THE CHANGING FACE OF CAPITALISM: THE STATE CAPITALISM
Published: 20 Jun 2015
Abstract: As the globalisation process is speeding up, new or revamped concepts are taking shape with respect to macroeconomic management at country or regional level. One of the most debated such concepts is the ”state capitalism”. Broadly defined as an economic system where the state, in its endeavour to ensure an efficient economic development, relies on capitalist ways and means of managing the economy, the state capitalism is mostly visible in emergent economies. China and Brazil are most telling examples in this sense.The significance of the phenomenon represented by the state capitalism was highlighted during and in the aftermath of the last economic and financial crisis.
Keywords: emergent economies, financial crisis, globalisation, state capitalism
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