Title: Emerging capitalism in Russia and China: implications for Europe

Authors: Sheila M. Puffer, Daniel J. McCarthy, Jeanne L. Wilson

Addresses: College of Business Administration, Northeastern University, 319 Hayden Hall, Boston, MA 02115, USA. ' College of Business Administration, Northeastern University, 319 Hayden Hall, Boston, MA 02115, USA. ' Department of Political Science, Wheaton College, 202 Knapton Hall, Norton, MA 02760, USA

Abstract: This paper compares the evolution of capitalism in Russia and China and the implications of these transitions for Europe. The framework we utilise includes six variables developed by Lane (2006) that provide insights into the types of capitalism developing in each country. We see the role of the state as being pervasive and a major determinant of the progress toward capitalism in both countries. We conclude that the central state role, concurrent with the development of a market sector, constitutes a dualistic approach to capitalism. We provide implications for Europe of the evolving capitalism in these two transitioning economies.

Keywords: Russia; China; market economies; emerging markets; emerging capitalism; international management; transition economies; Europe; implications; central state role.

DOI: 10.1504/EJIM.2007.012922

European Journal of International Management, 2007 Vol.1 No.1/2, pp.146 - 165

Available online: 24 Mar 2007 *

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