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State-owned enterprise

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application of the incomplete contract theory to the issue of state-owned enterprises. These authors compare a situation in which the government is in control of a firm to a situation in which a private manager is in control. The manager can invest to come up with cost-reducing and quality-enhancing innovations. The government and the manager bargain over the implementation of the innovations. If the negotiations fail, the owner can decide about the implementation. It turns out that when cost-reducing innovations do not harm quality significantly, then private firms are to be preferred. Yet, when cost-reductions may strongly reduce quality, state-owned enterprises are superior. Hoppe and Schmitz (2010) have extended this theory in order to allow for a richer set of governance structures, including different forms of
3369: 3379: 187: 25: 689: 541:. The Belarusian state-owned economy includes enterprises that are fully state-owned, as well as others which are joint-stock companies with partial ownership by the state. Employment in state-owned or state-controlled enterprises is approximately 70% of total employment. State-owned enterprises are thus a major factor behind Belarus's high employment rate and a source of stable employment. 299:. The two main definitions of GLCs are dependent on the proportion of the corporate entity a government owns. One definition purports that a company is classified as a GLC if a government owns an effective controlling interest (more than 50%), while the second definition suggests that any corporate entity that has a government as a shareholder is a GLC. 414:(such as monitoring costs, i.e., it is more difficult and costly to govern and regulate an autonomous SOE than it is the public bureaucracy). Evidence suggests that existing SOEs are typically more efficient than government bureaucracy, but that this benefit diminishes as services get more technical and have less overt public objectives. 357:
while they can simultaneously achieve a public objective. For that reason, SOEs primarily operate in the domain of infrastructure (e.g. railway companies), strategic goods and services (e.g. postal services, arms manufacturing and procurement), natural resources and energy (e.g. nuclear facilities,
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and his co-authors. In a world in which complete contracts were feasible, ownership would not matter because the same incentive structure that prevails under one ownership structure could be replicated under the other ownership structure. Hart, Shleifer, and Vishny (1997) have developed the leading
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The terminology around the term state-owned enterprise is murky. All three words in the term are challenged and subject to interpretation. First, it is debatable what the term "state" implies (e.g., it is unclear whether municipally owned corporations and enterprises held by regional public bodies
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SOEs can also help foster industries that are "considered economically desirable and that would otherwise not be developed through private investments". When nascent or 'infant' industries have difficulty getting investments from the private sector (perhaps because the good that is being produced
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China's SOEs perform functions such as: contributing to central and local governments revenues through dividends and taxes, supporting urban employment, keeping key input prices low, channeling capital towards targeted industries and technologies, supporting sub-national redistribution to poorer
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Thus, SOEs are known under many other terms: state-owned company, state-owned entity, state enterprise, publicly owned corporation, government business enterprise, government-owned company, government controlled company, government controlled enterprise, government-owned corporation,
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exist), the government can help these industries get on the market with positive economic effects. However, the government cannot necessarily predict which industries would qualify as such 'infant industries', and so the extent to which this is a viable argument for SOEs is debated.
653:, and membership included the Minister of Finance II, the Minister in the Prime Minister's Department in charge of the Economic Planning Unit, the Chief Secretary to the Government, Secretary General of Treasury and the heads of each of the GLICs (the Employees Provident Fund, 2167: 2896: 2666: 3444: 3334: 2020: 1990: 1895: 2811: 3595: 2651: 2015: 3560: 3344: 463:, countries adopted very similar policies and models to the USSR. Governments in Western Europe, both left and right of centre, saw state intervention as necessary to rebuild economies shattered by war. Government control over 422:
Compared to a regular enterprise, state-owned enterprises are typically expected to be less efficient due to political interference, but unlike profit-driven enterprises they are more likely to focus on government objectives.
