Contested Capitalism: Financial Politics and Implications for China
AbstractAs China's economy grows and matures, is it developing institutional patterns that resemble those of other wealthy countries? I offer an innovative theory that deduces the structure of nations' capitalist institutions based on distributive welfare gains to those actors representing an economy's main factors of production (land, labor, and capital), using the structure of a nation’s financial institutions as a proxy for its capitalist institutions. Based on statistical and qualitative evidence across countries and time, I then draw implications for China. I find that China resembles continental European capitalism far more than Anglo-American capitalism, and that it is likely to remain this way for the foreseeable future.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 2432.
Date of creation: 14 Mar 2007
Date of revision:
comparative finance; financial institutions; political economy; capitalism; China;
Find related papers by JEL classification:
- P00 - Economic Systems - - General - - - General
- N00 - Economic History - - General - - - General
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-04-09 (All new papers)
- NEP-CNA-2007-04-09 (China)
- NEP-DEV-2007-04-09 (Development)
- NEP-TRA-2007-04-09 (Transition Economics)
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