This article focuses on state capitalism in Latin America and examines what causes the expropriation of foreign direct investment (FDI) in this region. We argue that leaders’ concerns over their political survival affect FDI expropriation in Latin American countries. Specifically, when leaders sense a higher level of political constraints and political insecurity, they are more likely to take unilateral action, i.e., by expropriating FDI. This argument illustrates one important feature of state capitalism: governments utilize markets to serve political goals.

For most cultural cities located in China’s inner regions, not only deficient public finances but also historic heritage sites hinder the process of urbanization and economic development. How could these cities reverse the circumstantial disadvantages and turn them into exclusive merits that can possibly foster economic development? This paper argues that “adaptive local state capitalism” may be the key to understanding this kind of development process.