Book contents
- A Handbook of Primary Commodities in the Global Economy
- A Handbook of Primary Commodities in the Global Economy
- Copyright page
- Contents
- Figures
- Tables
- Acknowledgments
- Introduction
- 1 The Historical Framework
- 2 The Geography of Commodity Production and Trade
- 3 Comparative Advantage and Trade Policy Distortions
- 4 Fossil Fuels
- 5 Price Formation and Price Trends in Commodities
- 6 Commodity Booms
- 7 Commodity Exchanges, Commodity Investments and Speculation
- 8 Sustainability and the Threats of Resource Depletion
- 9 Fears of and Measures to Assure Supply Security
- 10 Producer Cartels in International Commodity Markets
- 11 Public Ownership of Commodity Production
- 12 The Monoeconomies: Issues Raised by Heavy Dependence on Commodity Production and Exports
- References
- Index
11 - Public Ownership of Commodity Production
Published online by Cambridge University Press: 06 November 2020
- A Handbook of Primary Commodities in the Global Economy
- A Handbook of Primary Commodities in the Global Economy
- Copyright page
- Contents
- Figures
- Tables
- Acknowledgments
- Introduction
- 1 The Historical Framework
- 2 The Geography of Commodity Production and Trade
- 3 Comparative Advantage and Trade Policy Distortions
- 4 Fossil Fuels
- 5 Price Formation and Price Trends in Commodities
- 6 Commodity Booms
- 7 Commodity Exchanges, Commodity Investments and Speculation
- 8 Sustainability and the Threats of Resource Depletion
- 9 Fears of and Measures to Assure Supply Security
- 10 Producer Cartels in International Commodity Markets
- 11 Public Ownership of Commodity Production
- 12 The Monoeconomies: Issues Raised by Heavy Dependence on Commodity Production and Exports
- References
- Index
Summary
State-owned enterprises account for sizable shares of global supply in many commodities. There is a common belief that these enterprises behave differently from privately owned supply agents. This claim must be investigated, which is the main aim of this chapter. The chapter continues by clarifying a few methodological issues. How precisely is state enterprise defined? We subsequently explore the motivations for establishing public ownership in the mineral and energy sectors, in industrialized as well as developing countries. Then, after pointing to the features that characterize state-owned mineral firms, we analyze the likely impact of state ownership in minerals and energy on the domestic economy, providing in the process the rationales for the wave of privatizations in metals and minerals and the shrinkage of state-owned enterprise in these industries after 1980. The chapter ends by discussing the impact of state ownership on the international markets for minerals and oil.
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- A Handbook of Primary Commodities in the Global Economy , pp. 227 - 255Publisher: Cambridge University PressPrint publication year: 2020