State Capitalism Revisited: A Review of Emergent Forms and Developments

Wilfred Dolfsma, Anna Grosman

Research output: Contribution to journalArticleAcademicpeer-review

3 Citations (Scopus)

Abstract

Abstract: Even when the neoliberal ideology of the free market was more dominant than it now is, the state was involved in economic activities that could be undertaken by private firms. State capitalism takes increasingly diverse forms, including beyond direct, partial or even indirect ownership. This paper briefly reviews some of these forms without claiming to be exhaustive as the shape state capitalism takes differs widely across the institutionalized contexts of countries. We assess state capitalism using Polanyi’s double movement framework and argue that this framework needs adaptation to novel forms of state capitalism that include, e.g., state-owned multinationals and sovereign wealth funds.

Original languageEnglish
Pages (from-to)579-586
Number of pages8
JournalJournal of Economic Issues
Volume53
Issue number2
DOIs
Publication statusPublished - 3 Apr 2019

Keywords

  • (Polanyi’s) double movement
  • SOMNCs
  • sovereign wealth funds
  • state capitalism
  • state-owned enterprises

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