|Title||State Capitalism Revisited: A Review of Emergent Forms and Developments|
|Author(s)||Dolfsma, Wilfred; Grosman, Anna|
|Source||Journal of Economic Issues 53 (2019)2. - ISSN 0021-3624 - p. 579 - 586.|
|Department(s)||Business Management & Organization|
|Publication type||Refereed Article in a scientific journal|
|Keyword(s)||(Polanyi’s) double movement - SOMNCs - sovereign wealth funds - state capitalism - state-owned enterprises|
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.