Module Note | April 2012 (Revised March 2013)

State Capitalism and State-Owned Enterprise Reform

by Aldo Musacchio


The note examines state capitalism in the twenty-first century. It introduces a series of topics and cases related to state capitalism, such as the debate about the causes of inefficiency in state owned enterprises, possible ways of turning them around, as well as a short discussion of sovereign wealth funds (SWFS), national champions, development banks, etc. The note explicitly links some of these topics to HBS cases designed to dive deeper into each subject.

Keywords: State capitalism; state-owned enterprises; business government relations; political economy; turnarounds; Economic Systems; State Ownership; Business and Government Relations;


Musacchio, Aldo. "State Capitalism and State-Owned Enterprise Reform." Harvard Business School Module Note 712-028, April 2012. (Revised March 2013.)