Reinventing State Capitalism: Leviathan in Business, Brazil and Beyond

Reinventing State Capitalism: Leviathan in Business, Brazil and Beyond

English | 2014 | ISBN: 0674729684 | 368 Pages | PDF | 3 MB

The wave of liberalization that swept world markets in the 1980s and 90s altered the ways that governments manage their economies. Reinventing State Capitalism analyzes the rise of new species of state capitalism in which governments interact with private investors either as majority or minority shareholders in publicly-traded corporations or as financial backers of purely private firms (the so-called "national champions"). Focusing on a detailed quantitative assessment of Brazil's economic performance from 1976 to 2009, Aldo Musacchio and Sergio Lazzarini examine how these models of state capitalism influence corporate investment and performance.

According to one model, the state acts as a majority investor, granting the state-owned enterprise (SOE) financial autonomy and allowing professional management. This form, the authors argue, has reduced many agency problems commonly faced by state ownership. According to another hybrid model, the state uses sovereign wealth funds, holding companies, and development banks to acquire a small share of equity ownership in a corporation, thereby potentially alleviating capital constraints and leveraging latent capabilities.

Both models have benefits and costs. Yet neither model has entirely eliminated the temptation of governments to intervene in the operation of natural resource industries and other large strategic enterprises. Nevertheless, the longstanding debate over whether private ownership is superior or inferior to state capitalism has become irrelevant, Musacchio and Lazzarini conclude. Private ownership is now mingled with state capital on a global scale.


[Fast Download] Reinventing State Capitalism: Leviathan in Business, Brazil and Beyond

Related eBooks:
2011 Standard Catalog of World Coins 2001-Date
Tools for Computational Finance, Third Edition
Essentials of Economics - Standalone book Ed 10
The Rise and Fall of the Welfare State
Principles of Accounting, 11th Edition
The Price of Global Health: Drug Pricing Strategies to Balance Patient Access and the Funding of Inn
Getting Started in Shares For Dummies, 2nd Australian Edition
Dystopia and Economics : A Guide to Surviving Everything From the Apocalypse to Zombies
Governing the Market: Economic Theory and the Role of Government in East Asian Industrialization
God Goes to Work: New Thought Paths to Prosperity and Profits
Analytics in Smart Tourism Design: Concepts and Methods (Tourism on the Verge)
US Foreign Policy in a Challenging World: Building Order on Shifting Foundations
Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.