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National oil companies are big business with about 80 percent of the world’s proven oil reserves, and they are crucial to the world’s energy supplies. They are giants, some of the world’s largest companies, measured by market capitalisation, cash flow and investment. Little is known about their modus operandi, how they make decisions about investment and production or about relations with their government-owners. However, it is known that they conduct business with a political mandate, often with multiple long-term objectives, broadly defined and hard to quantify. Unclear mandates give national oil companies leeway to pursue their own distinctive interests, apart from those of the government-owner. As investors, governments are less zealous than private investors. They generally observe multiple objectives, not only return on capital. Therefore, the senior management of national oil companies enjoy more discretionary power and consider longer time horizons than their counterparts in the private sector. The Oil Business and the State explains the practice of state ownership in a capital-intensive industry with high risks and high return, and how these companies act in a market with imperfect competition. This book looks to give readers more insight into the oil industry, into the background of oil exporting countries as well as the economic and political challenges confronting them, including problems of state ownership. The book discusses wider consequences of China replacing the United States as the world’s leading oil importer. It will be of interest to researchers, academics and students in the fields of international business, management history, corporate governance, political economy and economic development of oil-rich countries.
As the digital government field continues to evolve rapidly, scholars and professionals must stay ahead of the curve by developing innovative solutions and gaining comprehensive insights. The global landscape of digital governance is undergoing transformative shifts, necessitating a deep understanding of historical developments, current practices, and emerging trends. This urgent demand for knowledge forms the crux of the problem that the book, Emerging Developments and Technologies in Digital Government, addresses with expert knowledge and insights. The book serves as an indispensable resource for academic scholars grappling with the complexities of digital government. It critically examines historical transitions from technology-centric paradigms to people-centric models, shedding light on the global impact of open data initiatives and the vital role of human-computer interaction in reshaping government websites. For professionals and researchers across disciplines such as library sciences, administrative management, sociology, and information technology, this book becomes a beacon, offering insights and tangible solutions to navigate the multifaceted dimensions of digital government.
In examining the changing role of the French state in the economy between 1981 and 1995 and its impact on business, this text details the governmental policies of nationalization, privatization, deregulation, and European integration.
This book examines the extent of free trade within the EEC and attempts to establish the conditions under which a State may operate in the Market through the medium of the undertakings which it controls. It discusses the ways in which Member States may tamper with free market forces without infringing the principle of free competition, and whether state liability can be established for such actions. It also assesses the separate liability of both public and private enterprises which operate under such a heavily state-regulated environment that a certain anti-competitive behaviour is virtually imposed upon them. The book concludes that the system as it operates is not as successful as it might be and that the Council of Ministers and the Commission should set guidelines for co-ordinated action in order to avoid national policies leading to a rejection of the free-market principle.
The present study aims to contribute to an understanding of European industrial policy by introducing an historical perspective. National policy continuities and the considerable time over which industrial performance responds to changed environments emerge with greater clarity in the long run. The chapters in this book take a broad view of industrial policy, including those policies that establish the framework', such as competition law, as well as sector for firm specific policies.
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.
CD-ROM contains two appendices: The relevance of history for contemporary French public management of society (I-XX centuries) -- Bibliography, public management of society.