State-market Relations Research Articles

Planners as Market Actors: Rethinking State–Market Relations in Land and Property

This paper challenges the dichotomous distinction between planning and the market promoted by mainstream economists, by arguing that markets should be seen as socially constructed not given. Drawing on recent developments in institutional and behavioural economics, it contends that what is required is not for planners to become market actors, but rather to realise they are already “market actors” intricately involved in framing and re-framing property markets. By highlighting planners’ potential to re-make, rather than merely accept, market conditions, the paper calls for state–market relations in land and property to be accorded a central place within the new spatial planning.

Russian Reforms: Comparing the New Economic Policy Period to Post-Soviet Russia

The article compares market reforms during the New Economic Policy (NEP) period in the 1920s to Post-Soviet Russia in relation to the transformation of institutions and economic policy. The consecutive stages in the development of NEP and Post-Soviet Russia are identified. The differences in the ideology and practice of financial stabilization in both periods leading to the production growth under NEP and economic fall in the 1990s are considered. Benefits of the combination of state regulation and market relations at the first stage of NEP and the lack of such combination in the 1990s are demonstrated. At the same time, excessive state intervention in the economy led to the erosion of NEP and hampers economy efficiency in modern Russia.

China during the Great Depression: market, state, and the world economy, 1929-1937

The Great Depression was a global phenomenon: every economy linked to international financial and commodity markets suffered. The aim of this book is not merely to show that China could not escape the consequences of drastic declines in financial flows and trade but also to offer a new perspective for understanding modern Chinese history. The Great Depression was a watershed in modern China. China was the only country on the silver standard in an international monetary system dominated by the gold standard.Fluctuations in international silver prices undermined China's monetary system and destabilized its economy. In response to severe deflation, the state shifted its position toward the market from laissez faire to committed intervention. Establishing a new monetary system, with a different foreign-exchange standard, required deliberate government management; ultimately the process of economic recovery and monetary change politicized the entire Chinese economy. By analyzing the impact of the slump and the process of recovery, this book examines the transformation of state-market relations in light of the linkages between the Chinese and the world economy.

A European Social Model of State-Market Relations - The Ethics of Competition from a “Neo-liberal” Perspective

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Participatory Democracy and Chaebol Regulation in Korea: State-Market Relations under the MDP Governments, 1997–2003

The government-chaebol nexus formed under Democratic Party governments reflects new state-market relations in Korea that are predicated on a democratic model emphasizing participation and equity. The participatory democratic logic of corporate reform assumes that civic organizations, functioning as a third sector, should act as watchdogs and whistle-blowers to correct any unequal market structures.

Building a Global Schoolhouse: International Education in Singapore

This paper takes Singapore and the field of international education as focal points for exploring state-market relations under conditions of globalisation. It examines Singapore's ambitions to become an ‘education hub’ and a provider of international education through the Global Schoolhouse Project. Using an analytical approach from the governmentality school, the paper explores the types of hybrid formations and cosmopolitanism sensibilities arising from both the production and consumption of international education. These cosmopolitanisms and hybridities are read against the geopolitical rationalities that have shaped the Singaporean nation-state. An argument is made for further empirical work into understanding how notions of hybridity are deployed in governance under conditions of globalisation. The Global Schoolhouse Project illustrates the creative and imaginative ways in which the Singaporean nation-state is re-modelling itself in response to the new iterations of global capitalism. The paper highlights the importance of moving beyond zero-sum thinking about the effect of globalisation on the nation-state.

