Capitalist Diversity in Emerging Economies

Chapter 4 applies the previously introduced categories of comparative capitalism research to distinguish between four types of capitalism in emerging economies. In doing so, the chapter focuses primarily on taking stock of a model of “dependent market economies,” which has emerged primarily in East Central Europe, and a model of “state-permeated market economies,” of which China and India are exemplary. Beyond these typological discussions, it also presents the basic principles of development theory, as can be found above all in the discussion of the so-called “developmental states.” Inevitably, these approaches reduce the complexity of reality, but in doing so they draw attention to certain characteristics and interactions in the first place. In this context, the chapter particularly emphasizes the role of international embeddedness and the limitations of a purely national comparative perspective, which leads to the theories of international political economy.