We analyze the new varieties of state capitalism in the 21st century and explore their implications in terms of both strategic and governance outcomes. We begin by discussing how the current theoretical perspectives conceptualize state-owned enterprises’ strategic behavior. Then we introduce a stylized distinction between four broad, new varieties of state capitalism—wholly owned state-owned en...

In this paper we use new, detailed and comprehensive linked firm-product data to describe various dimensions of the Chinese export boom from 2000-2007. First, we decompose the total growth in exports into an intensive and extensive margin at both the firm and the product level. We also use this decomposition to analyse the role of processing firms, foreign-owned firms and firms which benefit fr...

I ndonesia’s economic policies began to become much more market oriented during the 1980s. Various policy reforms were implemented, notably in the field of international trade (Fane and Condon, 1996). In addition, there came to be a new emphasis on privatisation, although this was nearly all talk and no action (Hill, 2000:103-5). In 1989 the then Finance Minister announced that 52 state-owned e...

Increasing numbers of tourists are requiring access to these natural areas, and in order to supply this need, opportunities exist in privately owned areas, and in those which have been modified in some way. These places are often used for other purposes such as pastoralism, mining, and agriculture, but they also have an alternative, high value use for tourism (Buckley, 1999; Schmiechen, 2004; W...

Does the availability of internal finance constrain firm growth? Or does it foster it? To answer these questions, we use a panel of 407,096 Chinese firms over the period 2000-2005. We estimate dynamic assets growth equations augmented with cash flow, and find that the growth of state owned enterprises is not affected by cash flow, while that of privately owned firms is most affected. Considerin...

Once an economy starts to specialize heavily in the extraction and export of natural resources, several negative repercussions in the wider domestic economy tend to arise. Such problems are often described as the “paradox of plenty” or the “resource curse” and they have occurred both in developed and developing countries. This paper summarizes the current debates surrounding the “resource curse...