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Compared to government bureaucracy, state owned enterprises might be beneficial because they reduce politicians' influence over the service. Conversely, they might be detrimental because they reduce oversight and increase
252:, without implying any special interference). Finally, the term "enterprise" is challenged, as it implies statutes in private law which may not always be present, and so the term "corporations" is frequently used instead. 644:
launched a GLC Transformation Programme for its linked companies and linked investment companies ("GLICs") on 29 July 2005, aiming over a ten-year period to transform these businesses "into high-performing entities". The
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are considered state-owned). Next, it is contestable under what circumstances a SOE qualifies as "owned" by a state (SOEs can be fully owned or partially owned; it is difficult to determine categorically what level of
3303: 2261: 1835: 3408: 1885: 591:. China's state-owned enterprises generally own and operate public services, resource extraction or defense. As of 2017, China has more SOEs than any other country, and the most SOEs among large national companies. 3600: 3459: 2580: 2195: 2157: 588: 1900: 1795: 1985: 3000: 2922: 1950: 3610: 3555: 3093: 2686: 2529: 2306: 3570: 3550: 3522: 3479: 3339: 2969: 2965: 3489: 3298: 2544: 2496: 2393: 2388: 3590: 3545: 2005: 3585: 3565: 3308: 2726: 2501: 2353: 2162: 2000: 3253: 3218: 3173: 2961: 2826: 2631: 2506: 2010: 3143: 3138: 3033: 2841: 2731: 2661: 2453: 1890: 1840: 1800: 3263: 3238: 3153: 3133: 3083: 3043: 2901: 2821: 2786: 2771: 2756: 2711: 2646: 2423: 2383: 2363: 2343: 2246: 1975: 1970: 1965: 1820: 2952: 1955: 3349: 3223: 2776: 2534: 2358: 2134: 2079: 1960: 1875: 1850: 3454: 3293: 3198: 3178: 3168: 3068: 2876: 2851: 2696: 2676: 2641: 2626: 2554: 2539: 2486: 2438: 2433: 2408: 2266: 2124: 2114: 2099: 1925: 1860: 1830: 1805: 2524: 3605: 3504: 3268: 3183: 3163: 3048: 3038: 2948: 2939: 2930: 2861: 2831: 2816: 2801: 2781: 2746: 2741: 2691: 2636: 2611: 2463: 2413: 2373: 2326: 2321: 2291: 2286: 2271: 2256: 2251: 2241: 2236: 2231: 2226: 2104: 2084: 1940: 1935: 1865: 1845: 3580: 3499: 3148: 3128: 3118: 3078: 3063: 3058: 2871: 2866: 2806: 2761: 2721: 2616: 2549: 2491: 2428: 2378: 2348: 2316: 2276: 2109: 1880: 1870: 1810: 3494: 3484: 3474: 3464: 3354: 3273: 3233: 3208: 3188: 3088: 2926: 2846: 2796: 2751: 2736: 2716: 2706: 2681: 2621: 2443: 2368: 2338: 2094: 2053: 1930: 1855: 1771: 3575: 3527: 3449: 3193: 3158: 3113: 3108: 2856: 2766: 2656: 2119: 1825: 1316:
Quote: «The wars and depressions between 1914 and 1950 dragged the wealthy back to earth. Wars brought physical destruction of capital, nationalisation, taxation and inflation»
3415: 2587: 2202: 3007: 1617: 1297: 677:(PAGCOR) is the most profitable state-owned enterprise in the Philippines. It is the third largest contributor to government revenues, following taxes and customs. 2046: 1764: 534:; the state answers for the liabilities. Stocks of the corporation are not sold and loans have to be government-approved, as they are government liabilities. 38:
subscriptions probably needed to access much of the research, and familiarity with the technical diction common in reliable sources would be a major asset.
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government bought in 1988, changing its name from Arabian American Oil Company to Saudi Arabian Oil Company. The Saudi government also owns and operates
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to remote locations that otherwise have trouble attracting private vendors. The national or state/provincial government will hold either all or majority
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As of at least 2024, an Ethiopian SOE is Africa's largest and most profitable airline, as well as Ethiopia's largest earner of foreign exchange.
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A state-run enterprise may operate differently from an ordinary limited liability corporation. For example, in Finland, state-run enterprises (
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Profiles of Existing Government Corporations—A Study Prepared by the U.S. General Accounting Office for the Committee on Government Operations
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Hoppe, Eva I.; Schmitz, Patrick W. (2010). "Public versus private ownership: Quantity contracts and the allocation of investment tasks".
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Voorn, Bart; Van Thiel, Sandra; van Genugten, Marieke (2018). "Debate: Corporatization as more than a recent crisis-driven development".
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China's SOEs are at the forefront of global seaport-building, and most new ports constructed by them are done within the auspices of the
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interior and western provinces, and aiding the state's response to natural disasters, financial crises and social instability.
