Download or read book Reinventing State Capitalism written by Aldo Musacchio and published by Harvard University Press. This book was released on 2014-04-22 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: The wave of liberalization that swept world markets in the 1980s and 90s altered the ways that governments manage their economies. Reinventing State Capitalism analyzes the rise of new species of state capitalism in which governments interact with private investors either as majority or minority shareholders in publicly-traded corporations or as financial backers of purely private firms (the so-called "national champions"). Focusing on a detailed quantitative assessment of Brazil's economic performance from 1976 to 2009, Aldo Musacchio and Sergio Lazzarini examine how these models of state capitalism influence corporate investment and performance. According to one model, the state acts as a majority investor, granting the state-owned enterprise (SOE) financial autonomy and allowing professional management. This form, the authors argue, has reduced many agency problems commonly faced by state ownership. According to another hybrid model, the state uses sovereign wealth funds, holding companies, and development banks to acquire a small share of equity ownership in a corporation, thereby potentially alleviating capital constraints and leveraging latent capabilities. Both models have benefits and costs. Yet neither model has entirely eliminated the temptation of governments to intervene in the operation of natural resource industries and other large strategic enterprises. Nevertheless, the longstanding debate over whether private ownership is superior or inferior to state capitalism has become irrelevant, Musacchio and Lazzarini conclude. Private ownership is now mingled with state capital on a global scale.
Download or read book State Capitalism written by Joshua Kurlantzick and published by Oxford University Press. This book was released on 2016-03-08 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: The end of the Cold War ushered in an age of American triumphalism best characterized by the "Washington Consensus:" the idea that free markets, democratic institutions, limitations on government involvement in the economy, and the rule of law were the foundations of prosperity and stability. The last fifteen years, starting with the Asian financial crisis, have seen the gradual erosion of that consensus. Many commentators have pointed to the emergence of a powerful new rival model: state capitalism. In state capitalist regimes, the government typically owns firms in strategic industries. Not beholden to private-sector shareholders, such firms are allowed to operate with razor-thin margins if the state deems them strategically important. China, soon to be the world's largest economy, is the best known state capitalist regime, but it is hardly the only one. In State Capitalism, Joshua Kurlantzick ranges across the world--China, Thailand, Brazil, Russia, South Africa, Turkey, and more--and argues that the increase in state capitalism across the globe has, on balance, contributed to a decline in democracy. He isolates some of the reasons for state capitalism's resurgence: the fact that globalization favors economies of scale in the most critical industries, and the widespread rejection of the Washington Consensus in the face of the problems that have plagued the world economy in recent years. That said, a number of democratic nations have embraced state capitalism, and in those regimes, state-backed firms like Brazil's Embraer have enjoyed considerable success. Kurlantzick highlights the mixed record and the evolving nature of the model, yet he is more concerned about the negative effects of state capitalism. When states control firms, whether in democratic or authoritarian regimes, the government increases its advantage over the rest of society. The combination of new technologies, the perceived failures of liberal economics and democracy in many developing nations, the rise of modern kinds of authoritarians, and the success of some of the best-known state capitalists have created an era ripe for state intervention. State Capitalism offers the sharpest analysis yet of what state capitalism's emergence means for democratic politics around the world.
Download or read book The End of the Free Market written by Ian Bremmer and published by Penguin. This book was released on 2010-05-13 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding the rise of state capitalism and its threat to global free markets The End of the Free Market details the growing phenomenon of state capitalism, a system in which governments drive local economies through ownership of market-dominant companies and large pools of excess capital, using them for political gain. This trend threatens America's competitive edge and the conduct of free markets everywhere. An expert on the intersection of economics and politics, Ian Bremmer has followed the rise of state-owned firms in China, Russia, the Arab states of the Persian Gulf, Iran, Venezuela, and elsewhere. He demonstrates the growing challenge that state capitalism will pose for the entire global economy. Among the questions addressed: Are we on the brink of a new kind of Cold War, one that pits competing economic systems in a battle for dominance? Can free market countries compete with state capitalist powerhouses over relations with countries that have elements of both systems-like India, Brazil, and Mexico? Does state capitalism have staying power? This guide to the next big global economic trend includes useful insights for investors, business leaders, policymakers, and anyone who wants to understand important emerging changes in international politics and the global economy.
Download or read book State Capitalism Institutional Adaptation and the Chinese Miracle written by Barry Naughton and published by Cambridge University Press. This book was released on 2015-06-09 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores how Chinese institutions have adapted to the new challenges of 'state capitalism'.
