Dr. Ilias Alami, Assistant Professor in the Political Economy of Development at the Department of Politics and International Studies (POLIS) at the University of Cambridge, has been awarded the British International Studies Association (BISA) – International Political Economy Working Group (IPEG) 2025 Book Prize for his co-authored work, The Spectre of State Capitalism (Oxford University Press).
The annual prize recognises the most significant and influential book in the field of International Political Economy. The selection committee praised the book as an "agenda-setting" contribution across numerous fields, including the rise of China, the future of the developmental state, and the evolution of neoliberalism.
The judges' citation highlighted the book's success in providing clarity to the "often invoked but ambiguously articulated claims of a 'new state capitalism' having emerged globally." Furthermore, the committee noted that Alami’s work masterfully weaves together research strands around industrial policy, the role of the state in the economy, and changes to the financial system, while still acknowledging the "continued ambiguities" in the future direction of global political economy.
A leading scholar in global political economy and development studies, Dr. Alami is a valued member of the POLIS faculty and the Centre of Development Studies. His research focuses on the political economy of money and finance, state capitalism, and North-South relations.
The Department extends its warmest congratulations to Dr. Alami and his co-author, Professor Adam Dixon, on this major scholarly achievement.
Dr. Alami’s book, The Spectre of State Capitalism, is published by Oxford University Press.