Patrimonial capitalism reshapes economies, challenges traditional market systems worldwide.
Structural economic reform in certain countries has created a unique type of capitalism called patrimonial capitalism. This system is influenced by political power and has higher transaction costs and specific rules for exchange. It thrives in non-democratic political environments and is not limited to any specific region. Traditional economic theories are not enough to understand this concept, so a broader framework that includes political science and sociology is needed. This research helps us better understand the political and economic context of structural reform and can guide international cooperation efforts to avoid mistakes made in the past.