2020
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Babic, M Why state capitalism isn’t primarily geopolitical Online International Politics and Society 2020. @online{Babic2020,
title = {Why state capitalism isn’t primarily geopolitical},
author = {M Babic},
url = {https://www.ips-journal.eu/regions/global/article/show/why-state-capitalism-isnt-primarily-geopolitical-4022/},
year = {2020},
date = {2020-01-24},
organization = {International Politics and Society},
keywords = {geoeconomics, geopolitics, Globalization, state capitalism},
pubstate = {published},
tppubtype = {online}
}
|
2019
|
Babic, M; Garcia-Bernardo, J; Heemskerk, E M The rise of transnational state capital: state-led foreign investment in the 21st century Journal Article In: Review of International Political Economy, vol. 27, no. 3, pp. 433-475, 2019. @article{Babic2019db,
title = {The rise of transnational state capital: state-led foreign investment in the 21st century},
author = {M Babic and J Garcia-Bernardo and E M Heemskerk},
url = {https://www.tandfonline.com/doi/full/10.1080/09692290.2019.1665084},
doi = {https://doi.org/10.1080/09692290.2019.1665084},
year = {2019},
date = {2019-10-07},
journal = {Review of International Political Economy},
volume = {27},
number = {3},
pages = {433-475},
abstract = {Cross-border state-led investment is a recently rising, but understudied phenomenon of the global political economy. Existing research employs an anecdotal and case-oriented perspective that does not engage in a systemic, large-scale analysis of this rise of transnational state investment and its consequences for the transformation of state power in 21st century capitalism. We take a first step at filling this gap and offer two original contributions: Conceptually, we operationalize transnational foreign state-led investment on the basis of weighted ownership ties. These state capital ties are created by states as investors in corporations around the world. Empirically, we demonstrate our approach by setting up and analyzing the largest dataset on transnational state capital up to date. We show which different outward strategies states as owners employ and classify states according to their relative positions within the global network of transnational state capital. Our results illustrate a crucial aspect of the ongoing transformation of state power and sovereignty within globalization and we demonstrate how a careful and data-driven approach is able to identify different pathways and dimensions of this transformation.},
keywords = {corporate power, foreign direct investment, Globalization, Ownership, state capitalism},
pubstate = {published},
tppubtype = {article}
}
Cross-border state-led investment is a recently rising, but understudied phenomenon of the global political economy. Existing research employs an anecdotal and case-oriented perspective that does not engage in a systemic, large-scale analysis of this rise of transnational state investment and its consequences for the transformation of state power in 21st century capitalism. We take a first step at filling this gap and offer two original contributions: Conceptually, we operationalize transnational foreign state-led investment on the basis of weighted ownership ties. These state capital ties are created by states as investors in corporations around the world. Empirically, we demonstrate our approach by setting up and analyzing the largest dataset on transnational state capital up to date. We show which different outward strategies states as owners employ and classify states according to their relative positions within the global network of transnational state capital. Our results illustrate a crucial aspect of the ongoing transformation of state power and sovereignty within globalization and we demonstrate how a careful and data-driven approach is able to identify different pathways and dimensions of this transformation. |
Babic, M Reclaiming the commons through state ownership? Maybe not Online Open Democracy 2019. @online{Babic2019c,
title = {Reclaiming the commons through state ownership? Maybe not},
author = {M Babic},
url = {https://www.opendemocracy.net/en/oureconomy/reclaiming-commons-through-state-ownership-maybe-not/},
year = {2019},
date = {2019-07-30},
organization = {Open Democracy},
abstract = { Is state ownership really a viable alternative for a post-neoliberal, more inclusive and emancipatory global economy? While this is an open question, I lay out three arguments in the following that challenge this emancipatory promise - with the hope of stimulating a discussion about the nature of the role of state ownership in a globalized economy.},
keywords = {corporate power, corporations, Globalization, state capitalism, State ownership},
pubstate = {published},
tppubtype = {online}
}
Is state ownership really a viable alternative for a post-neoliberal, more inclusive and emancipatory global economy? While this is an open question, I lay out three arguments in the following that challenge this emancipatory promise - with the hope of stimulating a discussion about the nature of the role of state ownership in a globalized economy. |
Janssen, Thomas Chinese Firms in the Belt and Road Initiative: Building a Passive Revolution Masters Thesis 2019. @mastersthesis{Janssen2019,
title = {Chinese Firms in the Belt and Road Initiative: Building a Passive Revolution},
author = {Janssen, Thomas},
url = {https://corpnet.uva.nl/thesis_janssen_11054603/},
year = {2019},
date = {2019-07-12},
abstract = {The Belt and Road Initiative is in crisis because many participants are worried about dept trap