International political economy: state-market relations in a changing global order

Introduction K.C.Dash PART 1: CONTENDING VIEWS OF INTERNATIONAL POLITICAL ECONOMY The Nature of Political Economy R.Gilpin Introduction K.C.DashIntroduction K.C.Dash PART 1: CONTENDING VIEWS OF INTERNATIONAL POLITICAL ECONOMY The Nature of Political Economy R.Gilpin International Politics and International Economics J.A.Frieden & D.A.Lake Liberalism, Interdependence, and Globalization Excerpts from The Wealth of Nations A.Smith Realism and Complex Interdependence R.O.Keohand & J.S.Nye The Invisible Hand vs the Dead Hand B.Lindsey The Rise of the Virtual State R.Rosencrance Economic Nationalism and the State Excerpts from Report on Manufactures A.Hamilton The Theory of Hegemonic Stabilisy and Changes in International Economic Regimes, 1967-1977 R.O.Keohane States and Industrial Transformation P.Evans Sovereignty S.D.Krasner Challenges to the Capitalist System Excerpts from Capital and Communist Manifesto K.Marx & F.Engels The Structure of Dependence T. dos Santos The Future of Global Polarization S.Amin Globalization Under Fire R.Went PART 2: INTERNATIONAL MONETARY RELATIONS Monetary Governance in a Globalized World B.J.Cohen The International Monetary Fund: C.Roe Goddard The Asian Economic Crisis and the Role of the IMF K.C.Dash The Euro Debuts European Money, Global Money, or Both? O.A.Babarinde PART 3: DEVELOPMENT AND THE WORLD BANK The Rise and Fall of the Washington Consensus as a Paradigm for Developing Countries C.Gore A New World Bank for a New Century R.Picciotto Still Waiting: The Failure of Reform at the World Bank B.Rich PART 4: INTERNATIONAL TRADE RELATIONS The Doha Round: Prospects for the Rules-Based Trading System P.Cronin Regionalism, Multilaterialism, and Deeper Integration: Changing Paradigms for Developing Countries R.Z.Lawrence PART 5: TRANSNATIONAL ENTERPRISES AND INTERNATIONAL PRODUCTION Theoretical Perspectives on the Transnational Corporation R.Jenkins Defining the Transnational Corporation in the Era of Globalization C. Roe Goddard PART 6: CONCLUSION Coping with Ecological Globalization H.French The Westfailure System S.Strange

Review of "International Political Economy: State-Market Relations in a Changing Global Order," C. Roe Goddard, Patrick Cronin, & Kishore C. Dash, eds.

Review of "International Political Economy: State-Market Relations in a Changing Global Order," C. Roe Goddard, Patrick Cronin, & Kishore C. Dash, eds.

Governance–Based Analysis Of Regulation

This article surveys current literature on the developing nature of regulatory systems and regulatory reforms, attempts to place such arrangements in the pervasive context provided by public policy processes and institutions, and argues that an explanation of the ‘governance of regulation’ is crucial to an understanding of the strengths and weaknesses of regulatory practice. The article begins by defining the range of meanings of regulation, then goes on to emphasize the importance of the framework of governance within which regulatory policy and practice proceed. The location of regulatory reform in contemporary debates on state–market relations and related managerial reforms is examined. Reference to this framework highlights the significance of the public policy process through which regulatory policies must be delivered, and the key role within that framework of political categories of analysis. The article ends by considering the issue of ‘policy transfer’ between developed and developing economies, and the need for policy–relevant research into regulatory systems and policies in developing countries.

Privatization And Poverty: The Distributional Impact of Utility Privatization

This article examines the effects on poverty of privatization, an impact to which donors have given little attention in their concern with efficiency and markets. The analysis of the distributional impact of privatization activities draws on empirical cases in the utilities sector in a wide range of developing economies, principally in Africa and Latin America. After a critical consideration of the World Bank position on privatization strategies, and the arguments presented by donors on the pro–poor effects of these economic reforms, the article turns to the negative distributional effects. It is argued that privatization has demonstrably damaged the poor, whether through loss of employment and income, or through exclusion from, or reduced access to, basic services. This is mainly because private firms are principally concerned with profits, prices and costs, and are highly selective as to sectors and types of consumer. Meanwhile, the weakness of governance and regulatory capacity in many developing countries lead to poor control of market abuses. The article concludes by proposing that donors should take more account of local variations in state–market relations, and be prepared to give consideration to alternative economic strategies where privatization is not working as intended.

