From Communists to Foreign Capitalists - The Social Foundations of Foreign Direct Investment in Postsocialist Europe (Hardcover)

"Capital is the fuel of the modern economy. After the fall of the Iron Curtain, the former socialist countries had to import this fuel from capital-rich Western countries. Which countries could attract the most foreign direct investment and why? In her outstanding study, Nina Bandelj shows that the diffusion of foreign direct investment is a socially embedded process in which decisions in an uncertain environment are shaped by social, cultural, and political forces. Arguing clearly and gracefully, she skillfully applies the toolkit of economic sociology to one of the most pressing questions of the global economy."--Jens Beckert, Max Planck Institute for the Study of Societies

"Pundits tell us that globalization has now made the world flat, and rendered the state obsolete. Nina Bandelj shows that both of these truisms are false, explaining how social networks, institutions, politics, and culture deeply affect the flow of foreign direct investment into eleven postsocialist countries. Her thoughtful analysis will be of interest to anyone who wants to understand globalization, economic development, and Central and Eastern Europe since 1989."--Bruce G. Carruthers, Northwestern University

"In this compelling account of the origins of foreign direct investment in postsocialist Eastern Europe, Nina Bandelj explores a critically important--but typically overlooked--component of economic transition: the centrality of social relations to what may appear to be a purely economic exchange. Anyone interested in transition, Eastern Europe, or economic sociology more generally will want to add this to their must-read list."--Lisa A. Keister, Duke University

"This book is a major contribution toeconomic sociology and the study of the postcommunist transformation. It makes creative and fundamental theoretical points and has empirical punch. It will stand out in the literature on foreign direct investment with its originality."--Akos Rona-Tas, University of California, San Diego