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State Capital And Private Enterprise
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Book Synopsis State Capital and Private Enterprise by : Daniel C. Kramer
Download or read book State Capital and Private Enterprise written by Daniel C. Kramer and published by Routledge. This book was released on 2019-02-12 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: To what extent can governments supplement private venture capitalists and stimulate the economy by providing money to new entrepreneurs as well as existing enterprises? The UK’s National Enterprise Board (NEB) attempted to do just this, and whilst it gained most publicity through its efforts to bail out ailing giants such as British Leyland and Rolls Royce Aerospace, much of its attention was actually directed to smaller ventures. Originally published in 1988 Professor Kramer reports that the NEB’s record of success was surprisingly good, and that many flourishing undertakings would not be in business today had it not been for the NEB’s efforts. The author goes further, and after discussing the political and economic issues involved in according public aid to private enterprises on a case by case basis, he argues that not only should the UK revive its NEB, but that other countries, notably the United States, could benefit by establishing their own versions of it. Indeed, throughout, the author’s perspective as an outsider makes him peculiarly alive to the relevance of the UK example to a whole range of international cases. As the first scholarly, full-length study of the NEB, this book will be of value to those interested in the relationships between venture capitalists generally and the enterprises in which they take equity. It will also interest those studying the relationship between holding companies and their subsidiaries.
Book Synopsis State Capitalism Vs. Private Enterprise by : Donghua Chen
Download or read book State Capitalism Vs. Private Enterprise written by Donghua Chen and published by . This book was released on 2015 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the efficiency of internal capital markets at state-controlled and privately owned business groups in China. Using highly granular data on within-group capital flows, we document stark differences: while private groups allocate more capital to units with better investment opportunities, state groups do the opposite. Minority shareholders in state owned firms suffer as a result. Product market competition and external monitoring by outside investors help discipline state groups' tendency to ignore investment opportunities. We conjecture that capital allocations at state groups reflect the private career objectives of their chairmen. We show that promotion depends not on increasing profitability but on avoiding layoffs. Consistent with a career motive, we find that capital allocations are used to prop up large and struggling employers, but only if the chairman has a realistic chance of being promoted and if the cost of self-interested behavior is not too high.
Book Synopsis State Capitalism Vs. Private Enterprise by : Donghua Chen
Download or read book State Capitalism Vs. Private Enterprise written by Donghua Chen and published by . This book was released on 2017 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the efficiency of capital allocations at state-controlled and privately owned business groups in China. Using highly granular data on within-group capital transfers, we document stark differences: while private groups allocate more capital to units with better investment opportunities, state groups do the opposite, especially when part of the “national team.” Minority shareholders in state owned enterprises suffer as a result. External monitoring by outside investors helps discipline state groups' tendency to ignore investment opportunities. We trace capital allocation decisions to the objectives of the Chinese Communist Party, which incentivizes managers to maintain social stability. Consistent with the party's policy preferences, capital allocations are used to prop up struggling employers in high-unemployment areas and when many young men enter the local labor market, but the interests of the party and of managers may be misaligned.
Book Synopsis Entrepreneurial State by : Mariana Mazzucato
Download or read book Entrepreneurial State written by Mariana Mazzucato and published by Anthem Press. This book was released on 2015 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: List of Tables and Figures; List of Acronyms; Acknowledgements; Introduction: Thinking Big Again; Chapter 1: From Crisis Ideology to the Division of Innovative Labour; Chapter 2: Technology, Innovation and Growth; Chapter 3: Risk-Taking State: From 'De-risking' to 'Bring It On!'; Chapter 4: The US Entrepreneurial State; Chapter 5: The State behind the iPhone; Chapter 6: Pushing vs. Nudging the Green Industrial Revolution; Chapter 7: Wind and Solar Power: Government Success Stories and Technology in Crisis; Chapter 8: Risks and Rewards: From Rotten Apples to Symbiotic Ecosystems; Chapter 9: So.
