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Types of capitalism

Author

Listed:
  • Danilov, Yu.

    (Department of Economics, Lomonosov Moscow State University, Moscow, Russia)

Abstract

In the proposed article, an attempt is made to expand the classification of the types of capitalism that was formulated in the scientific concepts over the last 30 years. We used the concepts of law and finance, finance and politics, access orders, varieties of capitalism, inclusive growth models, sustainable growth models (which developed in parallel, enriching each other little) to compare criteria for identifying types of capitalism and assess the similarity of descriptions of various types in these concepts. Methodological problems were identified that make difficult or distort the classification of types of capitalism (ignoring the differences in the stages of development; lack of quantitative characteristics; of justification for choosing a more progressive type of capitalism; the presence of distortions due to a number of reasons, including countries falling into deadlocks). Readers are offered the results of a study of Russia's proximity to certain countries in terms of sociocultural characteristics (based on Hofstede's indicators). We assume that in the future Russia needs to focus on those models of capitalism that showed effectiveness in developed countries that are relatively close to Russia in terms of sociocultural parameters.

Suggested Citation

  • Danilov, Yu., 2023. "Types of capitalism," Journal of the New Economic Association, New Economic Association, vol. 60(3), pages 150-170.
    • Handle: RePEc:nea:journl:y:2023:i:60:p:150-170
    DOI: 10.31737/22212264_2023_3_150-170
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    References listed on IDEAS

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    More about this item

    Keywords

    types of capitalism; inequality; populism; law and finance; finance and politics; sustainable development; Hofstede's dimensions;
    All these keywords.

    JEL classification:

    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • P17 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Performance and Prospects
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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