Past Event

ECA Talk: Patchwork Capitalism - Causes and Risks

This ECA Talk will discuss the recent comparative analysis of the development paths and nature of post-communist capitalism in 11 new EU member countries of Central and Eastern Europe. It focuses on the unique "patchwork capitalism" model that shapes these countries' institutional comparative advantage.

This ECA Talk discussed the recent comparative analysis of development paths and the nature of post-communist capitalism in 11 new EU member countries of Central and Eastern Europe (CEE-11) between 2004 and 2023. It focuses on the unique "patchwork capitalism" model that shapes these countries' institutional comparative advantage. While this model supports short- and medium-term economic growth and income convergence, it is less resilient to external shocks like the COVID-19 pandemic and incurs significant economic and social costs. Over the long term, the model's limited capacity for innovation and adaptation hinders progress toward a knowledge-driven, sustainable economy, making it unlikely that the CEE-11 countries will escape their current semi-peripheral status in global value chains.

DATE: September 23, 2024

TIME: 8:00 - 9:00 AM EDT

CHAIR: Ivailo Izvorski, Chief Economist for Europe and Central Asia at the World Bank

CONTACT: Office of the Chief Economist Office in Europe and Central Asia

ECACEoffice@worldbank.org

Piotr Maszczyk - Speaker

Piotr Maszczyk - Speaker

Deputy Dean of Graduate Studies and Head of the Macroeconomics and Public Economics Unit at SGH Warsaw School of Economics

Piotr Maszczyk is a Deputy Dean of Graduate Studies at SGH Warsaw School of Economics and Head of the Macroeconomics and Public Economics Unit. A graduate of SGH, he received a doctoral degree in 2007 based on his dissertation "The privatization process in Central and Eastern Europe: A Contribution to Theory”. He is the author and coauthor of nearly fifty articles, and academic studies, as well as numerous expert opinions. His research focuses on economic theory, institutional economics, comparative economics, differentiation of models/variations of capitalism, public sector economics, managerial economics, and systemic transformation in Central and Eastern Europe.

Doerte Doemeland

Doerte Doemeland - Discussant

Director of Strategy and Operations in Prosperity Vice Presidency at the World Bank

Doerte Doemeland is the Director of Strategy and Operations in Prosperity Vice Presidency. Prior to this appointment, she was the Practice Manager for Macroeconomics, Trade and Investment (MTI) covering Latin America and the Caribbean. Since joining the World Bank as a Junior Professional Officer, she has worked on technical, analytical and operational tasks in low and middle-income countries in ECA, LAC and Sub-Saharan Africa. She also spent two years in the World Bank’s Research Department to work with the Sr. Vice President and Chief Economist. She was the first Program Manager of the World Bank’s Debt Management Facility (DMF), responsible for establishing and implementing debt management tools and a work program of over 40 missions per year. 

Sebastian Eckardt - Discussant

Sebastian Eckardt - Discussant

Practice Manager for Macroeconomics, Trade and Investment in the East Asia and Pacific Region at the World Bank

Sebastian Eckardt is a Practice Manager for Macroeconomics, Trade and Investment in the East Asia and Pacific Region where he leads a team of economists working on Cambodia, Laos, Myanmar, China, Mongolia and Vietnam. Prior to this position, he was the Lead Economist for China, Mongolia and Korea and earlier Vietnam. Since joining the World Bank in 2008, he has led complex lending operations and innovative analytical work across more than a dozen countries mostly in Europe and Asia, supporting clients in the areas of macroeconomic, fiscal, and structural reforms.

Ivailo Izvorski - Host & Chair

Ivailo Izvorski - Host & Chair

Chief Economist for the Europe and Central Asia region at the World Bank

Ivailo Izvorski is the Chief Economist for the Europe and Central Asia region. He assumed this position on December 1, 2022. Since joining the World Bank in 2005 as a Senior Country Economist for Bosnia and Herzegovina in the Poverty Reduction and Economic Management sector Unit, he has held various positions — including Lead Economist and Practice Manager in Europe and Central Asia, and his most recent assignment as Practice Manager for the Global Macro, Growth and Debt unit in the Macroeconomics, Trade and Investment (MTI) Global Practice.

Date: September 23, 2024

Time: 08:00 AM - 09:00 AM ET

Location: Virtual