State Capitalism, Institutional Adaptation, and the Chinese Miracle

Barry NAUGHTON, Kellee S. TSAI
Year of Publication
Cambridge University Press

China’s stunning growth rates have corresponded with the rise of ‘state capitalism’. Since the mid-2000s, China’s political economy has stabilized around a model where most sectors are marketized and increasingly integrated with the global economy; yet strategic industries remain firmly in the grasp of an elite empire of state-owned enterprises. What are the implications of state capitalism for industrial competitiveness, corporate governance, government-business relations, and domestic welfare? How does China’s model of state capitalism compare with other examples of state-directed development in late industrializing countries? As China enters a phase of more modest growth, it is especially timely to understand how its institutions have adapted to new challenges and party-state priorities. In this volume, leading scholars of China’s economy, politics, history, and society explore these compelling issues.

• Contributors are leading experts in their fields of research
• Approaches topic of state capitalism from a multidisciplinary perspective
• The phenomenon of state capitalism is an enduring feature of China’s political economy (not just a transitory phase of reform)