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  No Strings Attached: Corporate Welfare, State Intervention, and the Issue of Conditionality

Bulfone, F., Ergen, T., & Kalaitzake, M. (2023). No Strings Attached: Corporate Welfare, State Intervention, and the Issue of Conditionality. Competition & Change, 27(2), 253-276. doi:10.1177/10245294221101145.

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CC_27_2023_Ergen.pdf (Any fulltext), 818KB
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 Creators:
Bulfone, Fabio1, 2, Author           
Ergen, Timur3, Author           
Kalaitzake, Manolis4, 5, Author           
Affiliations:
1Projekte von Gastwissenschaftlern und Postdoc-Stipendiaten, MPI for the Study of Societies, Max Planck Society, ou_1214554              
2Leiden University, The Netherlands, ou_persistent22              
3Wirtschaftssoziologie, MPI for the Study of Societies, Max Planck Society, ou_3363022              
4Politische Ökonomie von Wachstumsmodellen, MPI for the Study of Societies, Max Planck Society, ou_2489691              
5University of Edinburgh, UK, ou_persistent22              

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Free keywords: comparative political economy, industrial policy, monetary policy, privatization, structural power, subsidies
 Abstract: This paper contributes to Comparative Political Economy (CPE) by developing an analytical concept of corporate welfare. Corporate welfare—the transfer of public funds and benefits to corporate actors with weak or no conditionality—is a prominent form of state-business relations that CPE scholarship regularly overlooks and misinterprets. Such transfers should be understood as a structural privilege of business in a globalized post-Fordist capitalism, and an increasingly common strategy through which states attempt to steward national economic dynamism within a highly constrained range of policy options. However, without a well-developed concept of corporate welfare—premised upon the key criterion of conditionality—studies that identify a “return” of the state in industrial planning misrepresent these transfers to business as a reassertion of state influence and control, rather than a reflection of state weakness and subordination. The paper provides the analytical building blocks to properly conceptualize transfers to business, works out the core challenges for empirical research, and provides empirical illustrations of this burgeoning phenomenon from the fields of unconventional monetary policy, privatization, and urban political economy.

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Language(s): eng - English
 Dates: 2022-05-172023
 Publication Status: Issued
 Pages: -
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 Table of Contents: Introduction
Prior art and the need for concept recovery
The centrality of conditionality
Empirical illustrations
Conclusion
Notes
References
 Rev. Type: Peer
 Identifiers: DOI: 10.1177/10245294221101145
 Degree: -

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Title: Competition & Change
Source Genre: Journal
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Pages: - Volume / Issue: 27 (2) Sequence Number: - Start / End Page: 253 - 276 Identifier: ISSN: 1024-5294
ISSN: 1477-2221