This article analyzes the shifts in the global order that occurred in relation to governments' actions and their search for an increased global status within the capitalist global system. Examining the deliberate application of governmental economic interventions, the article examines how Brazil...

This article examines a specific form of state capitalism in Egypt under President Abdel Fattah el-Sisi, characterized by the central role of the military in economic affairs. Following the events of the 2011 Egyptian Revolution, the Egyptian military not only secured its position as a key...

This book provides a rare account of China’s market reform in the own words of the Chinese: politicians, intellectuals, the media, and journalists. The Chinese rhetoric –complex, ironic, argumentative, and abstruse – may hold the key to understanding China’s unique style of elite...

This paper explores the influence of the State Capital Investing and Operating Company (SCIOC) pilot reform on SOE bailout using a staggered difference-in-differences model. Based on a sample of listed SOEs during 2011-2018, we find that when the real controllers of listed SOEs enter the list of...

This essay examines market blacklisting—a term the essay uses to describe extraordinary government restrictions that limit a corporation’s ability to trade freely in U.S. markets—as a regulatory tool used to deny the benefits of U.S. markets to Chinese firms. Analyzing and recharacterizing...

This study builds upon the venture growth literature and venture legitimation mechanisms and investigates how venture firms in China can acquire legitimacy and necessary resources from state stakeholders for venture growth during the COVID-19 pandemic. To offer a context-specific perspective of...

The past two decades have seen a rapid rise in large-scale, state-led transnational investment from countries as different as China, Norway and Russia. By bundling economic resources, these countries have entered global markets through massive state-led investments. This transformation of states...

The African Group proposes to reform the WTO's subsidy rules for industrial goods. Even if this demand for more policy space entails some problems, the EU should view this as an opportunity. By combining the African Group's proposal with new rules against tradedistorting industrial subsidies by...

Is the World Trade Organization (WTO) and its rules-based system capable of addressing the distortions in trade caused by the explosive growth of China’s State-Owned Enterprises (SOEs)? If it is, why hasn’t it been put to use? If the WTO rules are not up to task, where and how do they need...

Through a series of case studies in diverse regions of the world, this book explores how transnational Norwegian energy and extractive industries handle corporate social responsibility (CSR) when operating abroad in places such as China, Brazil, and Turkey. With significant state ownership and...

The present chapter is premised on the assumption that the promotion of liberal market values is an essential objective of the international economic order, but that so too is (and will be) the preservation of institutional diversity and the capacity for institutional innovation, against which...

This Element qualifies the common understanding of State-Owned Enterprises (SOEs) as mere instruments of the state and instead conceive of them as economic actors in their own right. Specifically, SOE top management teams have leeway to diverge from goals that the state they are owned by...

At the heart of Singapore's political economy is the PAP government, which controls the levers of control. The accumulation of power occurs through a recurring pattern of state collectivisation and economic liberalisation, while the nation's wealth expands through state investment vehicles...

This chapter foregrounds the role of the state in shaping the future of work through national industrial policies compelled by geopolitical considerations. The chapter fleshes out the concept of ‘workplace geopolitics’, namely the intertwined character of conflicts with the organisation and...

Global capitalism is being reshaped by two major trends. States have become increasingly interventionist, reshaping their economies in response to crises and geopolitical tensions. Secondly, digital platform giants have emerged from the US and China that concentrate political economic power in...

China has created a distinct economic system. Yet despite a growing literature with valuable contributions on the institutional arrangements under 'capitalism with Chinese characteristics', the precise economic mechanisms underpinning China's state-market relations remain undertheorised. In this...

This article shows the evolution of the aerospace sector in Italy using archival sources which have not yet been fully explored. The sector experienced a shift from the state ownership model to a demand-side industrial policy. The historical case of how Alenia Spazio evolved into an innovative...

Based on Chinese industrial firms' data, this study found that state capital injection weakened the technological progress and management efficiency of private firms, which led to a reduction in enterprises' total factor productivity. State capital injection also increased the labor cost and...

1. Introduction -- Part I -- 2. From ‘New Class’ to ‘New Bourgeoisie’: An Unintended Legacy of the Cultural Revolution -- 3. Market Socialism or Market Leninism? The institutionalization of China’s Crony Capitalism -- Part II -- 4. The Origins of China’s Comprador Capitalism -- 5....

After India gained independence in 1947, Britain reinvented its role in the global economy through nongovernmental aid organizations. Utilizing existing imperial networks and colonial bureaucracy, the nonprofit sector sought an ethical capitalism, one that would equalize relationships between...

China greatly reduced its air pollution over the past two decades. Using firm-level data, we show how the emission reduction was achieved differently by state-owned enterprises (SOEs) and non-state -owned enterprises (NSOEs): SOE cut more emissions and did so by investing in abatement...

This study seeks to investigate how and why state capitalism developed in China and Russia in the oil and gas sectors and explain why two countries that have contrasting energy-security challenges use state capitalism to solve them. It argues that state control over the oil and gas sectors has...