3053: 1646: 1558: 1521: 1199: 3439: 3228: 3103: 1682: 1259: 1217: 260:, commercial government agency, state-privatised industry public sector undertaking, or parastatal, among others. In some 3631: 3243: 2701: 778: 629: 619: 41: 2791: 2311: 2296: 2129: 718: 432: 1439: 1389: 1342: 3636: 3313: 3248: 3213: 2458: 2448: 2418: 2403: 2398: 2301: 2089: 1815: 713: 230: 1043: 212: 3123: 3098: 3073: 582: 318:, the question of whether a firm should be owned by the state or by the private sector is studied in the theory of 1722: 1703: 553:
countries, the governments own the oil companies operating on their soil. A notable example is the Saudi Arabian
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may aim to make transportation more accessible and earn profit for the government), and they can be considered
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Starting in the late 1970s and accelerating through the 1980s and 1990s many of these corporations were
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over their operations. Defining characteristics of SOEs are their distinct legal form and possession of
1673:, Washington, DC: U.S. Government Printing Office, 1988, p. 301, GAO/AFMD-89-43FS Document: H402-4 662: 650: 472: 1547:
China and Eurasian Powers in a Multipolar World Order 2.0: Security, Diplomacy, Economy and Cyberspace
1733: 957:"New development: Corporatization of local authorities in England in the wake of austerity 2010–2016" 512: 476: 54: 1102: 3025: 2071: 654: 599: 1734:
State-owned enterprises and the political economy of state–state relations in the developing world
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Grossi, Giuseppe; Reichard, Christoph (2008). "Municipal corporatization in Germany and Italy".
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Shahab Uddin, Shanjida (2023). "Bangladesh and Belt and Road Initiative: Strategic Rationale".
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would qualify an entity to be considered as state-owned since governments can also own regular
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GLCs succesfully [sic] complete and graduate from 10-year GLC Transformation Programme
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Committee on GLC High Performance ("PCG"), which oversaw this programme, was chaired by the
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is highlighted in the predominant local terminology, with SOEs in Canada referred to as a "
520: 8: 3323: 2145: 1588: 863:"The efficiency and effectiveness of municipally owned corporations: A systematic review" 261: 135: 123: 91: 1455: 1405: 1358: 1467: 1417: 1370: 1279: 1237: 1123: 1024: 979: 937: 836: 538: 363: 354: 151: 131: 111: 1085: 3393: 3378: 1642: 1564: 1554: 1527: 1517: 1471: 1459: 1421: 1409: 1374: 1362: 1158: 1115: 1066: 1028: 983: 941: 840: 816: 411: 358:
alternative energy delivery), politically sensitive business, broadcasting, banking,
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to citizens at a lower price, implement government policies, and/or to deliver
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SOEs are also frequently employed in areas where the government wants to levy
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Ferry, Laurence; Andrews, Rhys; Skelcher, Chris; Wegorowski, Piotr (2018).
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The act of turning a part of government bureaucracy into a SOE is called
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requires very risky investments, when patenting is difficult, or when
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State-owned Asset Supervision and Administration Commission (SASAC)
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CPC Futures The New Era of Socialism with Chinese Characteristics
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Voorn, Bart; Van Genugten, Marieke L.; Van Thiel, Sandra (2017).
516: 492: 1178:"State-Owned Enterprises: Trade Effects and Policy Implications" 34:
needs attention from an expert in economics, business or law
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The Ripple Effect: China's Complex Presence in Southeast Asia
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China's state-owned enterprises are owned and managed by the
