VARIETIES OF STATE CAPITALISM
Miklós Szanyi ()
Additional contact information
Miklós Szanyi: Institute of World Economics, Hungarian Academy of Sciences (KRTK MTA)
Global Economic Observer, 2018, vol. 6, issue 2, 140-146
The minimal state concept of the neo-liberal policy agenda was queried worldwide after the 2007/8 global financial crisis. Increased state intervention differed in its scope and durability in various capitalist models. Countries with stable and strong democratic political and market economic institutions witnessed a brief episode of nationalizations that was soon followed by the sale of acquired assets. However, new democracies responded differently. In most emerging market economies, post-communist and developing countries alike, increased state intervention remained in place and was used to various political purposes. These ranged from large-scale development programs to simple political rent seeking. The paper concludes that weak social and international control over political institutions may result in rolling back of democratic political institutions and drastic weakening of market economic institutions, the rule of law and competition.
Keywords: state capitalism; rent seeking; corruption; varieties of capitalism; market economy; liberal democracy (search for similar items in EconPapers)
References: Add references at CitEc
Citations Track citations by RSS feed
Downloads: (external link)
http://www.globeco.ro/wp-content/uploads/vol/split ... vol6_no2_art_013.pdf First version, 2018 (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ntu:ntugeo:vol6-iss2-18-140
Access Statistics for this article
Global Economic Observer is currently edited by Serghei Margulescu and Simona Moagar-Poladian
More articles in Global Economic Observer from "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences Contact information at EDIRC., Institute for World Economy of the Romanian Academy
Bibliographic data for series maintained by Stefan Ciucu ().