Book Synopsis Exporting Capitalism by : Ethan B. Kapstein
Download or read book Exporting Capitalism written by Ethan B. Kapstein and published by Harvard University Press. This book was released on 2022-06-14 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first comprehensive history of America’s attempts to promote international development by exporting private enterprise, a story marked by frequent failure and occasional success. Foreign aid is a primary tool of US foreign policy, but direct financial support and ventures like the Peace Corps constitute just a sliver of the American global development pie. Since the 1940s, the United States has relied on the private sector to carry out its ambitions in the developing world. This is the first full account of what has worked and, more often, what has failed in efforts to export American-style capitalism. Ethan Kapstein draws on archival sources and his wide-ranging experience in international development to provide penetrating case studies from Latin America and East Asia to the former Soviet Union, Afghanistan, and Iraq. After WWII the Truman and Eisenhower administrations urged US companies to expand across the developing world. But corporations preferred advanced countries, and many developing nations, including Taiwan and South Korea, were cool to foreign investment. The Cold War made exporting capitalism more important than ever, even if that meant overthrowing foreign governments. The fall of the Soviet Union brought new opportunities as the United States promoted privatization and the bankrolling of local oligarchs. Following the invasions of Afghanistan and Iraq, the United States believed it had blank slates for building these economies, but ongoing conflict eroded such hopes. Kapstein’s sobering history shows that private enterprise is no substitute for foreign aid. Investors are often unwilling to put capital at risk in unstable countries. Only in settings with stable governments and diverse economic elites can private enterprise take root. These lessons are crucial as the United States challenges China for global influence.
Book Synopsis Private Enterprise in the Development of the Americas by : Spruille Braden
Download or read book Private Enterprise in the Development of the Americas written by Spruille Braden and published by . This book was released on 1946 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Privatization and Control of State-owned Enterprises by : Ravi Ramamurti
Download or read book Privatization and Control of State-owned Enterprises written by Ravi Ramamurti and published by World Bank Publications. This book was released on 1991-01-01 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Pierangelo Maria Toninelli Publisher :Cambridge University Press ISBN 13 :9780521780810 Total Pages :342 pages Book Rating :4.7/5 (88 download)
Book Synopsis The Rise and Fall of State-Owned Enterprise in the Western World by : Pierangelo Maria Toninelli
Download or read book The Rise and Fall of State-Owned Enterprise in the Western World written by Pierangelo Maria Toninelli and published by Cambridge University Press. This book was released on 2000-10-02 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the twentieth-century rise and fall of state-owned enterprises in Western political economy.
Book Synopsis Reinventing State Capitalism by : Aldo Musacchio
Download or read book Reinventing State Capitalism written by Aldo Musacchio and published by Harvard University Press. This book was released on 2014-04-22 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis State Capitalism In Eurasia by : Martin C Spechler
Download or read book State Capitalism In Eurasia written by Martin C Spechler and published by World Scientific. This book was released on 2017-06-16 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book to specify the type of economic system that has arisen in Central Asia, replacing the simplistic ideas of 'petro-state' or 'resource dependent.'The book presents three types of state capitalism now established in the former Soviet Union states of Eurasia — crony, dual-sector, and predatory capitalism. It provides first-hand research based on extensive interviewing in the native languages in five of the six. From the political economic perspective, it surveys the source of resources for these authoritarian regimes, their decision-making, and the disposition of government funds, including corruption.
Book Synopsis Privatization and State-Owned Enterprises by : Paul W. Macavoy
Download or read book Privatization and State-Owned Enterprises written by Paul W. Macavoy and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is divided into three major sections. The first presents a theoretical discussion that underlies the other essays. The second section deals with privatization issues from the perspective of the United States. The third describes research addressed to the U. K. and Canada. In the first chapter, Richard Zeckbauser and Murray Horn develop a wide-ranging theoretical framework for assessing the capabilities and role of state-owned enterprises; it provides a foundation for the analyses that follow. In The Control and Perfonnance o[ State-Owned Enterprises , they describe state-owned enterprises as an extreme case of the separation of ownership and control. The focus is on management --the incentives it faces and the conflicts to which it is subjected. The distinguishing characteristics of public enterprise, the authors suggest, give it a comparative advantage over both public bureaucracy and private enterprise in certain situations. They argue that legislators are more likely to prefer SOEs over private enterprise when the efficiency of private enterprise is undermined by regulation or the tbreat of opportunistic state action, when the informational demands of subsidizing private production to meet distributional objectives are high, when it is difficult to assign property rights, or when state ownership is ideologically appealing. These considerations suggest why SOEs are usually assigned special rights and responsibilities, and they help explain observed regularities in the distribution of SOEs across countries and sectors. Zeckhauser and Horn apply principal-agent theory to identify the key factors underlying the performance of state-owned enterprises.
