This work details the growing phenomenon of state capitalism, a system in which governments drive local economies through ownership of market-dominant companies. This trend, Bremmer argues, threatens America's competitive edge and the conduct of free markets everywhere.

The study investigates how financial sector transparency moderates the influence of financial crises on bank market power across seventy-five economies between 2004 and 2014. Employing two-step dynamic system generalized method of moments the study shows that while public sector-led financial...