Abstract
More than 40 years after the economies of the post-socialist countries took the path of the market, we are still asking ourselves what we have actually created. The new book by Nikolai Nenovsky and Eric Manian helps us with the answers by exploring the specific forms that capitalism has taken in the post-socialist countries and in the Balkans in particular. Forms defined by the authors as Dependent Capitalism (DC), established in Central and Eastern Europe (CEE) at the beginning of the current century, which are the result of a complex combination between the initial conditions of the late 1980s, the legacy of the former socialist system and the processes of transition and EU integration marked by institutional reform. The book focuses in particular on Dependent Monetary Regimes (DMRs) and exclusively on the specific forms these regimes have taken in the Balkans. It examines the introduction and functioning of currency boards in Bulgaria and Bosnia and Herzegovina, as well as the euro as legal tender in Montenegro and Kosovo.
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