After effectiveness: new directions in the Singapore school system?

The educational reforms being enacted in Singapore can be considered exceptional in that they are being undertaken within a highly effective system. We explore these reforms using Brown and Lauder's ideal-typical analysis of ‘neo-Fordist’ and ‘post-Fordist’ models of national economic development. Singapore's reforms have been extensive, ranging from changes to early childhood education through to tertiary education. We examine the nature of state-market relations in education within the context of Singapore's ‘soft authoritarian’ political culture and assess the chances of success of the reforms.

State-Market relations in East Asia and institution-building in the Asia-Pacific

In the economic development of East Asain countries during the 1980s and 1990s, there has emerged a distinct form of capitalism characterized by active state intervetion in the economy and close state-business relations. This article attempts to identify the key ingredients of the relations between the state and market that has led to industrial development in East Asia. It also explores how these characteristics are reflected institution-building in the Asia-Pacific as, for example, in the case of APEC where conflicts have developed between the Asian and western members in their attempts to promote economic cooperation

Political change and socioeconomic policies in Central America: Patterns of interaction

During the 1980s, two fields of analysis received most attention from political scientists. In Western Europe the crisis of the Keynesian welfare state gave rise to a vast academic and political debate. The discussion developed in a period of political stability. In Latin America the collapse of the authoritarian regimes gave the debates on transitions to democracy a privileged place in the academic and political agenda. Such controversies were held in a context of delayed social and economic problems. During the 1990s, the evolution of the political scenario has modified academic priorities. In Europe the initial debate on state-market relations has been largely replaced by a discussion on new forms of governance in complex societies. The emergent agenda now includes basic political points like institutions and party systems. Meanwhile, the end of the transition processes in Latin America has reopened the door for a discussion on the contents of social and economic policies.' Without considering this debate, it may be extremely difficult to understand the current problems faced by most Latin American countries during the democratic consolidation period.2 This line of reasoning also applies to Central America; nevertheless, this region has remarkable particularities. Developmental models and strategies are not easily exported and what may have been successful in other areas has faced additional difficulties in the social and political context of Central America. The previous patrimonial state model, the level of underdevelopment, the greater class inequalities, the prominent role of armed conflict over the transition period and the diverse degrees of political change have markedly constrained the development of social and economic policies. In addition, this particular situation does not make viable attempts to understand the reality of the area with the analytical tools of mainstream transition theory which were applied to the main South American countries.3

States and Markets: Comparing Japan and Russia

The state's vital role in modernization post-war patterns of state-market relations perestroika and the push toward marketization the Japanese model - limits and lessons for Russia.

State—market relations in late development — the East Asian experience and its relevance to developing countries

The role of the state in development occupies an important, though highly controversial, position in political economic scholarship and debates. The ‘Keynesian revolution’ provided a respectable recipe for state intervention to resuscitate an ailing market economy, stabilize it and accelerate its growth. Keynes was convinced that state intervention was essential for a capitalist economy to weather its inherent cyclical tendency towards crisis. He regarded ‘laissez–faire a legend, a bit of metaphysical thinking’ (cited in Mattick 1969). In western countries, state intervention acquired even greater importance and legitimacy in the post–war period in order to meet the challenges of reconstruction, regulate the economy and provide the institutional arrangements for administered wages and social security. However, the origins of state intervention to restrict or stimulate the market forces and to direct or influence the development process in western countries predate the Keynesian revolution (Pol-anyi 1957, Gerschenkron 1962).

Dualism and Reform in China

According to the dual economy tradition of economic development models, less developed economies at an early stage of development are marked by a dichotomy between a modern sector, in which workers are hired at an institutional wage in numbers that rise with the growth of the industrial capital stock, and a traditional sector, in which workers subsist at an income level that is somewhat below the indus-