Emerging market state-owned multinationals: a review and implications for the state capitalism debate

2021 ◽  
Author(s):  
Andrei Panibratov ◽  
Daria Klishevich
Keyword(s):  
Emerging Market ◽  
The State ◽  
State Capitalism ◽  
Market State

Financialization and state capitalism in Hungary after the Global Financial Crisis

2021 ◽  
pp. 102452942110032
Author(s):  
David Karas
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Emerging Market ◽  
Active Role ◽  
The State ◽  
State Capitalism ◽  
Political Risks ◽  
Role Of The State ◽  
Advanced Economies ◽  
The Global Financial Crisis

Whereas the active role of the state in steering financialization is consensual in advanced economies, the financialization of emerging market economies is usually examined through the prism of dependency: this downplays the domestic political functions of financialization and the agency of the state. With the consolidation of state capitalist regimes in the semi-periphery after the Global Financial Crisis, different interpretations emerged – some linking state capitalism with de-financialization, others with coercive projects deepening it. Preferring a more granular and multi-dimensional approach, I analyse how different facets of financialization might represent political risks or opportunities for state capitalist projects: Based on the Hungarian example, I first explain how the constitution of a ‘financial vertical’ after 2010 inaugurated a new mode of statecraft. Second, I show how the financial vertical enabled rentier bargains between state and society after 2015 by deepening the financialization of social policy and housing in response to a looming crisis of competitiveness.

Russia in 2000-2004: Heading towards State Capitalism?

2004 ◽  
pp. 42-65 ◽  
Author(s):  
A. Radygin
Keyword(s):  
The State ◽  
Private Business ◽  
Private Companies ◽  
State Capitalism ◽  
The Government

The paper deals with one of the characteristic trends of the 2000s, that is, the government's property expansion. It is accompanied by attempts to consolidate economic structures controlled by the state and state-owned stock packages and unitary enterprises under the aegis of holdings. Besides the government practices selective severe enforcement actions against a number of the largest private companies, strengthens its control over companies with mixed capital and establishes certain informal procedures of relationships between private business and the state. The author examines the YUKOS case and the business community's actual capacity to protect its interests. One can argue that in all likelihood the trend to the 'state capitalism' in its specific Russian variant has become clearer over 2003-2004.

RUSSIAN REAL ESTATE MARKET STATE AND PROSPECTS

2021 ◽  
Vol 3 (5) ◽  
pp. 23-27
Author(s):  
V. A. ERONIN ◽  
◽  
O. E. EMELYANOV ◽  
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
The State ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Market State

The article considers the state, main problems and prospects of development of the real estate market in Russia in modern conditions.

Гocкaпитaлизм, Coциaльныe Клaccы, Культуpный Лaндшaфт Coвeтcкoй Дepeвни Cтaлинcкoгo и Пocлecтaлинcкoгo Bpeмeни

2016 ◽  
Vol 43 (3) ◽  
pp. 301-337 ◽  
Keyword(s):  
Soviet Union ◽  
The State ◽  
Specific System ◽  
State Capitalism ◽  
Agrarian Society ◽  
Cultural Transformations ◽  
Leading Role ◽  
Economic Exploitation ◽  
The Soviet Union ◽  
The 1960S

This article analyzes socio-economic and cultural transformations in the Soviet village from the end of the 1920s until the 1980s. The authors identify the agrarian system of that time as state capitalism and reveal that during the 1950s and 1960s, capital that played a leading role in Soviet agriculture. The authors argue that the emergence of state capitalism was due to the interaction of the state, collective farms, and peasant holdings. The preservation of traditional peasant holdings allowed the state to build a specific system of non-economic exploitation, the core of which existed until the beginning of the 1960s. The authors connect the formation of agrarian capitalism with the creation of new rural classes. The authors conclude that from the 1920s to the 1980s, a combination of economic, political and socio-cultural factors led to the transformation of the agrarian society in the Soviet Union into the state capitalism.

REVENUE DIVERSIFICATION AND BANKING RISK: DOES THE STATE OWNERSHIP MATTER? EVIDENCE FROM AN EMERGING MARKET

2020 ◽  
Vol 15 (04) ◽  
pp. 2050019
Author(s):  
GIANG THI HUONG VUONG ◽  
MANH HUU NGUYEN
Keyword(s):  
Commercial Banks ◽  
Emerging Market ◽  
Generalized Method Of Moments ◽  
State Ownership ◽  
The State ◽  
Least Square ◽  
Revenue Diversification ◽  
Income Diversification ◽  
Empirical Results ◽  
Banking Risk

Our paper investigates the influence of state ownership on the linkage between revenue diversification and risk of Vietnam domestic commercial banks in the period 2009–2018. By using the Generalized Method of Moments (GMM) estimation for a dynamic panel model, the empirical results indicate that Vietnamese domestic commercial banks with higher state equity are promoted to take more risks in the revenue diversification process. Our findings are robustly checked by a variety of measures of banking risk, income diversification, and state equity. Empirical results from our dynamic model are not only accordant with the previous findings of Batten and Vo [(2016). Bank risk shifting and diversification in an emerging market. Risk Management, 18(4), 217–235] estimated by Ordinary Least Square (OLS) regression on the positive relationship between banking risk and income diversification in Vietnamese domestic commercial banks but also provide new evidence on the tradeoff relationship between risk-return in the operating strategy of Vietnamese state-owned banks in the post-financial crisis. This paper proposes a framework for evaluating the nexus between revenue diversification and risk from the state ownership aspect in other frontier markets.

