Types of capitalism

Yuri Danilov

Journal of the New Economic Association, 2023, vol. 60, issue 3, 150-170

Abstract: In the proposed article, an attempt is made to expand the classification of the types of capitalism that was formulated in the scientific concepts over the last 30 years. We used the concepts of law and finance, finance and politics, access orders, varieties of capitalism, inclusive growth models, sustainable growth models (which developed in parallel, enriching each other little) to compare criteria for identifying types of capitalism and assess the similarity of descriptions of various types in these concepts. Methodological problems were identified that make difficult or distort the classification of types of capitalism (ignoring the differences in the stages of development; lack of quantitative characteristics; of justification for choosing a more progressive type of capitalism; the presence of distortions due to a number of reasons, including countries falling into deadlocks). Readers are offered the results of a study of Russia's proximity to certain countries in terms of sociocultural characteristics (based on Hofstede's indicators). We assume that in the future Russia needs to focus on those models of capitalism that showed effectiveness in developed countries that are relatively close to Russia in terms of sociocultural parameters.

Keywords: types of capitalism; inequality; populism; law and finance; finance and politics; sustainable development; Hofstede's dimensions (search for similar items in EconPapers)
JEL-codes: O57 P17 P51 Z13 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2023:i:60:p:150-170

DOI: 10.31737/22212264_2023_3_150-170

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