Book Synopsis American Private Enterprise, Foreign Economic Development, and the Aid Programs by : American Enterprise Institute for Public Policy Research
Download or read book American Private Enterprise, Foreign Economic Development, and the Aid Programs written by American Enterprise Institute for Public Policy Research and published by . This book was released on 1957 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The State and Private Enterprise in African Development by : Xuetong Yan
Download or read book The State and Private Enterprise in African Development written by Xuetong Yan and published by . This book was released on 1992 with total page 714 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Advisory Committee on Private Enterprise in Foreign Aid Publisher : ISBN 13 : Total Pages :66 pages Book Rating :4.:/5 (327 download)
Book Synopsis Foreign Aid Through Private Initiative by : United States. Advisory Committee on Private Enterprise in Foreign Aid
Download or read book Foreign Aid Through Private Initiative written by United States. Advisory Committee on Private Enterprise in Foreign Aid and published by . This book was released on 1965 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Revival of Private Enterprise in China by : Professor Shuanglin Lin
Download or read book The Revival of Private Enterprise in China written by Professor Shuanglin Lin and published by Ashgate Publishing, Ltd.. This book was released on 2012-11-28 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: The re-emergence of private enterprises is one of the most important factors in China's recent economic development. They will play a key role in maintaining China's high growth rate and honouring its commitments to the WTO. Despite this they face obstacles to growth, including borrowing restrictions, high taxes, ineffective legal protection and lack of technical and information support. The authors in this book discuss these obstacles and propose measures for improving private enterprise development. They consider how private enterprises can help China mitigate its macroeconomic problems, such as unemployment, income inequality, financial disintermediation and cyclical boom and bust. Finally they examine the lessons to be learnt from other countries in promoting privatization.
Book Synopsis The Advance of African Capital by : Tom G. Forrest
Download or read book The Advance of African Capital written by Tom G. Forrest and published by University of Virginia Press. This book was released on 1994 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Combining ethnographic and historical perspectives, Tom Forrest examines the strategies and patterns of development employed by business people from the colonial period to the present. Through a series of highly readable case studies, he provides a broad picture of the various forms of capital accumulation and sectoral advances in trade, transport, manufacture, agriculture, finance and other services. These are set within the context of changing economic opportunities, shifts in power and policy, relations with foreign capital, and attitudes towards private business and the state.
Book Synopsis The Venture Capital State by : Robyn Klingler-Vidra
Download or read book The Venture Capital State written by Robyn Klingler-Vidra and published by Cornell University Press. This book was released on 2018-09-15 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Silicon Valley has become shorthand for a globally acclaimed way to unleash the creative potential of venture capital, supporting innovation and creating jobs. In The Venture Capital State Robyn Klingler-Vidra traces how and why different states have adopted distinct versions of the Silicon Valley model. Venture capital seeks high rewards but is enveloped in high risk. The author’s deep investigations of venture capital policymaking in East Asian states (Hong Kong, Taiwan, Singapore) show that success does not reflect policymakers’ ability to replicate the Silicon Valley model. Instead, she argues, performance reflects their skill in adapting a highly lauded model to their local context. Policymakers are "contextually rational" in their learning; their context-rooted norms shape their preferences. The normative context for learning about policy—how elites see themselves and what they deem as locally appropriate—informs how they design their efforts. The Venture Capital State offers a novel conceptualization of rationality, bridging diametrically opposed versions of bounded and conventional rationality. This new understanding of rationality is simultaneously fully informed and context based, and it provides a framework by which analysts can bring domestic factors to the very heart of international diffusion of policy. Klingler-Vidra concludes that states have a visible hand in constituting even quintessentially neoliberal markets.
