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oapen-20.500.12657-399922020-07-15T00:34:55Z Seeking the Best Master Szanyi, Miklós state ownership market economies state investments development policy varieties of capitalism bic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCS Economic systems & structures bic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCP Political economy "The economic crisis of 2008–2009 signaled the end of the post-Washington consensus on restricting the role of the state in economic and development policy. Since then, state ownership and state intervention have increased worldwide. This volume offers a comparative analysis of the evolution of direct state intervention in the economy through state-owned companies in Austria, Brazil, France, Germany, Hungary, Poland, Turkey, Singapore, and Slovenia. Each case study includes substantial explanations of historical, cultural, and institutional contexts. All the contributors point to the complex nature of the current revival in state economic interventions. The few models that are successful cannot hide the potential problems of excessive state intervention, linked to high levels of moral hazard. State-owned enterprises are primary tools of market and price manipulation for political purposes. They can be used outright for rent seeking. Yet state-owned enterprises can also play important roles in prestigious national initiatives, like major public works or high-profile social and sports events. The authors conclude that after the uniform application of democratic market economic principles, the 2000s witnessed a path-dependent departure from standard economic and political operating procedures in developed countries." 2020-07-14T08:28:28Z 2020-07-14T08:28:28Z 2019 book https://library.oapen.org/handle/20.500.12657/39992 eng application/pdf n/a 9789633863220.pdf Central European University Press 10.7829/9789633863220 10.7829/9789633863220 5427f84f-0815-48ff-aac8-56f6200fccab 380 Hungary open access
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"The economic crisis of 2008–2009 signaled the end of the post-Washington consensus on restricting the role of the state in economic and development policy. Since then, state ownership and state intervention have increased worldwide. This volume offers a comparative analysis of the evolution of direct state intervention in the economy through state-owned companies in Austria, Brazil, France, Germany, Hungary, Poland, Turkey, Singapore, and Slovenia. Each case study includes substantial explanations of historical, cultural, and institutional contexts.
All the contributors point to the complex nature of the current revival in state economic interventions. The few models that are successful cannot hide the potential problems of excessive state intervention, linked to high levels of moral hazard. State-owned enterprises are primary tools of market and price manipulation for political purposes. They can be used outright for rent seeking. Yet state-owned enterprises can also play important roles in prestigious national initiatives, like major public works or high-profile social and sports events. The authors conclude that after the uniform application of democratic market economic principles, the 2000s witnessed a path-dependent departure from standard economic and political operating procedures in developed countries."
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