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Kowalski, P.; BĂŒge, M.; Sztajerowska, M.; Egeland, M.
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Profiles of Existing Government Corporations, pp. 1–16
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State-owned enterprises are a major component of the
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established to pursue financial objectives from the
3015: 1253: 1251: 1083: 417: 154:goals and developmental objectives (e.g., a state 1205:. Journal of political economy. pp. 295–305. 3623: 1620:, published 7 August 2015, accessed 29 July 2023 1248: 1209: 1732:Jewellord Nem Singh; Geoffrey C. Chen (2018), " 910:, published 17 June 2020, accessed 29 July 2023 1257: 1215: 1197: 1084:Hart, O.; Shleifer, A.; Vishny, R. W. (1997). 919: 815:Tavares, AntĂłnio F.; CamĂ”es, Pedro J. (2007). 628:, government enterprises exist in the form of 455:throughout the 20th century, especially after 3409: 3001: 2581: 2196: 2047: 1765: 913: 814: 2169:South Georgia and the South Sandwich Islands 1544: 1506:Pieke, Frank N.; Hofman, Bert, eds. (2022). 1258:Shleifer, Andrei; Vishny, Robert W. (1994). 1216:Shleifer, Andrei; Vishny, Robert W. (1994). 1169: 1140: 904:Institute for Democracy and Economic Affairs 808: 675:Philippines Amusement and Gaming Corporation 544: 1505: 856: 854: 146:of these enterprises, and often has direct 3416: 3402: 3008: 2994: 2588: 2574: 2203: 2189: 2054: 2040: 1772: 1758: 1744:The Public Firm with Managerial Incentives 1581: 1483: 1481: 990: 668: 283:" (GLC) is sometimes used, for example in 1601: 1101: 1018: 888: 878: 231:Learn how and when to remove this message 948: 851: 1628: 1626: 1478: 1437: 1433: 1431: 1387: 1340: 1191: 636:Government-linked companies in Malaysia 471:was the norm. Typical sectors included 3624: 1514:National University of Singapore Press 57:may be able to help recruit an expert. 3397: 2989: 2569: 2184: 2035: 1753: 1582:Yan, Hairong; Sautman, Barry (2024). 344: 1623: 1428: 1041: 387: 373: 180: 18: 1632: 1456:10.13169/worlrevipoliecon.11.4.0428 1438:Li, Yan; Cheng, Enfu (2020-12-01). 1406:10.13169/worlrevipoliecon.11.4.0428 1388:Li, Yan; Cheng, Enfu (2020-12-01). 1359:10.13169/worlrevipoliecon.11.4.0428 1341:Li, Yan; Cheng, Enfu (2020-12-01). 620:Public sector undertakings in India 605: 431:For a more comprehensive list, see 426: 339: 86:entity which is established and/or 13: 1697: 1575: 1499: 1321: 1264:The Quarterly Journal of Economics 1260:"A survey of corporate governance" 1222:The Quarterly Journal of Economics 1090:The Quarterly Journal of Economics 1044:"Incomplete Contracts and Control" 719:List of government-owned companies 433:List of government-owned companies 405:Compared to government bureaucracy 309: 14: 3648: 1444:World Review of Political Economy 1394:World Review of Political Economy 1347:World Review of Political Economy 714:List of government-owned airlines 573:as well as many other companies. 438: 3377: 3368: 3367: 2897:Sahrawi Arab Democratic Republic 2667:Democratic Republic of the Congo 1896:Saint Vincent and the Grenadines 687: 613: 583:State-owned enterprises of China 576: 185: 23: 1610: 1549:. Mher Sahakyan. New York, NY: 1538: 1381: 1334: 1290: 1134: 1077: 659:Lembaga Tabung Angkatan Tentera 418:Compared to regular enterprises 353:, because they allow capturing 258:government-sponsored enterprise 3445:Federated States of Micronesia 3335:British Indian Ocean Territory 1035: 897: 799: 771: 176: 1: 1298:"All Men Are Created Unequal" 1155:10.1016/j.jpubeco.2009.11.009 1011:10.1080/09540962.2018.1527533 999:Public Money & Management 976:10.1080/09540962.2018.1486629 964:Public Money & Management 880:10.1080/03003930.2017.1319360 760: 2021:United States Virgin Islands 1723:Resources in other libraries 765: 272:", and in New Zealand as a " 114:for the government, control 7: 1143:Journal of Public Economics 680: 329:public-private partnerships 211:the claims made and adding 96:state/provincial government 36:. 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E. (1969). 1112:10.1162/003355300555448 669:SOEs in the Philippines 2262:Bosnia and Herzegovina 1946:British Virgin Islands 1709:State-owned enterprise 1063:10.1257/aer.107.7.1731 567:Saudi Arabian Airlines 451:, there was a massive 334: 76:state-owned enterprise 3539:and other territories 2812:SĂŁo TomĂ© and PrĂ­ncipe 2672:Republic of the Congo 1886:Saint Kitts and Nevis 1738:Third World Quarterly 1042:Hart, Oliver (2017). 