Second Wind of State Capitalism

DOI: 10.20542/0131-2227-2013-6-3-18

V. Kondrat'ev, Institute of World Economy and International Relations, Russian Academy of Sciences (IMEMO RAN), 23 Profsoyuznaya Str., Moscow, 117997, Russian Federation (

Abstract. The paper deals with the scale and depth of a state capitalism expansion around the world, explores its economic implications. The author focuses on governmental participation in a capital of corporations – either equity or debt – as a defining feature of a state capitalism. The modern state capitalism represents a significant advance in several respects, compared to its previous forms. First, it is developing on a much wider scale. Second, its development rates accelerate. And third, it has far more sophisticated growth tools at its disposal.

Keywords: state capitalism, industrial policy, efficiency, transnationalization, state-run companies, China, Brazil, India, Singapore, Russia

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For citation:
Kondratev V. Second Wind of State Capitalism. World Eonomy and International Relations, 2013, no. 6, pp. 3-18.

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