Institutional Legacy as a Context of the Implementation of International Rankings in the Russian Higher Education System

2017 ◽  
pp. 368-392
Author(s):  
Natalia Karmaeva ◽  
Tatjana Kanonire
Keyword(s):  
Higher Education ◽  
Education System ◽  
18Th Century ◽  
Local Communities ◽  
The State ◽  
Global Competition ◽  
University Ranking ◽  
Higher Education System ◽  
Russian Higher Education ◽  
Market State

Western university model was transferred to Russia in the 18th century. The development of HEIs took its own unique direction serving the needs of the country, while the state has been dominating the HE sector. The chapter analyzes the interplay of market, state and informal mechanisms in the process of implementation of rankings. The institutional legacy underpinned the locally defined hierarchies of HEIs and disciplines, both explicit and implicit. The challenges that Russia meets on its way toward world university ranking are on the level of institutions and faculty, students and parents, and employers. As a conclusion, global rankings and local hierarchies have to be balanced in the HEIs structures to allow for a compromise between the demands of the global competition and the needs of the local communities.

scholarly journals Moving Toward Neo-Totalitarianism: A Political-Sociological Analysis of the Evolution of Administrative Absorption of Society in China

2018 ◽  
Vol 9 (1) ◽  
Author(s):  
Xiaoguang Kang
Keyword(s):  
Nonprofit Organizations ◽  
Nonprofit Sector ◽  
The State ◽  
The Other ◽  
Sociological Analysis ◽  
State Capitalism ◽  
Laws And Policies ◽  
The One ◽  
The Relationship ◽  
Three Phases

AbstractChina recently promulgated and revised a number of laws, regulations and measures to regulate the nonprofit sector. All these administrative efforts increase support for Chinese nonprofit organizations (NPOs) on the one hand and put unprecedented pressure on them on the other. The seemingly contradictory effects are actually based on the same logic of Administrative Absorption of Society (AAS). This article proposes three phases in the development of AAS: an subconscious phase, a theory-modeling phase, and an institutionalization phase. The institutionalization of AAS has led to the rise of neo-totalitarianism, which is featured by state capitalism, unlimited government, and a mixed ideology of Marxism and Confucianism. Neo-totalitarianism further strengthens AAS and has begun to reshape the relationship between the state and the nonprofit sector. This article analyzes China’s nonprofit policymaking from a sociopolitical perspective, and clarifies the context, the characteristics, and the evolution of laws and policies in the nonprofit sector in macrocosm.

scholarly journals Livelihood, Market and State: What does A Political Economy Predicated on the ‘Individual-in-Group-in-PLACE’ Actually Look Like?

2019 ◽  
Vol 11 (15) ◽  
pp. 4082 ◽  
Author(s):  
Stephen Quilley ◽  
Katharine Zywert
Keyword(s):  
Economic Growth ◽  
Political Economy ◽  
High Energy ◽  
The State ◽  
Global Markets ◽  
Future Research ◽  
Welfare Systems ◽  
Market State ◽  
State And Market ◽  
The Individual

Ecological economics has relied too much on priorities and institutional conventions defined by the high energy/throughput era of social democracy. Future research should focus on the political economy of a survival unit (Elias) based upon Livelihood as counterbalance to both State and Market. Drawing on the work of Polanyi, Elias, Gellner and Ong, capitalist modernization is analyzed in terms of the emergence of a society of individuals and the replacement of the survival units of place-bound bound family and community by one in which the State acts in concert with the Market. The operation of welfare systems is shown to depend upon ongoing economic growth and a continual flow of fiscal resources. The politics of this survival unit depends upon high levels of mutual identification and an affective-cognitive ‘we imaginary’. Increasing diversity, a political rejection of nationalism as a basis for politics and limits to economic growth, are likely to present an existential threat to the State–Market survival unit. A reversal of globalization, reconsolidation of the nation-state, a reduction in the scope of national and global markets and the expansion of informal processes of manufacture and distribution may provide a plausible basis for a hybrid Livelihood–Market–State survival unit. The politics of such a reorientation would straddle the existing left–right divide in disruptive and unsettling ways. Examples are given of pre-figurative forms of reciprocation and association that may be indicative of future arrangements.

Sign in / Sign up

Export Citation Format

Share Document