Leviathan in business
varieties of state capitalism and their implications for economic performance
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Author
Contributions
- Lazzarini, Sergio G. - Contributor
Publication
2012 - Harvard Business School, Boston, Massachusetts
Language
English
Word Count
15,500 words, Guess
Page Count
62 pages
Identifiers
- OCLC Control Number802826532
- Open LibraryOL43965198M
Description
In this paper we document the extent and reach of state capitalism around the world and explore its economic implications. We focus on governmental provision of capital to corporations - either equity or debt - as a defining feature of state capitalism. We present a stylized distinction between two broad, general varieties of state capitalism: one through majority control of publicly traded companies (e.g. state-controlled SOEs) and a hybrid form that relies on minority investments in companies by development banks, pension funds, sovereign wealth funds, and the government itself. We label these two alternative modes Leviathan as a majority investor and Leviathan as a minority investor, respectively. Next we differentiate between these two modes by describing their key fundamental traits and the conditions that should make each mode more conducive to development and superior economic performance.
Series Statement
- Working paper / Harvard Business School -- 12-108
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