20740: Greening State Capitalism

Western observers coined the phrase “return of state capitalism” to describe the more openly and confident state-interventionist economic policies emerging economies like China, Brazil, and Russia have adopted during a time when such open state interventionism was in retreat in the Global North. Yet, features of so-called ‘state capitalist’ systems have become more evident once again in the Global North too, not just due to the need to tackle the COVID-19 recovery, the transition to a “net zero” economy, but also due to national security concerns and the striving for techno-supremacy. Even traditionally market-based economies like the USA and the UK have reintroduced state tools – most importantly state-owned enterprises (SOEs), sovereign wealth funds (SWFs), and industrial policy (IP) – to pursue industrial transformation with a view of achieving net zero. Political science literature has begun analyzing the formulation and effectiveness of industrial policies in this regard, but management scholarship lags behind. Yet, management scholarship on international business, organizations, innovation, and the state and corporate social responsibility (CSR) have a great deal to contribute to our understanding of the state’s role in greening the economy. The PDW brings together experts from diverse regions and disciplines to explore how state intervention either aids or hinders green transitions. It aims to deepen understanding of state capitalism's role in climate action, particularly in international contexts where local political pressures are diminished.

DAC, Danish Architectural Center
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