Article - Problems of Modern Economics

Averjanova O. V.
Assistant Professor, Chair of Financial Law, St. Petersburg State University of Economics, PhD (Economics)
Alipov A. S.
Assistant Professor, Chair of Economic Cybernetics, St. Petersburg State University, PhD (Economics)
Blagikh Ivan A.
Professor, Chair of the History of Economics and Economic Thought, St.Petersburg State University, PhD (Economics)
Vashchuk A. E.
Senior lecturer, Chair of European Studies, St. Petersburg State University, PhD (Economics)
Titov V. O.
Assistant Professor, Chair of Credit Theory and Financial Management, Department of Economics, St. Petersburg State University, PhD (Economics)

Comparative analysis of contemporary capitalism: theories and methodologies (Russia, St. Petersburg)

The article presents methodological approaches to research of international differences and organizational forms of capitalist socio-economic systems. Until the end of the XX c. this analysis was conducted on the basis of the original model of West European capitalism. Meeting the challenges of the present-day comparative approach, it becomes crucial to develop a methodology of capitalism analysis with regards to the states with emerging markets. On the basis of their research the authors offer four approaches that explain the mechanisms of formation of the “new capitalism” in the economies of the former socialist countries, as well as Asian, African and other traditionally non-capitalist societies. According to one of these approaches, the process of particular “hybridization” of local and Western institutions is taking place in the countries of the “new capitalism”; this process is accompanied by the “transfer” of norms and practices upon foreign markets (the so-called mutual institutional exchange phenomenon). The authors argue that precisely these “hybrid” models may become the key direction at the new stage of convergence of socio-economic systems and the dominant type of contemporary capitalism.

Key words: comparative historical methodology, typology of capitalism, emerging markets, convergence of socio-economic systems, multi-factor regression analysis

Pages: 39 - 46

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