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Centre of Development Studies






Dr. Ilias Alami is University Assistant Professor in the Political Economy of Development in the Centre of Development Studies and the Department of Politics and International Studies. Prior to joining Cambridge, he held research and teaching positions at Uppsala University, Maastricht University, and Manchester University. He also held visiting positions visiting positions at the Getulio Vargas Foundation in Sao Paulo (June-Sept 2016), the University of Johannesburg (October-Dec 2016), and Sciences Po Paris (May-June 2022).


His research and teaching interests are in the areas of global political economy, the political economy of money and finance, state capitalism, economic geography, development and international capital flows, North-South relations, financialisation, the geographies of global

finance, theories of the state, techno-industrial policy, and the articulations between race/class/coloniality.


Key publications: 


(Forthcoming) The Spectre of State Capitalism (co-authored with Prof Adam Dixon) (2019)

Money Power and Financial Capital in Emerging Markets: Facing the Liquidity Tsunami, Routledge (RIPE series in Global Political Economy). Shortlisted for the British International Studies Association’s best book in International Political Economy 2020 award.


The ‘wicked’ trinity of late capitalism: governing in an era of stagnation, surplus humanity, and environmental breakdown, Geoforum, special issue ‘Political Ecologies of the Future’ (2023). [co-authored with Jack Copley and Alexis Moraitis]

‘Making Space for the New State Capitalism’ Part I: working with a troublesome category. Environment and Planning A: Economy and Space, Vol. 55, 1, (2023), 63-71 [co-authored with Heather Whiteside, Adam Dixon, and Jamie Peck].

The Color of Money at the Financial Frontier, Review of International Political Economy, Vol. 30, no. 3 (2023), 1073-1097 [co-authored with Vincent Guermond].

Goodbye Washington Confusion, hello Wall Street Consensus: Contemporary State Capitalism and the Spatialisation of Industrial Strategy, New Political Economy Vol. 28, 2, (2023), 223-240 [co-authored with Seth Schindler and Nick Jepson]

International Financial Subordination: a critical research agenda, Review of International Political Economy, 30, no. 4 (2023): 1360-1386 [co-authored with Carolina Alves, Bruno Bonizzi, Annina Kaltenbrunner, Kai Koddenbrock, Ingrid Kvangraven, Jeff Powell]

Uneven and Combined State Capitalism, Environment and Planning A: Economy and Space, Vol. 55(1), (2023) 72-99 [co-authored with Adam Dixon].

“Expropriation of capitalist by state capitalist”: organizational change and the centralization of capital as state property, Economic Geography. Vol. 98, 4, (2022), 303-326 [co-authored with Adam Dixon].

Special Issue Introduction: What is the new state capitalism? Contemporary Politics, Vol. 28, 3, (2022), 245–263, [co-authored with Adam Dixon, Imogen Liu, and Milan Babic]

State Capitalism(s) redux? Theories, tensions, controversies, Competition & Change, Vol.24, 1 (2020): 70-94. [co-authored with Adam Dixon].

Taming Foreign Exchange Derivatives Markets? Speculative Finance and Class relations in Brazil, Development & Change, 50: 5 (2019): 1310-1341

Capital Accumulation and Capital Controls in South Africa: a class perspective, Review of African Political Economy, Vol. 45: 156 (2018): 223-249

Other publications: 

(2022) "Who's in control? Wall Street consensus, state capitalism, and spatialised industrial policy", Developing Economics

(2021) Podcast Interview: "Uneven and combined state capitalism", Global Development Institute Podcast, [with Adam Dixon]

(2021) Podcast interview: "State Theory for De-Orientalizing State Capitalism", Poliko: Conversations in Political Economy

(2020) "Colonial hangover à la française", Colonial Hangover Magazine

(2020) "Thinking Politically about Capital Controls", Marxist Sociology Blog

(2019) “Class matters: Global capital mobility and state power in emerging economies”, E-International Relations

Teaching and Supervisions


Ilias teaches on the MPhil in Development Studies. He convenes a paper on the political economy of money and finance in developmen

Research supervision: 

Ilias is interested in supervising PhD students whose work touches on one or several of the themes listed in his research interests.

Assistant Professor in the Political Economy of Development
University Teaching Officer

Staff Photo

Contact Details
Takes PhD students