Reinventing state capitalism: Leviathan in business, Brazil and beyond

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dc.contributor.authorSERGIO GIOVANETTI LAZZARINI
dc.contributor.authorMusacchio, Aldo
dc.coverage.cidadeCambridgept_BR
dc.coverage.paisEstados Unidospt_BR
dc.creatorMusacchio, Aldo
dc.date.accessioned2022-12-20T16:33:55Z
dc.date.available2022-12-20T16:33:55Z
dc.date.issued2014
dc.description.notesEvidênciapt_BR
dc.description.otherThe 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.pt_BR
dc.format.extent368 p.pt_BR
dc.format.mediumDigitalpt_BR
dc.identifier.isbn0674729684pt_BR
dc.identifier.isbn9780674729681pt_BR
dc.identifier.urihttps://repositorio.insper.edu.br/handle/11224/5113
dc.language.isoInglêspt_BR
dc.publisherHarvard University Presspt_BR
dc.rights.licenseO INSPER E ESTE REPOSITÓRIO NÃO DETÊM OS DIREITOS DE USO E REPRODUÇÃO DOS CONTEÚDOS AQUI REGISTRADOS. É RESPONSABILIDADE DOS USUÁRIOS INDIVIDUAIS VERIFICAR OS USOS PERMITIDOS NA FONTE ORIGINAL, RESPEITANDO-SE OS DIREITOS DE AUTOR OU EDITORpt_BR
dc.titleReinventing state capitalism: Leviathan in business, Brazil and beyondpt_BR
dc.typebook
dspace.entity.typePublication
local.subject.cnpqLinguística, Letras e Artespt_BR
local.typeLivropt_BR
relation.isAuthorOfPublication4ee022f9-7466-405d-ae1a-6b1e33f611e8
relation.isAuthorOfPublication.latestForDiscovery4ee022f9-7466-405d-ae1a-6b1e33f611e8
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