State Capitalism, Institutional Adaptation, and the Chinese Miracle

This volume explores how Chinese institutions have adapted to the new challenges of 'state capitalism'.

Barry Naughton (Edited by), Kellee S. Tsai (Edited by)

9781107081062, Cambridge University Press

Hardback, published 9 June 2015

288 pages, 46 b/w illus.
23.5 x 16 x 2 cm, 0.57 kg

'This volume takes on the timely issue of the nature of China's state capitalism and traces the state's role across a wide range of policy arenas from the welfare state to industrial upgrading. Against the backdrop of other Asian miracles, this book illuminates the complex and often contradictory roles of the state in China's capitalism.' Douglas Fuller, University of Miami

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.

1. Introduction: state capitalism and the Chinese economic miracle Kellee S. Tsai and Barry Naughton
Part I. Evolution of the State Sector: 2. State-owned business and party-state regulation in China's modern political economy Margaret M. Pearson
3. The transformation of the state sector: SASAC, the market economy, and the new national champions Barry Naughton
Part II. Outcomes and Processes: 4. Stability, asset management, and gradual change in China's reform economy Doug Guthrie, Zhixing Xiao and Junmin Wang
5. The emergence and evolution of Chinese business groups: are pyramidal groups forming? Dylan Sutherland and Ning Lutao
6. Competition and upgrading in Chinese industry Loren Brandt and Eric Thun
Part III. The Big Picture: Historical, Social, and Systemic Perspectives: 7. Explaining the dynamics of change: transformation and evolution of China's public economy through war, revolution, and peace, 1928–2008 Morris L. Bian
8. The evolution of a welfare state under China's state capitalism Mark W. Frazier
9. Did China follow the East Asian development model? Andrea Boltho and Maria Weber.

Subject Areas: International business [KJK], Political economy [KCP], International economics [KCL], Comparative politics [JPB]