Abstract:Motivation: There is growing awareness that a new model of capitalism is emerging. The 2008–2009 Global Financial Crisis was a catalyst for redefining the role of the state in the economy, and as a result state involvement in the economy has been on the rise since then. We can also observe changes in political situation: democracy has been backsliding globally, authoritarian, and populist tendencies are growing. In some countries, those two tendencies are present, and as a result the illiberal model of state c… Show more
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