Financialization and Enhancement of State Resource Mobilization CapacityLiu Changxi, Gui Yong, Yu Qin
From the financial perspective, this article discusses how China as a developmental government enhances its state capacity under the condition of market economy. Through constructing an analysis framework between financialization and the enhancement of state resource mobilization capacity, this article attempts to systematically discuss the core mechanism that China applies to strengthen state control and resource mobilization ability through the leading financial system. Through facilitating the growth of key financial organizations, appointing shareholding of important financial organizations and senior managers, to mold the economic and political preference of senior managers of financial organizers, control and guide the regulations of the financial market, China has realized its supervision over financial system. Thus, under the effect of financialization mechanism, doubletrack system of interest rate, state’s capacity of controlling and mobilizing resources has been enhanced. It is believed in this article taht, under the state-led financialization model, finance has its unique mechanism in enhancing state capacity, which is of great significance to understanding state developmentism.