© 2016

Models of Capitalism in the European Union

Post-crisis Perspectives


Table of contents

  1. Front Matter
    Pages i-xxi
  2. Institutional Analysis in Economics

    1. Front Matter
      Pages 1-1
    2. Beáta Farkas
      Pages 3-27
  3. Models of the Market Economy in the EU at the Threshold of the Global Financial and Economic Crisis of 2008

    1. Front Matter
      Pages 73-73
    2. Beáta Farkas
      Pages 141-224
  4. Market Economies of the EU in the 2008 Global Crisis

  5. European Integration of the Varieties of Capitalism

  6. Back Matter
    Pages 509-541

About this book


This book uses comparative economic analysis to provide a common conceptual framework for all current European Union member states. Based on empirical investigation, the author identifies the Nordic, North-western, Mediterranean, and Central and Eastern models of capitalism on the threshold of the 2008 global financial and economic crisis. The chapters also examine the resulting institutional responses to the crisis and the methods of crisis management adopted by each member state. The analysis reveals that the crisis has not triggered radical institutional change but, instead, highlighted deep institutional differences not between the old and new member states, but between the Nordic, North-western, Mediterranean, and Central and Eastern European countries. These institutional differences are so significant that they require the rethinking of European integration theory.

Models of Capitalism in the European Union serves as a useful handbook for academics, advanced students, policy-makers and advisors who are interested in European economic issues.


Comparative economics European integration 2008 Financial Crisis Institutional analysis EU member states capitalism European Union (EU) political economy political science politics

Authors and affiliations

  1. 1.Finance and International Economic RelationsUniversity of SzegedSzegedHungary

About the authors

Beáta Farkas is Professor and Head of the Institute of Finance and International Economic Relations at the University of Szeged, Hungary. She joined the university after obtaining degrees in both Law and Economics, and now holds a PhD in Economics. She was the founding Dean of the Faculty of Economics and Business Administration.

Bibliographic information


“The volume represents a powerful and constructive voice in the debate on modern economic systems … . Well-argued, well-written and well-presented, this monograph will be of interest to economists and political scientists as well as experts and analysts. Due to the rich selection of graphs, tables and figures, it will prove an invaluable source for lecturers to structure their lectures and for students, at undergraduate and graduate level, as a companion to a variety of modules across the field.” (Anna Visvizi, Yearbook of the Institute of East-Central Europe, Vol. 14 (4), 2016)