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Manipulating GlobalizationThe Influence of Bureaucrats on Business in China$
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Ling Chen

Print publication date: 2018

Print ISBN-13: 9781503604797

Published to Stanford Scholarship Online: January 2019

DOI: 10.11126/stanford/9781503604797.001.0001

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PRINTED FROM STANFORD SCHOLARSHIP ONLINE (www.stanford.universitypressscholarship.com). (c) Copyright Stanford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in SSO for personal use.date: 23 September 2021

Varieties of Local Capitalism in Historical Perspective

Varieties of Local Capitalism in Historical Perspective

Chapter:
(p.131) Chapter 6 Varieties of Local Capitalism in Historical Perspective
Source:
Manipulating Globalization
Author(s):

Ling Chen

Publisher:
Stanford University Press
DOI:10.11126/stanford/9781503604797.003.0006

This chapter traces the historical roots of local variation by chronologically and cross-sectionally placing China in a comparative historical perspective. It compares varieties of local capitalism in China across four periods: the late Qing and early Republican period, the Mao era, the post-Mao period, and the globalized era. It explores how the historically entrenched top-down and bottom-up modes of capitalism have conditioned local government preferences, as well as their reaction to centrally driven development initiatives, leading them to attract foreign firms in the globalized era. The narrowly selective development strategies based on top-down capitalism were more effective in the industrial transformation during the preglobalized era before the 1990s. The influx of FDI since then, however, has unleashed new complexity so that cultivating bottom-up, broadly supportive networks with small firms was more likely to provide an institutional environment for the competitiveness of domestic private businesses.

Keywords:   path dependence, historical institutionalism, preferences, varieties of capitalism, government–business relations

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