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Transcript 
Bruno Meyerhof Salama
FGV Law School, São Paulo, Brazil
Conference on States, Development, and Global Governance
University of Wisconsin-Madison
May 6-7, 2011
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State is back in business
FEX controls
3 elements
 Critical
 Descriptive
 Normative
Comunism
Second
World
First World
Third World
Ideological
Libertarianism
State Capitalism
Market Capitalism
Non-Ideological
Heterodoxy
Orthodoxy
State Capitalist
Policies
Market Capitalist
Policies
•Keynesian Macroeconomic Argument •Neoclassic Economic Argument
•Market Failure Argument
•Public Choice Argument
Institutional Design: Efficiency
Governance: Legality & Legitimacy
Free Market
U
S
A
Legal
Governance
C
h
i
n
a
Interventive
States
Administrative
Governance
Interventive States
Free Market
Legal Governance >
Administrative governance <
Positive Variable: Degree of democractic entrenchment
Administrative
Interventionism
China
Governance
Legal
Institutional Design
Brazil
Free Market
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