A taxonomy of state capitalism

A taxonomy of state capitalism

The developmental phases of Russia, Kazakhstan, South Korea and Singapore - a comparative institutional analysis

Axel Wölk


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What is the economic order of state capitalism? Furthermore,how can its significant performance differences be explained? The firstquestion is tackled with the help of New Institutional Economics by developinga model of state capitalism. This topic is furthermore dealt with in Chapter 3 wherea taxonomy of state capitalism is presented. This chapter already explains someof the performance differences. In the last chapter with the help ofsemi-structured interviews and literature surveys – in four case studies –propositions are forwarded as to why state capitalist orders vary so widely intheir performances. Two points stick out: the quality of the bureaucracy aswell as a varying degree of commitment of the political leadership to adevelopmental course.


Axel Wölk:
Axel Wölk is an economist. He currently works as a freelancejournalist and translator for a financial news agency and various localnewspapers. In the course of his career, he also had stints at the economicnews agency dpa-AFX and the Frankfurter Allgemeine Zeitung as well as publishedbooks on Russia.