Download or read book State Capitalism In Eurasia written by Spechler Martin C and published by World Scientific. This book was released on 2017-06-16 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book to specify the type of economic system that has arisen in Central Asia, replacing the simplistic ideas of "petro-state" or "resource dependent." The book presents three types of state capitalism now established in the former Soviet Union states of Eurasia — crony, dual-sector, and predatory capitalism. It provides first-hand research based on extensive interviewing in the native languages in five of the six. From the political economic perspective, it surveys the source of resources for these authoritarian regimes, their decision-making, and the disposition of government funds, including corruption.
Download or read book State Capitalism written by Austin Tamargo and published by . This book was released on 2021-02-10 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: A book describing in detail what State Capitalism is, giving historical and psychological explanations for this cultural phenomenon.
Download or read book State Capitalism Contentious Politics and Large Scale Social Change written by Vincent Pollard and published by BRILL. This book was released on 2011-03-22 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: Through a careful analysis of the former Soviet Union and China, and South Asian societies of India and the Phillipines, this volume examines the creation of a state capitalism, its roll in economic development, and its impact on social change.
Download or read book Stakeholder Capitalism written by Klaus Schwab and published by John Wiley & Sons. This book was released on 2021-01-27 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reimagining our global economy so it becomes more sustainable and prosperous for all Our global economic system is broken. But we can replace the current picture of global upheaval, unsustainability, and uncertainty with one of an economy that works for all people, and the planet. First, we must eliminate rising income inequality within societies where productivity and wage growth has slowed. Second, we must reduce the dampening effect of monopoly market power wielded by large corporations on innovation and productivity gains. And finally, the short-sighted exploitation of natural resources that is corroding the environment and affecting the lives of many for the worse must end. The debate over the causes of the broken economy—laissez-faire government, poorly managed globalization, the rise of technology in favor of the few, or yet another reason—is wide open. Stakeholder Capitalism: A Global Economy that Works for Progress, People and Planet argues convincingly that if we don't start with recognizing the true shape of our problems, our current system will continue to fail us. To help us see our challenges more clearly, Schwab—the Founder and Executive Chairman of the World Economic Forum—looks for the real causes of our system's shortcomings, and for solutions in best practices from around the world in places as diverse as China, Denmark, Ethiopia, Germany, Indonesia, New Zealand, and Singapore. And in doing so, Schwab finds emerging examples of new ways of doing things that provide grounds for hope, including: Individual agency: how countries and policies can make a difference against large external forces A clearly defined social contract: agreement on shared values and goals allows government, business, and individuals to produce the most optimal outcomes Planning for future generations: short-sighted presentism harms our shared future, and that of those yet to be born Better measures of economic success: move beyond a myopic focus on GDP to more complete, human-scaled measures of societal flourishing By accurately describing our real situation, Stakeholder Capitalism is able to pinpoint achievable ways to deal with our problems. Chapter by chapter, Professor Schwab shows us that there are ways for everyone at all levels of society to reshape the broken pieces of the global economy and—country by country, company by company, and citizen by citizen—glue them back together in a way that benefits us all.
Download or read book Subsidies to Chinese Industry written by Usha C.V. Haley and published by Oxford University Press. This book was released on 2013-05-02 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Government subsidies have contributed to China's success as manufacturer and exporter in capital-intensive industries. China's state-capitalist regime uses subsidies to stabilize and create common understandings of markets among governments and firms.
Download or read book State Capitalism and Working class Radicalism in the French Aircraft Industry written by Herrick Chapman and published by Univ of California Press. This book was released on 1991-01-01 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Using the example of the aircraft industry, which takes him like an arrow to the heart of many of the key conflicts in French life between 1936 and 1948, Herrick Chapman has written a penetrating and exceptionally well documented account of the way that France developed her present style of industrial relations, in which the state plays such a central role. No book I know so successfully integrates the history of aviation . . . with the political and social history of France. Both thorough and thoughtful, it is an impressive achievement."--Robert Wohl, University of California, Los Angeles "An unusual, innovative book based on impressive research that throws new light in a major way on twentieth-century French politics and society . . . one of the most interesting and original monographs in modern French history in a long time."--Robert O. Paxton, Columbia University "This is a breakthrough of considerable importance. [Chapman] will become the leading North American, perhaps even English-speaking, historian of contemporary France."--George Ross, Brandeis University
Download or read book Regulating the Visible Hand written by Benjamin L. Liebman and published by Oxford University Press, USA. This book was released on 2016 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text examines the domestic and global consequences of Chinese state capitalism, focusing on the impact of state-owned enterprises on regulation and policy, while placing China's variety of state capitalism in comparative perspective.
