State capitalism in transition

Ilias Alami

Chapter 2 in A Research Agenda for Economic Geography, 2025, pp 13-26 from Edward Elgar Publishing

Abstract: Over the past two decades, governments have dramatically expanded their role as promoters of capital accumulation, industrial policy actors, investor-shareholders, and direct owners of capital. States intervene in increasingly muscular ways via techno-industrial policies, state-coordinated investment in large-scale infrastructure, trade restrictions, and investment controls. They also control a growing mass of capital and assets. This chapter considers the determinants and implications of this phenomenon for economic geography, in dialogue with literatures on renewed state involvement across variegated global production and financial networks. The core idea of state capitalism in transition is explored with respect to two areas where rapid change is likely to propel further state capitalist experimentation: hegemonic struggles and climate transitions. Whether this period of transition leads to a new broad-based cycle of accumulation or not, the new state capitalism pushes us to rethink the role of the state, planning, and property in and beyond capitalism.

Keywords: State capitalism; State ownership; Trade and investment restrictions; Industrial policy; Sovereign funds; State theory (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035339914
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