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. Wim Suyker, 2006. "Nuancing the favourable assessments of the Nordic economies," CPB Memorandum 153.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
    2. 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.
    3. Rodrik, Dani, 1997. "The 'paradoxes' of the successful state," European Economic Review, Elsevier, vol. 41(3-5), pages 411-442, April.
    4. Dani Rodrik, 1994. "Getting Interventions Right: How South Korea and Taiwan Grew Rich," NBER Working Papers 4964, National Bureau of Economic Research, Inc.
    5. 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.
    6. 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.
    7. 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.
    8. Tausch, Arno, 2007. "Correctly finger-pointing the Lisbon-process-villains," MPRA Paper 1890, University Library of Munich, Germany.
    9. 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.
    10. 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.
    11. 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.
    12. 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.
    13. Pasquale Tridico, 2011. "Varieties of capitalism and responses to the Financial Crisis: the European social Model versus the US Model," Departmental Working Papers of Economics - University 'Roma Tre' 0129, Department of Economics - University Roma Tre.
    14. Giuseppe Bertola, 2014. "Labor market policies and European crises," IZA Journal of Labor Policy, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 3(1), pages 1-11, December.
    15. Stefan Huemer & Beatrice Scheubel & Florian Walch, 2013. "Measuring Institutional Competitiveness in Europe," CESifo Economic Studies, CESifo Group, vol. 59(3), pages 576-608, September.
    16. Tindara Addabbo & Rosa García-Fernández & Carmen Llorca-Rodríguez & Anna Maccagnan, 2013. "The effect of the crisis on material deprivation in Italy and Spain," Department of Economics (DEMB) 0019, University of Modena and Reggio Emilia, Department of Economics "Marco Biagi".
    17. Douglas Gollin, 2002. "Getting Income Shares Right," Journal of Political Economy, University of Chicago Press, vol. 110(2), pages 458-474, April.
    18. Wong Fot Chyi, 1995. "Discussion of 'Growth in East Asia: What We Can and What We Cannot Infer From It' and 'The Growth Experience of Japan - What Lessons to Draw?'," RBA Annual Conference Volume (Discontinued), in: Palle Andersen & Jacqueline Dwyer & David Gruen (ed.),Productivity and Growth, Reserve Bank of Australia.
    19. Messina, Julian & Strozzi, Chiara & Turunen, Jarkko, 2009. "Real wages over the business cycle: OECD evidence from the time and frequency domains," Journal of Economic Dynamics and Control, Elsevier, vol. 33(6), pages 1183-1200, June.
    20. repec:hal:wpspec:info:hdl:2441/5101 is not listed on IDEAS
    21. Huw Lloyd-Ellis & Dan Bernhardt, 2000. "Enterprise, Inequality and Economic Development," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 67(1), pages 147-168.

    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.