Emerging models of patchwork capitalism in Central and Eastern Europe: empirical results of subspace clustering

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| Dec 31, 2018

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Clusters as identified with the ORCLUS algorithm	Continental cluster (with Germany)	Mediterranean cluster (with Italy or Spain but not Germany)	Anglo-Saxon cluster (with UK but not Germany)	Nordic cluster (with Sweden but not Germany and UK)
Institutional area
Product market competition	Convergence: 10	Convergence: 7
	Divergence: 1	Divergence: 4
Labor market and industrial	Convergence: 6		Convergence: 5
relations	Divergence: 5		Divergence: 6
Financial intermediation	Convergence: 9		Convergence: 7
	Divergence: 2		Divergence: 4
Social protection	Convergence: 5			Convergence: 5
	Divergence: 6			Divergence: 6
Knowledge sector	Convergence: 5	Convergence: 11	Convergence: 11
	Divergence: 6	Divergence: 0	Divergence: 0
Housing market	Convergence: 10	Convergence: 9	Convergence: 11
	Divergence: 1	Divergence: 2	Divergence: 0

Institutional area	Anglo-Saxon cluster (with UK)	Nordic cluster (with Sweden)	Mediterranean cluster (with Italy)	Continental European cluster (not internally coherent)
Product market competition	No	No	Yes	Yes
Labor market and industrial relations	Yes	No	No	Yes
Financial intermediation	Yes	No	No	Yes
Social protection	No	Yes	No	Yes
Knowledge sector	Yes	No	Yes	Yes
Housing market	Not applicable

Institutional area	Cluster 1	Cluster 2	Cluster 3	Cluster 4
Product market competition	DE, ES, SE, UK, AT, BE, DK, FI, FR, NL, EE, HU, LV, LT, RO	IT, GR, SI	IE, SK, PL, HR	PT, CZ, BG
Labor market and industrial relations	DE, BE, IT, SE, DK, ES, FR, NL, AT, FI	UK, IE	GR, PT, HR, CZ, PL, SI	BG, EE, HU, LV, LT, RO, SK
Financial intermediation	DE, AT, BE, FI, FR, GR, IE, IT, PT, BG, HR, CZ, EE, HU, LV, LT, PL, RO, SK, SI	UK, ES, SE, DK, NL
Social protection	DE, IT, UK, BE, IE, GR, ES, FR, NL, AT, PT, FI, HR, SI	SE, DK	BG, CZ, EE, HU, LV, LT, PL, RO, SK
Knowledge sector	DE, SE, AT, DK, FI, NL	UK, BE, FR, IE	IT, SI	BG, CZ, EE, HR, LV, LT, HU, PL, RO, SK, GR, ES, PT
Housing market	DE, AT, FR	UK, SE, BE, DK, IE, NL, FI	ES, GR, PT, EE	BG, HR, CZ, HU, IT, LV, LT, PL, RO, SK, SI

Institutional area	Bulgaria	Croatia	Czechia	Estonia	Hungary	Latvia	Lithuania	Poland	Romania	Slovakia	Slovenia
Product market competition	DE	DE	DE	DE	DE	DE	DE	DE	DE	DE	IT
Labor market and industrial relations	DE	DE	DE	DE	DE	DE	DE	DE	DE	DE	DE
Financial intermediation	DE	DE	DE	DE	DE	DE	DE	DE	DE	DE	DE
Social protection	DE	DE	DE	SE	SE	SE	DE	DE	SE	DE	DE
Knowledge sector	UK	IT	IT	IT	DE	IT	IT	IT	IT	IT	IT
Housing market	IT	IT	IT	IT	UK	IT	IT	IT	IT	IT	IT

Institutional area	Distinct cluster for CEE11 countries	Number of outliers	Number of EU14 countries in the CEE11 cluster
Product market competition	No	N/A	N/A
Labor market and industrial relations	Yes	4 (HR, CZ, PL, SI)	2 (GR, PT)
Financial intermediation	No	N/A	N/A
Social protection	Yes	2 (HR, SI)	0
Knowledge sector	Yes	1 (SI)	3 (GR, PT, ES)
Housing market	Yes	1 (EE)	1 (IT)

Publication timeframe:: 4 times per year
Journal Subjects:: Business and Economics, Political Economics, Economic Theory, Systems and Structures, Business Management, Management Accounting, Financial Controlling, Cost Calculation, Investment