IDEAS home Printed from https://ideas.repec.org/a/prg/jnlaop/v2014y2014i2id429p17-32.html
   My bibliography  Save this article

Role of the State in Economy and State Capitalism. The Case of Singapore
[Role státu v ekonomice a státní kapitalismus. Případ Singapuru]

Author

Listed:
  • Martina Jiránková
  • Pavel Žamberský

Abstract

The article deals with problems of state capitalism. It can be defined as maximisation of political control over economy and society and it is used as the characteristics of systems which exist in China, Russia, Brazil, United Arab Emirates, etc. State capitalism used to be effective in early periods of development when resources had to be concentrated. Corporations under state ownership are also able to compete on global markets and take advantage of their size and political support. Singapore represents an original connection of economic freedom and authoritarian capitalism. It is based on a free-market foreign-oriented economy which stresses financial market development, infrastructure, education, macroeconomic surroundings and fiscal management. The state as an owner and creator of the institutional framework plays an important role.

Suggested Citation

  • Martina Jiránková & Pavel Žamberský, 2014. "Role of the State in Economy and State Capitalism. The Case of Singapore [Role státu v ekonomice a státní kapitalismus. Případ Singapuru]," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2014(2), pages 17-32.
    • Handle: RePEc:prg:jnlaop:v:2014:y:2014:i:2:id:429:p:17-32
    DOI: 10.18267/j.aop.429
    as

    Download full text from publisher

    File URL: http://aop.vse.cz/doi/10.18267/j.aop.429.html
    Download Restriction: free of charge
    File URL: http://aop.vse.cz/doi/10.18267/j.aop.429.pdf
    Download Restriction: free of charge
    File URL: https://libkey.io/10.18267/j.aop.429?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. André Sapir, 2006. "Globalization and the Reform of European Social Models," Journal of Common Market Studies, Wiley Blackwell, vol. 44(2), pages 369-390, June.
    2. Alwyn Young, 1993. "Lessons from the East Asian NICs: A Contrarian View," NBER Working Papers 4482, National Bureau of Economic Research, Inc.
    3. Alwyn Young, 1994. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," NBER Working Papers 4680, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dani Rodrik, 1994. "Getting Interventions Right: How South Korea and Taiwan Grew Rich," NBER Working Papers 4964, National Bureau of Economic Research, Inc.
    2. Luciano Boggio, 2003. "A Model of Take‐Off and Fast Growth in Open Economies," Metroeconomica, Wiley Blackwell, vol. 54(2‐3), pages 301-325, May.
    3. Wim Suyker, 2006. "Nuancing the favourable assessments of the Nordic economies," CPB Memorandum 153.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
    4. Victoria Chorny & Rob Euwals & Kees Folmer, 2007. "Immigration policy and welfare state design; a qualitative approach to explore the interaction," CPB Document 153.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
    5. Alan M. Taylor, 1995. "Growth and Convergence in the Asia-Pacific Region: On the Role of Openness, Trade and Migration," NBER Working Papers 5276, National Bureau of Economic Research, Inc.
    6. Rodrik, Dani, 1997. "The 'paradoxes' of the successful state," European Economic Review, Elsevier, vol. 41(3-5), pages 411-442, April.
    7. Tindara Addabbo & Anna Maccagnan & Carmen Llorca-Rodríguez & Rosa García-Fernández, 2010. "Income distribution and the effect of the financial crisis on the Italian and Spanish labour markets," Department of Economics 0639, University of Modena and Reggio E., Faculty of Economics "Marco Biagi".
    8. Andrea Saltelli, 2007. "Composite Indicators between Analysis and Advocacy," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 81(1), pages 65-77, March.
    9. V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 1996. "The Poverty of Nations: A Quantitative Exploration," NBER Working Papers 5414, National Bureau of Economic Research, Inc.
    10. Bruno Amable, 2009. "The Differentiation of Social Demands in Europe. The Social Basis of the European Models of Capitalism," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 91(3), pages 391-426, May.
    11. Tausch, Arno, 2007. "Correctly finger-pointing the Lisbon-process-villains," MPRA Paper 1890, University Library of Munich, Germany.
    12. Catherine Mathieu & Henri Sterdyniak, 2008. "European social model(s) and social Europe," Sciences Po publications 2008-10, Sciences Po.
    13. Antigone Lyberaki, 2008. "“Deae ex Machina”: migrant women, care work and women’s employment in Greece," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 20, Hellenic Observatory, LSE.
    14. Philippe Burger, 2014. "Facing the Conundrum: How Useful Is the “Developmental State” Concept in South Africa?," South African Journal of Economics, Economic Society of South Africa, vol. 82(2), pages 159-180, June.
    15. Van Vliet, Olaf & Kaeding, Michael, 2007. "Globalisation, European Integration and Social Protection – Patterns of Change or Continuity?," MPRA Paper 20808, University Library of Munich, Germany.
    16. Michaelides, Panayotis & Milios, John, 2009. "TFP change, output gap and inflation in the Russian Federation (1994-2006)," Journal of Economics and Business, Elsevier, vol. 61(4), pages 339-352, July.
    17. Pisany Paweł, 2016. "Comparative Models of Capitalism in the Areas of Financial System and Corporate Governance – the Diversity of Capitalism Approach Perspective," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 52(1), pages 59-76, December.
    18. Tiago Florindo & Ana I. Ferraz & Ana C. Rodrigues & Leonel J. R. Nunes, 2022. "Residual Biomass Recovery in the Wine Sector: Creation of Value Chains for Vine Pruning," Agriculture, MDPI, vol. 12(5), pages 1-18, May.
    19. Ramon Pacheco Pardo, 2012. "Leadership, decision-making and governance in the EU and East Asia: crisis and post-crisis," Asia Europe Journal, Springer, vol. 9(2), pages 77-90, March.
    20. Alwyn Young, 1994. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," NBER Working Papers 4680, National Bureau of Economic Research, Inc.

    More about this item

    Keywords

    state capitalism; developmental state; Singapore; sovereign wealth fund; government-linked corporations;
    All these keywords.

    JEL classification:

    • P12 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Enterprises
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prg:jnlaop:v:2014:y:2014:i:2:id:429:p:17-32. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Stanislav Vojir (email available below). General contact details of provider: https://edirc.repec.org/data/uevsecz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.