This article enlarges the existing literature on the varieties of capitalism by identifying a third basic variety that does not resemble the liberal market economy or coordinated market economy types. The dependent market economy (DME) type, as it is named by the authors, is characterized by the importance of foreign capital for the socioeconomic setup and is located in postsocialist Central Europe. Since the collapse of state socialism in the late 1980s, the Czech republic, Hungary, poland, and the slovak republic have introduced a rather successful model of capitalism when compared with other postsocialist states. This article identifies the key elements of the DME model and discusses their interplay. DMEs have comparative advantages in the assembly and production of relatively complex and durable consumer goods. These comparative advantages are based on institutional complementarities between skilled, but cheap, labor; the transfer of technological innovations within transnational enterprises; and the provision of capital via foreign direct investment

The rise of the large emerging economies of Brazil, India and China can easily be counted among the most important contemporary structural changes in the global political economy. This article attempts to determine whether these countries have a common institutional model for governing their economies and addresses the implications of these commonalities for global economic institutions. The approach consists of three major steps: first, a general ideal type for encompassing capitalism in these large emerging economies is constructed, and dubbed 'state-permeated market economy'; second, we compare these countries empirically, with regard to the features highlighted by the ideal type and in contrast to other varieties of capitalism; and, finally, we extrapolate some long-term implications for the global economic order, based on the assumption that foreign economic policies will be informed by domestic institutional structures. Based