diplomacy and not sharing equally in the benefits. How can it be then that Chinese companies are
still receiving the vast majority of Belt and Road construction contracts? This thesis seeks to
contribute to an answer to this question. By invoking the concept of passive revolution as a
theoretical lens, it argues that the Chinese elite is more likely to favor contract allocation to
companies that are more controlled by it, especially in economic sectors that are more important to
their interests. Four categories of companies are constructed on a continuum from most to least
central Party controlled. Contracts are split among three sectors that are, domestically, tightly
regulated (‘strategic’), less regulated (‘pillar’) and least regulated (‘normal’). The thesis finds that
centrally controlled state-owned enterprises account for over 90% of Chinese-funded Belt and Road
construction contracts. The Chinese political elite is found to be even more eager to control the Belt
and Road than its domestic economy. Future research will have to take stock of, and further
examine, why Chinese state-owned companies feature so prominently in the Belt and Road.},
keywords = {Belt and Road, China, corporate power, Ownership, state capitalism, State ownership, states},
pubstate = {published},
tppubtype = {mastersthesis}
}
The Belt and Road Initiative is in crisis because many participants are worried about dept trap
diplomacy and not sharing equally in the benefits. How can it be then that Chinese companies are
still receiving the vast majority of Belt and Road construction contracts? This thesis seeks to
contribute to an answer to this question. By invoking the concept of passive revolution as a
theoretical lens, it argues that the Chinese elite is more likely to favor contract allocation to
companies that are more controlled by it, especially in economic sectors that are more important to
their interests. Four categories of companies are constructed on a continuum from most to least
central Party controlled. Contracts are split among three sectors that are, domestically, tightly
regulated (‘strategic’), less regulated (‘pillar’) and least regulated (‘normal’). The thesis finds that
centrally controlled state-owned enterprises account for over 90% of Chinese-funded Belt and Road
construction contracts. The Chinese political elite is found to be even more eager to control the Belt
and Road than its domestic economy. Future research will have to take stock of, and further
examine, why Chinese state-owned companies feature so prominently in the Belt and Road. |
Vermeij, Koen The offshore state: A first large-scale inquiry into the state’s utilization of offshore constructs Masters Thesis 2019. @mastersthesis{Vermeij2019,
title = {The offshore state: A first large-scale inquiry into the state’s utilization of offshore constructs},
author = {Koen Vermeij},
url = {https://corpnet.uva.nl/masters-thesis-koen-vermeij-2/},
year = {2019},
date = {2019-07-11},
abstract = {As a consequence of globalization and financialization, it has become common practice for
transnational corporations to develop offshore constructs in order to maximize income and minimize
costs and accountability. Offshore constructs allow companies to transfer financial resources across
borders to the most advantageous places. The common conception is that this puts states in a game
of economic competition. The state’s strategy to deal with this situation is to lower regulatory and
fiscal standards in order to develop an inviting destination for capital. This way they facilitate the use
of offshore constructs. However, piecemeal evidence suggests that states do not only facilitate
offshore constructs, but that they also actively utilize them as owners of capital themselves. This
research uses large-scale quantitative data on ownership relations to develop a global image of state’s
offshore constructs. The findings indicate that states indeed use offshore constructs on a considerable
scale, but that 90% of them belongs to a group of 20 states. It is the first large-scale evidence for the
state’s usage of offshore constructs.},
keywords = {corporate structures, offshore, offshore construct, offshore financial centres, offshore jurisdictions, state capitalism, State ownership, transnational state investment},
pubstate = {published},
tppubtype = {mastersthesis}
}
As a consequence of globalization and financialization, it has become common practice for
transnational corporations to develop offshore constructs in order to maximize income and minimize
costs and accountability. Offshore constructs allow companies to transfer financial resources across
borders to the most advantageous places. The common conception is that this puts states in a game
of economic competition. The state’s strategy to deal with this situation is to lower regulatory and
fiscal standards in order to develop an inviting destination for capital. This way they facilitate the use
of offshore constructs. However, piecemeal evidence suggests that states do not only facilitate
offshore constructs, but that they also actively utilize them as owners of capital themselves. This
research uses large-scale quantitative data on ownership relations to develop a global image of state’s
offshore constructs. The findings indicate that states indeed use offshore constructs on a considerable
scale, but that 90% of them belongs to a group of 20 states. It is the first large-scale evidence for the
state’s usage of offshore constructs. |