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Books > Business & Economics > Economics > Development economics
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State Capitalism - Why SOEs Matter and the Challenges They Face (Hardcover)
Loot Price: R3,390
Discovery Miles 33 900
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State Capitalism - Why SOEs Matter and the Challenges They Face (Hardcover)
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The crises emanating from the Global Financial Crisis and the
COVID-19 Pandemic have underscored, the emergency role of the State
and its smooth, seamless reactivation, for situations when private
activity and markets are disrupted. In many countries, SOEs have
been a crucial part in delivering on that effort as agents of the
State. While SOEs are increasingly sought to play a role during
emergency situations, evidence suggests that they misallocate
capital and mismanage resources. This is indicative of the
conflicts of interests in owning and regulating enterprises as well
as between the commercial and non-commercial objectives of SOEs,
crony capitalism, the private agenda of public officials, internal
management of SOEs, the significant role played by state owned
banks and financial institutions and the conflicts that arise in
the State's primary role vs. its ownership of enterprises. The
studies of eight countries from different regions undertaken for
this book, provide answers to these key policy questions related to
state capitalism. Generalizing from the results of multi-country
studies to arrive at universally applicable predictions,
prescriptions, and policy recommendations, is inherently difficult.
Individual countries are quite different in their socio-economic,
historical, political, and institutional circumstances. So are
their experiences, as the eight country studies highlight, even as
the book attempts to extrude, from available research, the
principal common characteristics of, and practices followed by,
successful SOEs independently of country context. Among other
conditions, the two most important conclusions that can be drawn
from the country studies are that competition and regulation rather
than ownership per se is key to efficiency.
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