Varieties of Asian Capitalism and Federalism : Comparing the Politics of Indian and Chinese Securities Finance
This paper compares the development of securities finance (stocks and bonds) in India and China during the explosive years of global financial change in the 1990s. In what follows I evaluate some simple inferences about the causes of variation in these two countries’ patterns of financial change with particular reference to the politics of securities finance. My conclusions reveal how the institutional development of securities finance in the 1990s shaped the choices available to these countries’ leaders regarding the varieties of capitalism and federalism that are today taking shape in China and India. The paper draws on a larger study of the politics of an increasingly common global trend - the shift toward securities finance. It is a comparative and international political economy study of 'securitization.' Here 'securitization' refers not to the now well-known sale of tradable claims on sub-prime US housing mortgages, but instead, to the long-term structural shift from credit-based finance (banking) to securities-based finance (stocks and bonds) - using China and India as examples of developmental states in late industrialization. I propose a necessary revision to Gerschenkron’s thesis on finance and state power in late industrialization, accounting for the growing role of securities finance
Year of publication: |
2009
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Authors: | Rudolph, Matthew |
Publisher: |
[S.l.] : SSRN |
Subject: | China | Indien | India | Asien | Asia | Vergleich | Comparison | Föderalismus | Federalism | Kapitalismus | Capitalism |
Description of contents: | Abstract [papers.ssrn.com] |
Saved in:
Extent: | 1 Online-Ressource |
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Series: | |
Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 2009 erstellt Volltext nicht verfügbar |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10014205283
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