The Oxford Handbook of State Capitalism and the Firm

State capitalism has evolved from radical critiques of the Soviet Union to a middle ground as a pragmatic way to describe the state assuming an active economic agent role. This book focuses on the latter, with state capitalism taking direct and indirect forms, such as state-owned enterprises and promoting insider firms. It raises governance questions such as agency tensions, transparency, and monitoring. State capitalism is not always associated with superior governance arrangements, and clear divisions between developing and mature economies are breaking down. This volume brings together the accounts of leading experts from around the world.

Format: Hardback
Length: 912 pages
Publication date: 28 July 2022
Publisher: Oxford University Press

State capitalism has experienced a significant resurgence of interest, encompassing its definition, prevalence, and increasing ubiquity. Initially emerging as radical critiques of the Soviet Union, it has evolved to be employed by neo-liberals to describe market reforms deemed imperfect. It has now settled into a middle ground, serving as a pragmatic way to describe the state assuming an active economic role alongside its regulatory, social, and security functions.

This book primarily focuses on the latter aspect, while also delving into the origins and historical evolution of state capitalism. It explores contemporary theories of state capitalism, which may manifest in direct forms through state-owned enterprises or indirect forms through promoting insider firms that occupy monopolistic market positions and perform outsourced state functions. This raises important governance questions, including agency tensions between public ownership and political or private interest control, transparency and monitoring issues.

While state capitalism is often associated with states in the global south, it is evident in mature economies, regardless of their liberal or coordinated nature. This phenomenon challenges the traditional distinctions between developing and developed worlds, highlighting the complexity and evolving nature of state capitalism.

This volume brings together the insights of leading experts from diverse disciplines, fostering a multi-disciplinary approach to understanding state capitalism. It aims to provide a comprehensive examination of this economic model and its implications for governance and policy.

Weight: 1790g
Dimension: 183 x 256 x 56 (mm)
ISBN-13: 9780198837367