Open Access

This paper introduces a new approach to the quantitative study of democratization. Building on the comparative case-study and large-N literature, it outlines an episode approach that identifies the discrete beginning of a period of political liberalization, traces its progression, and classifies episodes as successful versus different types of failing outcomes, thus avoiding potentially fallacious assumptions of unit homogeneity. We provide a description and analysis of all 383 liberalization episodes from 1900 to 2019, offering new insights on democratic “waves”. We also demonstrate the value of this approach by showing that while several established covariates are valuable for predicting the ultimate outcomes, none explain the onset of a period of liberalization.

This dissertation analyses the degrees and trajectories of financialisation in the region of South-Eastern Europe. It modifies and applies an eclectic comparative framework for comparing the degrees of financialisation across time and space on different levels. The thesis finds that from the turn of the century until the Great Financial Crisis of 2008, most South-Eastern European countries have increased their degree of financialisation on the different levels, especially on the levels of household, international financialisation and partly the financial sector. Financialisation of non-financial companies is barely existing. After the financial crisis, financialisation is revealed to stagnate in the region. In a second step, the dissertation conducts three case studies on extreme cases: financial sector financialisation in Bulgaria, international financialisation in Serbia and non-financial company and household financialisation in Croatia. Their trajectories are exposed to be mainly driven by deregulation, changed practices by foreign banks, the privatisation of public goods and the liberation of capital controls. The dissertation serves to geographically enlarge the research of financialisation to a peripheral region of the Global North and to add to the discussion on comparative financialisation approaches.