Download or read book Capitalism Alone written by Branko Milanovic and published by Harvard University Press. This book was released on 2019-09-24 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the first time in history, the globe is dominated by one economic system. Capitalism prevails because it delivers prosperity and meets desires for autonomy. But it also is unstable and morally defective. Surveying the varieties and futures of capitalism, Branko Milanovic offers creative solutions to improve a system that isn’t going anywhere.
Download or read book Seeking the Best Master written by Miklós Szanyi and published by Central European University Press. This book was released on 2020-02-01 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic crisis of 2008–2009 signaled the end of the Post-Washington Consensus on restricting the role of the state in economic and development policy. Since then, state ownership and state intervention have increased worldwide. This volume offers a comparative analysis of the evolution of direct state intervention in the economy through state-owned companies in Austria, Brazil, France, Germany, Hungary, Poland, Turkey, Singapore, and Slovenia. Each case study includes substantial explanations of historical, cultural, and institutional contexts. All the contributors point to the complex nature of the current revival in state economic interventions. The few models that are successful cannot hide the potential problems of excessive state intervention, linked to high levels of moral hazard. State-owned enterprises are primary tools of market and price manipulation for political purposes. They can be used outright for rent seeking. Yet state-owned enterprises can also play important roles in prestigious national initiatives, like major public works or high-profile social and sports events. The authors conclude that after the uniform application of democratic market economic principles, the 2000s witnessed a path-dependent departure from standard economic and political operating procedures in developed countries.
Download or read book The State of China s State Capitalism written by Juann H. Hung and published by Springer. This book was released on 2018-11-23 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book comprises a collection of well-researched essays on selected contemporary economic and finance issues in China, making a timely contribution to the intellectual intercourse regarding the implications of China’s rise. These essays analyze issues related to the state of China’s ecology, real estate market, inbound and outbound FDI, income inequality, etc., and offer analysis on the policy and institutional causes of those issues. Readers will be able to infer their implications for business opportunities in China and the tradeoff / tension between economic growth and social welfare. Moreover, this book introduces an array of data and data sources useful to scholars and practitioners interested in studying the Chinese model of economic growth. This book will be a valuable resource to journalists and scholars trying to gain insight into China’s extraordinary pace of growth in the past three decades.
Download or read book State permeated Capitalism in Large Emerging Economies written by Andreas Nölke and published by Routledge. This book was released on 2019-08-30 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book systematically analyzes the economic dynamics of large emerging economies from an extended Comparative Capitalisms perspective. Coining the phrase ‘state-permeated capitalism’, the authors shift the focus of research from economic policy alone, towards the real world of corporate and state behaviour. On the basis of four empirical case studies (Brazil, India, China, South Africa), the main drivers for robust economic growth in these countries from the 2000s until the 2010s are revealed. These are found, in particular, in mutual institutional compatibilities of ‘state-permeated capitalism’, in their large domestic markets, and beneficial global economic constellations. Differences in their institutional arrangements are explored to explain why China and India have been more economically successful than Brazil and South Africa. The authors highlight substantial challenges for the stability of state-permeated capitalism and assess the potential future growth, sustainability and likely pitfalls for these large emerging economies. Opening further avenues for empirical and theoretical research, this book raises questions for the future of the global economic order and should appeal to academics, graduate students and advanced undergraduates in politics, economics, economic sociology and development studies. It should also prove a worthwhile and provocative read for development practitioners and policy-makers.
Download or read book Capitalism with Chinese Characteristics written by Yasheng Huang and published by Cambridge University Press. This book was released on 2008-09-01 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents a story of two Chinas – an entrepreneurial rural China and a state-controlled urban China. In the 1980s, rural China gained the upper hand. In the 1990s, urban China triumphed. In the 1990s, the Chinese state reversed many of its rural experiments, with long-lasting damage to the economy and society. A weak financial sector, income disparity, rising illiteracy, productivity slowdowns, and reduced personal income growth are the product of the capitalism with Chinese characteristics of the 1990s and beyond. While GDP grew quickly in both decades, the welfare implications of growth differed substantially. The book uses the emerging Indian miracle to debunk the widespread notion that democracy is automatically anti-growth. As the country marked its 30th anniversary of reforms in 2008, China faces some of its toughest economic challenges and substantial vulnerabilities that require fundamental institutional reforms.
Download or read book Doing Capitalism in the Innovation Economy written by William H. Janeway and published by Cambridge University Press. This book was released on 2012-10-08 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: A unique insight into the interaction between the state, financiers and entrepreneurs in the modern innovation economy.
