scholarly journals The Success of Pohang Iron and Steel Co. Ltd. (POSCO): Perfecting Internal and External Incentive

1997 ◽  
Vol 12 (0) ◽  
pp. 23-44
Author(s):  
Junki Kim
Keyword(s):  
State Intervention ◽  
The State ◽  
Market Forces ◽  
Incentive Structure ◽  
Managerial Incentive ◽  
Iron And Steel ◽  
The Government ◽  
Internal Incentive ◽  
External Incentive ◽  
Credible Policies

We examine POSCO's success based on the internal and external managerial incentive structure. By internal incentive, we mean institutional foundation under which the interaction between the principal (the government) and the agents (the managers) takes place. This involves examining the political economy of state intervention and how the state employed credible policies intended to end 'politicized' relationship with state-owned enterprises (SOEs). Extrnal incentive structure relates to various exogenous market forces that discipline managers and owners in terms of corporate performance. Combined, they determine the extent to which SOEs face 'hardened budget constraints' and in the case of POSCO, the state was able to enforce credible policies that hardened the budget constraint.

Alcohol and Politics in France

1957 ◽  
Vol 51 (4) ◽  
pp. 976-994 ◽  
Author(s):  
Bernard E. Brown
Keyword(s):  
World War I ◽  
Large Scale ◽  
State Intervention ◽  
Domestic Market ◽  
The State ◽  
State Agency ◽  
The North ◽  
State Monopoly ◽  
The Government ◽  
The Right

“On jongle trop avec la structure d'un Pays qui a été, dans le monde, le défenseur de l'individu, de la liberté, du sens de la mesure. Un petit paysan sur sa terre, n'est-il pas humainement autre chose que le chômeur de demain ou l'ouvrier qui sera condamné à fabriquer toute sa vie des boulons?”Le Betteravier Français, September 1956, page 1.Large-scale state intervention in the alcohol market in France dates from World War I, when the government committed itself to encourage the production of alcohol. Two chief reasons then lay back of this decision: a huge supply of alcohol was needed for the manufacture of gunpowder, and the devastation of the beet-growing regions of the north had severely limited production of beet alcohol, thereby throwing the domestic market out of balance. A law of 30 June 1916, adopted under emergency procedure, established a state agency empowered to purchase alcohol. At the end of the war, a decree of 1919 accorded the government the right “provisionally” to maintain the state monopoly. In 1922 the beetgrowers and winegrowers gave their support to the principle of a state monopoly which, in effect, reserved the industrial market for beet alcohol and the domestic market for viticulture. In 1931 the state was authorized to purchase alcohol distilled from surplus wine.

Forms of Organization of Italian Public Undertakings

1933 ◽  
Vol 27 (6) ◽  
pp. 964-971
Author(s):  
G. Lowell Field
Keyword(s):  
State Intervention ◽  
The State ◽  
Socialist Party ◽  
The Political ◽  
Italian Government ◽  
Economic Production ◽  
Political Interests ◽  
The Government ◽  
Economic Goods ◽  
Direct Management

Contrary to expectation, widespread when the Fascists acceded to power, no notable retreat by the national government from the field of economic undertaking has been witnessed under the present Italian régime. The theoretical advocacy of public ownership of business concerns as a goal in itself has, indeed, passed entirely from the political stage with the suppression of the once powerful Socialist party, but the enterprises already operated by the Italian government have for the most part been continued under Mussolini's administration. Fascist theory concedes the private entrepreneur to be the normal and proper producer and distributor of economic goods. The Fascist attitude toward the government in business is expressed in the doctrine of state intervention. When any phase of the national economy fails to operate properly, the state has a right to intervene, even to the extent of becoming an entrepreneur itself. In the ninth declaration of the Charter of Labor, the Fascist social creed, the doctrine is expressed thus: “The intervention of the state in economic production takes place only when private initiative is lacking or is insufficient or when political interests of the state are involved. Such intervention may assume the form of control, assistance, or direct management.”

