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State capital in a geoeconomic world: mapping state-led foreign investment in the global political economy.
- Source :
- Review of International Political Economy; Feb2023, Vol. 30 Issue 1, p201-228, 28p
- Publication Year :
- 2023
-
Abstract
- What are the consequences of the rise of foreign state-led investment for international politics? Existing research oscillates between a 'geopolitical' and a 'commercial' logic driving this type of investment and remains inconclusive about its wider international reverberations. In this paper, I suggest going beyond this dichotomy by analyzing its systemic consequences. To do so, I conceptually delineate a geoeconomic approach that emphasizes the globalized nature of foreign state investment. I argue that foreign state investment creates system-level patterns, which can be studied by observing similar sectoral and geographic investment behavior. I map this phenomenon globally for the first time, drawing on the largest dataset on foreign state investment. Empirically, I show how foreign state investment is highly concentrated in Europe, North America and East Asia, and is owned by a handful of dominant states. It is especially European geo-industrial clusters that represent the hotspots of such concentration. The findings also suggest that three global industries – energy production, high-tech manufacturing, and transportation and logistics – form the key areas for current and future state-led investment concentration. With these contributions, the paper illuminates the increasing presence of states as owners in the global political economy, and facilitates its study as a geoeconomic phenomenon. [ABSTRACT FROM AUTHOR]
- Subjects :
- FOREIGN investments
WORLD maps
GEOTOURISM
INTERNATIONAL competition
Subjects
Details
- Language :
- English
- ISSN :
- 09692290
- Volume :
- 30
- Issue :
- 1
- Database :
- Complementary Index
- Journal :
- Review of International Political Economy
- Publication Type :
- Academic Journal
- Accession number :
- 162103186
- Full Text :
- https://doi.org/10.1080/09692290.2021.1993301