2019 |
Babic, M Reclaiming the commons through state ownership? Maybe not Online Open Democracy 2019. Abstract | Links | BibTeX | Tags: corporate power, corporations, Globalization, state capitalism, State ownership @online{Babic2019c, Is state ownership really a viable alternative for a post-neoliberal, more inclusive and emancipatory global economy? While this is an open question, I lay out three arguments in the following that challenge this emancipatory promise - with the hope of stimulating a discussion about the nature of the role of state ownership in a globalized economy. |
Janssen, Thomas Chinese Firms in the Belt and Road Initiative: Building a Passive Revolution Masters Thesis 2019. Abstract | Links | BibTeX | Tags: Belt and Road, China, corporate power, Ownership, state capitalism, State ownership, states @mastersthesis{Janssen2019,The Belt and Road Initiative is in crisis because many participants are worried about dept trap diplomacy and not sharing equally in the benefits. How can it be then that Chinese companies are still receiving the vast majority of Belt and Road construction contracts? This thesis seeks to contribute to an answer to this question. By invoking the concept of passive revolution as a theoretical lens, it argues that the Chinese elite is more likely to favor contract allocation to companies that are more controlled by it, especially in economic sectors that are more important to their interests. Four categories of companies are constructed on a continuum from most to least central Party controlled. Contracts are split among three sectors that are, domestically, tightly regulated (‘strategic’), less regulated (‘pillar’) and least regulated (‘normal’). The thesis finds that centrally controlled state-owned enterprises account for over 90% of Chinese-funded Belt and Road construction contracts. The Chinese political elite is found to be even more eager to control the Belt and Road than its domestic economy. Future research will have to take stock of, and further examine, why Chinese state-owned companies feature so prominently in the Belt and Road. |
Vermeij, Koen The offshore state: A first large-scale inquiry into the state’s utilization of offshore constructs Masters Thesis 2019. Abstract | Links | BibTeX | Tags: corporate structures, offshore, offshore construct, offshore financial centres, offshore jurisdictions, state capitalism, State ownership, transnational state investment @mastersthesis{Vermeij2019,As a consequence of globalization and financialization, it has become common practice for transnational corporations to develop offshore constructs in order to maximize income and minimize costs and accountability. Offshore constructs allow companies to transfer financial resources across borders to the most advantageous places. The common conception is that this puts states in a game of economic competition. The state’s strategy to deal with this situation is to lower regulatory and fiscal standards in order to develop an inviting destination for capital. This way they facilitate the use of offshore constructs. However, piecemeal evidence suggests that states do not only facilitate offshore constructs, but that they also actively utilize them as owners of capital themselves. This research uses large-scale quantitative data on ownership relations to develop a global image of state’s offshore constructs. The findings indicate that states indeed use offshore constructs on a considerable scale, but that 90% of them belongs to a group of 20 states. It is the first large-scale evidence for the state’s usage of offshore constructs. |