governance settings in ten Eastern and Western European countries. It demonstrates that there exist different varieties of capitalisms and paths to transformation of economic institutions. In addition, it offers detailed discussions about national cases as well as the overall European Union effects. This book should be of great interest to scholars and students of comparative national systems, corporate governance and European studies.

At the beginning of the transition process, the countries of Central and Eastern Europe faced the task of creating a functioning financial system where none had existed before. A decade later, high-level practitioners and well-known experts take stock of banking and monetary policy in the region, centring on: the governance of banks; the spread of financial crisis; and, perspectives for monetary policy and banking sector development.

What will joining the EU mean for the new Eastern member states and their economies? This book offers a detailed study of the macroeconomic and structural adjustment burden. It envisages a real currency appreciation stemming from price convergence, capital inflows and weak structural change. The widespread belief that an Eastern enlargement of the Union would be overwhelmingly to the detriment of the present EU (budgetary costs, locational decisions, trade deficits) is rejected. The authors discuss the lack of competitiveness of Eastern countries and their need for structural adjustments (in the financial sector, in agriculture, and in manufacturing) in order for them to survive and thrive in their new economic environment.

Can the European Economic and Monetary Union survive as an institution providing the highest degree of monetary integration? Can it withstand crises in international markets and contribute to the stability of the global financial system? This book addresses these questions, emphasising the need for new forms of economic policy coordination.

The importance of subnational regions to politics, governance, and economic development in Western Europe has long been recognized. However, far less is known about recent steps to introduce a regional level of politics in East Central Europe. Reforms there are part of the larger process of crafting democracy; that is, regional reforms are linked to the economic and political transition away from communism and toward “Europe,” specifically the European Union. Crafting Democracy offers an important comparative analysis of the process and outcomes of region-building in the four Visegrád countries. Jennifer A. Yoder investigates why some but not other post-communist countries chose to introduce a regional level of elected government. In the 1990s, for example, Poland boldly took the lead in regionalization, while the Czech Republic and Slovakia lagged behind. Hungary, meanwhile, declined to create regions. The author argues that these regional reform processes have potentially far-reaching implications for state-society relations, political participation, and policymaking at the domestic level. The emergence of new actors at the subnational level, moreover, creates opportunities for cross-border and European Union–level initiatives.

This book sets the experiences of former communist countries as they head towards capitalism against the 'varieties of capitalism' paradigm, and provides a framework for comparing transformation processes, demonstrating how differing heritages of communist and pre-communist pasts are leading to different kinds of capitalist economies.