The British State and the Structure of Political Opportunity

1988 ◽  
Vol 27 (3) ◽  
pp. 199-231 ◽  
Author(s):  
James E. Cronin
Keyword(s):  
Working Class ◽  
Political System ◽  
Well Being ◽  
State Intervention ◽  
The State ◽  
British Politics ◽  
Male Population ◽  
State Action ◽  
The Government ◽  
British State

The mid-Victorian state was a modest, and only moderately democratic, affair. It was modest both in its size and in what it set out to do. There was no pretense that the government could do much on its own to remedy or compensate for social ills, and there was no party in the land with a serious program of state intervention. This minimalist character of the state, whose restricted ambitions were underpinned by the constraints of Gladstonian finance, was reinforced by its inaccessibility. Political participation was the preserve of a distinct minority, less than 15 percent of the male population after the reform of 1832. The Second Reform Bill of 1867 widened the franchise further, to about 35 percent of men, but political citizenship continued to be denied to the bulk of the working class and to all women.By contrast, few people—scholars or laymen—would attach the label “modest” to the state in the twentieth century, and, for all the flaws and imperfections that reduce its representativeness, it is obviously part of a highly democratic polity. The sphere of state action has expanded enormously since 1850, and, despite the recent efforts of Conservatives, the government still bears responsibility for numerous aspects of its citizens' well-being. Over roughly the same span of years the British political system has been democratized. Successive installations of reform in 1867, in 1884–85, in 1918, and in 1929 have brought first working-class men, then middle-class women, and finally all women into the formal political system. These two processes—the expansion of government and the democratization of British politics—constitute the major transformations in public life in modern Britain.

scholarly journals Reciprocal Duties of the Business Executive and the Government

2014 ◽  
Vol 12 (4) ◽  
pp. 300-325
Author(s):  
Auguste Albregts
Keyword(s):  
State Intervention ◽  
The State ◽  
Economic Organization ◽  
Business Executive ◽  
Social Doctrine ◽  
Economic Process ◽  
The Government

Summary The following article is an attempt by its Author to answer the following question: What are the reciprocal duties of the business executive and the State? After defining the State and pointing to the limits of State intervention, Professor Albregts indicates how government has been called to act more and more on the economic process, and what such a trend means to the business executive. He finally puts forward as a solution the "organic conception" of economic organization based on the Christian social doctrine.

The State and Economic Development in India 1890—1947: The Case of Oil

1979 ◽  
Vol 13 (3) ◽  
pp. 353-375 ◽  
Author(s):  
G. G. Jones
Keyword(s):  
Nineteenth Century ◽  
Economic Development ◽  
Economic History ◽  
Developing Economies ◽  
State Intervention ◽  
The State ◽  
Economic Interests ◽  
Role Of The State ◽  
Commodity Export ◽  
The Government

The role of the State in promoting Indian economic development in the nineteenth century is one of several aspects of modern Indian economic history which have been ‘re-interpreted’ in recent years. The conventional wisdom once portrayed the policy of the British government in India as one essentially geared to serving British economic interests. By means of ‘discriminatory interventionism’ in economic affairs, it was argued, the Government encouraged the development of a primary commodity export economy, with all its attendant defects, in India. However, over the last two decades the reputation of the Government of India has undergone a rather noticeable transformation. Economic imperialists became, first, benevolent nightwatchmen, and then ‘development-orientated’ officials formulating an embryonic unbalanced growth model for Indian development. Parallel with this improvement in the Government of India's reputation has been a deterioration in the economic reputations of certain other governments in nineteenth-century developing economies, governments whose performances used to be favourably compared with that of the British in India. In the cases of Japan and Tsarist Russia, for instance, both the extent and effectiveness of State intervention in the economy has been questioned, and there has been an increasing recognition of the primacy of non-governmental factors in the economic growth of those countries. Given the ideological and organizational parameters limiting the range of possible activity by any nineteenth century government in its economy, the performance of governments in other developing countries of the period, and the political constraints imposed by being a subordinate section of a world-wide Empire, it is no longer possible regard the actions of British officials in India as wicked, and many would now regard them as almost respectable.

Reforming China's Coal Industry

1996 ◽  
Vol 147 ◽  
pp. 726-750 ◽  
Author(s):  
Elspeth Thomson
Keyword(s):  
Economic System ◽  
Economic Reform ◽  
Consumer Goods ◽  
Industrial Sector ◽  
Coal Industry ◽  
The State ◽  
Market Forces ◽  
Reform Programme ◽  
The Government ◽  
State Enterprises

