THE ROLE OF STATE IN THE ECONOMY AND STATE CAPITALISM: THE CASE OF CHINA AND INDIA

Martina Jirankova () and Dominik Proch ()
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Martina Jirankova: University of Economics, Prague
Dominik Proch: University of Economics, Prague

Medzinarodne vztahy (Journal of International Relations), 2018, vol. 16, issue 4, 347-375

Abstract: Despite the apparent similarity of China and India, a very different structure of their current and financial account has been found out. The purpose of the article is to examine these two economies from the perspective of current and financial accounts in more detail. China is a classic example of state capitalism but also it can use advantages which the global economy is offering. India is somewhere in the transition from a centrally planned economy to a market economy. China has shown high surpluses of its current account for a long time. This trend is gradually changing and China is reoriented to the domestic consumption. The balance of payments’ development in India indicates relatively low involvement of the economy in both real and financial flows.

Keywords: state capitalism; China; India; balance of payments (search for similar items in EconPapers)
JEL-codes: F32 F42 (search for similar items in EconPapers)
Date: 2018
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