Contested Capitalism: Financial Politics and Implications for China

Carney Richard

MPRA Paper from University Library of Munich, Germany

Abstract: As China's economy grows and matures, is it developing institutional patterns that resemble those of other wealthy countries? I offer an innovative theory that deduces the structure of nations' capitalist institutions based on distributive welfare gains to those actors representing an economy's main factors of production (land, labor, and capital), using the structure of a nation’s financial institutions as a proxy for its capitalist institutions. Based on statistical and qualitative evidence across countries and time, I then draw implications for China. I find that China resembles continental European capitalism far more than Anglo-American capitalism, and that it is likely to remain this way for the foreseeable future.

Keywords: comparative finance; financial institutions; political economy; capitalism; China (search for similar items in EconPapers)
JEL-codes: N00 O10 P00 (search for similar items in EconPapers)
Date: 2007-03-14
New Economics Papers: this item is included in nep-cna, nep-dev and nep-tra
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https://mpra.ub.uni-muenchen.de/5144/1/MPRA_paper_5144.pdf revised version (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:2432

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