A form of capitalism that combines elements of culturally specific imprints—such as employment relations—and globalizing norms—such as international standards of corporate governance (H. W. Yeung (2006) Econ. Geog.). The concept of hybrid capitalism offers a way of combining the focus of the global convergence literature on systemic ‘drivers’ of change with the emphasis on domestic institutional logic found in the ‘varieties-of-capitalism’ approach (Dyson and Padgett (2005) Anglo-German Foundation). H. W. Yeung (2003) argues that Chinese capitalism will mutate to a form of hybrid capitalism.
Subjects: Earth Sciences and Geography.