
Contents
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Introduction Introduction
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Ideal Types Ideal Types
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Capitalism and State Capitalism Capitalism and State Capitalism
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Dimensions of State Capitalism Dimensions of State Capitalism
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Purpose Purpose
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The Means within State Capitalism to Achieve Outcomes The Means within State Capitalism to Achieve Outcomes
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Networks/State-Business Interactions Networks/State-Business Interactions
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Theoretical Underpinnings Theoretical Underpinnings
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Sectoral Varieties of State Capitalism Sectoral Varieties of State Capitalism
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Conclusion Conclusion
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References References
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4 State Capitalism: Means and Dimensions
Get accessMatthew M. C. Allen is Professor in Management and Head of the Business, Management and Marketing Group in Bangor Business School, Bangor University, UK. His research focuses on the institutional structuring of firms’ innovation activities, examining organizations in Europe, North America and Asia. He has published his work in leading journals, such as the Journal of International Business Studies, the British Journal of Management, Sociology, The International Journal of Human Resource Management, and Work, Employment and Society. The German Academic Exchange Service, the Hans Böckler Foundation and the Economic and Physical Sciences Research Council have funded his research.
Geoffrey T. Wood is DanCap Private Equity Chair and Head of DAN Management at Western University in Canada, and Visiting Professor at Trinity College, Dublin. Previously, he served as Dean and Professor of International Business, at Essex Business School and before then as Professor of International Business at Warwick Business School, UK. He has authored/coauthored/edited eighteen books, and over one hundred and eighty articles in peer-reviewed journals. He has an h-index of 41, and an i10-index of 163. He holds honorary positions at Griffith and Monash University in Australia. Geoff’s research interests center on the relationship between institutional setting, corporate governance, firm finance, and firm-level work and employment relations. He is a Fellow of the Academy of Social Sciences, and a Fellow of the British Academy of Management, and is also in receipt of an Honorary Doctorate in economics from Aristotle University, Greece.
Matthew R. Keller is an Associate Professor at the Southern Methodist University, USA. His research focuses on innovation, institutional change, and the role of government. He is co-editor, with Fred Block, of State of Innovation: the US Government’s Role in Technology Development. Recent works have explored innovation and industrial policies in an era of “networked” innovation, and the operations and durability of networked developmental state programs. He has received funding for his research from, amongst others, the prestigious National Science Foundation’s Science of Science and Innovation Policy Program. His work has been published in leading journals, including Competition and Change, and Socio-Economic Review.
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Published:19 December 2022
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Abstract
The recent rise of companies from emerging markets, especially China, has led to a slew of studies based on the concept of “state capitalism.” However, definitions of this term vary significantly. We review how various leading authors use the term state capitalism to draw out differences between, and similarities within, those conceptualizations. By doing so, we seek to 1) define what “state capitalism” is (and is not); 2) demonstrate how the dimensions of state capitalism vary; and 3) put forward a range of Weberian “ideal types” of state capitalism. This enables us to highlight the dimensions along which state capitalisms vary as well as to specify the means that state capitalisms use in an effort to achieve their objectives, opening up important new areas for interdisciplinary research.
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