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The Venture Capital StateThe Silicon Valley Model in East Asia$
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Robyn Klingler-Vidra

Print publication date: 2018

Print ISBN-13: 9781501723377

Published to Cornell Scholarship Online: May 2019

DOI: 10.7591/cornell/9781501723377.001.0001

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PRINTED FROM Cornell University Press SCHOLARSHIP ONLINE (www.cornell.universitypressscholarship.com). (c) Copyright University of Cornell University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in Cornell for personal use. date: 19 February 2020

The Future of Venture Capital States

The Future of Venture Capital States

Distinct Interventions to Build Markets

(p.132) 8 The Future of Venture Capital States
The Venture Capital State

Robyn Klingler-Vidra

Cornell University Press

Chapter Eight concludes the book by applying the findings to larger political economy debates. The expectation that contextual rationality empowers unique policy choices stands in contrast to the globalization thesis’ hypothesis regarding the (East Asian developmental) state’s limited ability to choose policies. It also rebuffs the expectation that we are experience international convergence on a single (American) model. The findings demonstrate that pursuit of neoliberal market strategies are clearly not the only means by which local Silicon Valley-like VC markets can be constituted. Rather than a smaller role for the state, in which the state can only create a favorable environment for markets to operate, the manuscript reveals why and how policymakers, ranging from the United States to East Asia, exhibit a visible hand in the market as they pursue purposive action that effectively stimulates early-stage investment activity.

Keywords:   Venture Capital, East Asia, Intervention, Polanyi, Neoliberal, Contextual Rationality, Rationality, Economic growth, Innovation, Job creation

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