Authors

Discussion

The New Institutional Economics dominates research covering the CEE region. The Variaties of Capitalism/Diversities of Capitalism approach that is frequently applied to the region's countries seems insufficient to explain the functioning of the Belarusian economy. Most of the existing analyses of Belarus underline the domination of state control in the system. Predominating contemporary approaches concerning the problem of tensions between ownership and the state suggest that the property rights are created from bottom to up. Their goal is to protect private ownership from the state. Another theory emerging from Russian-language area seems to better explain the peculiarities of Belarus. The idea of “power-ownership” stresses that land ownership relation developed from above - the central government transferred the right to collect income from these or other lands to members of the ruling class.