In 1949 the Chinese adopted, almost in total, the former Soviet Union's system of central or command planning. Thirty years later, in 1979, the country embarked on a major economic reform programme aimed largely at correcting problems caused by central planning. The government now sought to create an economic system which would combine the best characteristics of socialist and market economies. Most analysts would agree that the non-grain agricultural and consumer goods sectors have been fully marketized, and quite successfully so, but that the economic reform of the state industrial sector has lagged far behind. Raising the profits and output and productivity levels of the state enterprises has proved extremely difficult, and the government has been reluctant to allow the unrestricted operation of market forces.

scholarly journals METHODS OF ANTI-CRISIS RESTRUCTURING FOR TOWN-FORMING ORGANIZATIONS

2015 ◽  
pp. 88-92
Author(s):  
K. A. Rubanova
Keyword(s):  
State Level ◽  
State Intervention ◽  
Economic Importance ◽  
The State ◽  
Enterprise Restructuring ◽  
Economic Problems ◽  
The Government ◽  
Financial Recovery

A distinguishing feature of town-forming organization is a high socio-economic importance, and therefore very large number of persons, including the government, is interested in its functioning. The economic problems of financial recovery and enterprise restructuring can only be solved at the state level. However, the blind "infusion" of money to any town-forming organizations in a state of crisis is not a solution. The purpose of this work is to considerate the cases of state intervention during the anti-crisis restructuring of town-forming organization and assessment the suitability of such involvement.

Some aspects of the idea of unity V. Solovyov and the present

2000 ◽  
pp. 20-25
Author(s):  
O. O. Romanovsky
Keyword(s):  
Nineteenth Century ◽  
National Policy ◽  
The State ◽  
Place Of Residence ◽  
The Government ◽  
The University ◽  
Temporary Closure

In the second half of the nineteenth century, the nature of the national policy of Russia is significantly changing. After the events of 1863 in Poland (the Second Polish uprising), the government of Alexander II gradually abandoned the dominant idea of ​​anathematizing, whose essence is expressed in the domination of the principle of serving the state, the greatness of the empire. The tsar-reformer deliberately changes the policy of etatamism into the policy of state ethnocentrism. The manifestation of such a change is a ban on teaching in Polish (1869) and the temporary closure of the University of Warsaw. At the end of the 60s, the state's policy towards a five million Russian Jewry was radically revised. The process of abolition of restrictions on travel, education, place of residence initiated by Nicholas I, was provided reverse.

Russia in 2000-2004: Heading towards State Capitalism?

2004 ◽  
pp. 42-65 ◽  
Author(s):  
A. Radygin
Keyword(s):  
The State ◽  
Private Business ◽  
Private Companies ◽  
State Capitalism ◽  
The Government

The paper deals with one of the characteristic trends of the 2000s, that is, the government's property expansion. It is accompanied by attempts to consolidate economic structures controlled by the state and state-owned stock packages and unitary enterprises under the aegis of holdings. Besides the government practices selective severe enforcement actions against a number of the largest private companies, strengthens its control over companies with mixed capital and establishes certain informal procedures of relationships between private business and the state. The author examines the YUKOS case and the business community's actual capacity to protect its interests. One can argue that in all likelihood the trend to the 'state capitalism' in its specific Russian variant has become clearer over 2003-2004.

Transiting into Singaporean identity: Immigration and naturalisation policy

2015 ◽  
Vol 13 (1) ◽  
pp. 33-48 ◽  
Author(s):  
Mathews Mathew ◽  
Debbie Soon
Keyword(s):  
Manpower Planning ◽  
The State ◽  
Comparative Perspective ◽  
Policy Discourse ◽  
Optimal Composition ◽  
Skilled Labour ◽  
Planning Policy ◽  
The Government ◽  
The Ideal

Debates in Singapore about immigration and naturalisation policy have escalated substantially since 2008 when the government allowed an unprecedentedly large number of immigrants into the country. This essay will discuss immigration and naturalisation policy in Singapore and the tensions that have been evoked, and how these policies are a key tool in regulating the optimal composition and size of the population for the state’s imperatives. It will demonstrate that although the state has, as part of its broader economic and manpower planning policy to import labour for economic objectives, it seeks to retain only skilled labour with an exclusive form of citizenship.  Even as the Singapore state has made its form of citizenship even more exclusive by reducing the benefits that non-citizens receive, its programmes for naturalising those who make the cut to become citizens which include the recently created Singapore Citizenship Journey (SCJ) is by no means burdensome from a comparative perspective. This paper examines policy discourse and the key symbols and narratives provided at naturalisation events and demonstrates how these are used to evoke the sense of the ideal citizen among new Singaporeans. 

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