349:SOEs are common with 47:WikiProject Economics 3259:United Arab Emirates 1493:World Economic Forum 754:Volkseigener Betrieb 642:Malaysian government 555:national oil company 320:incomplete contracts 51:WikiProject Business 3286:limited recognition 2887:States with limited 2478:States with limited 1901:Trinidad and Tobago 1796:Antigua and Barbuda 1677:Alternate location: 1589:The China Quarterly 364:alcoholic beverages 262:Commonwealth realms 160:government entities 124:means of production 110:, in order to earn 1836:Dominican Republic 1746:by Elmer G. Wiens. 1633:Han, Enze (2024). 569:, and owns 70% of 539:economy of Belarus 465:natural monopolies 355:economies of scale 351:natural monopolies 345:Natural monopolies 289:corporate entities 196:possibly contains 3619: 3618: 3611:Wallis and Futuna 3556:Clipperton Island 3514:Associated states 3391: 3390: 3328:other territories 2983: 2982: 2914:other territories 2687:Equatorial Guinea 2563: 2562: 2178: 2177: 2150:other territories 2029: 2028: 1918:other territories 1704:Library resources 1648:978-0-19-769659-0 1560:978-1-003-35258-7 1523:978-981-18-5206-0 521:Águas de Portugal 412:transaction costs 388:Political reasons 381:spillover effects 374:Infant industries 270:Crown corporation 241: 240: 233: 198:original research 72: 71: 16:Government entity 3644: 3601:Pitcairn Islands 3571:French Polynesia 3551:Christmas Island 3480:Papua New Guinea 3460:Marshall Islands 3433:Sovereign states 3418: 3411: 3404: 3395: 3394: 3381: 3371: 3370: 3340:Christmas Island 3026:Sovereign states 3010: 3003: 2996: 2987: 2986: 2975: 2974:(United Kingdom) 2970:Tristan da Cunha 2966:Ascension Island 2958: 2945: 2936: 2912:Dependencies and 2605:Sovereign states 2590: 2583: 2576: 2567: 2566: 2516:Dependencies and 2220:Sovereign states 2205: 2198: 2191: 2182: 2181: 2170: 2158:Falkland Islands 2072:Sovereign states 2065:of South America 2056: 2049: 2042: 2033: 2032: 1986:Saint BarthĂ©lemy 1916:Dependencies and 1789:Sovereign states 1783:of North America 1774: 1767: 1760: 1751: 1750: 1692: 1687:, archived from 1674: 1672: 1653: 1652: 1637:. New York, NY: 1630: 1621: 1614: 1608: 1607: 1605: 1596:(257): 222–247. 1579: 1573: 1572: 1542: 1536: 1535: 1503: 1497: 1496: 1485: 1476: 1475: 1435: 1426: 1425: 1385: 1379: 1378: 1338: 1332: 1325: 1319: 1318: 1313: 1311: 1306:. 4 January 2014 1294: 1288: 1287: 1255: 1246: 1245: 1213: 1207: 1206: 1204: 1195: 1189: 1188: 1182: 1173: 1167: 1166: 1149:(3–4): 258–268. 1138: 1132: 1131: 1105: 1096:(4): 1127–1161. 1081: 1075: 1074: 1057:(7): 1731–1752. 1048: 1039: 1033: 1032: 1022: 994: 988: 987: 961: 952: 946: 945: 917: 911: 901: 895: 894: 892: 882: 858: 849: 848: 812: 806: 803: 797: 796: 794: 792: 783: 775: 744:State capitalism 734:Public ownership 697: 695:Companies portal 692: 691: 690: 606:SOEs in Ethiopia 427:Around the world 340:Economic reasons 236: 229: 225: 222: 216: 213:inline citations 189: 188: 181: 171:state capitalist 67: 64: 58: 27: 26: 19: 3652: 3651: 3647: 3646: 3645: 3643: 3642: 3641: 3622: 3621: 3620: 3615: 3538: 3532: 3515: 3509: 3490:Solomon Islands 3428: 3422: 3392: 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3251: 3246: 3241: 3236: 3231: 3226: 3221: 3216: 3211: 3206: 3201: 3196: 3191: 3186: 3181: 3176: 3171: 3166: 3161: 3156: 3151: 3146: 3141: 3136: 3131: 3126: 3121: 3116: 3111: 3106: 3101: 3096: 3091: 3086: 3081: 3076: 3071: 3066: 3061: 3056: 3051: 3046: 3041: 3036: 3030: 3028: 3022: 3021: 3013: 3012: 3005: 2998: 2990: 2981: 2980: 2977: 2976: 2959: 2946: 2937: 2923:Canary Islands 2919: 2918: 2916: 2911: 2908: 2907: 2905: 2904: 2899: 2893: 2891: 2886: 2883: 2882: 2880: 2879: 2874: 2869: 2864: 2859: 2854: 2849: 2844: 2839: 2834: 2829: 2824: 2819: 2814: 2809: 2804: 2799: 2794: 2789: 2784: 2779: 2774: 2769: 2764: 2759: 2754: 2749: 2744: 2739: 2734: 2729: 2724: 2719: 2714: 2709: 2704: 2699: 2694: 2689: 2684: 2679: 2674: 2669: 2664: 2659: 2654: 2649: 2644: 2639: 2634: 2629: 2624: 2619: 2614: 2608: 2606: 2602: 2601: 2593: 2592: 2585: 2578: 2570: 2561: 2560: 2558: 2557: 2552: 2547: 2542: 2537: 2532: 2527: 2521: 2519: 2518:other entities 2513: 2512: 2510: 2509: 2504: 2499: 2494: 2489: 2483: 2481: 2475: 2474: 2472: 2471: 2469:United Kingdom 2466: 2461: 2456: 2451: 2446: 2441: 2436: 2431: 2426: 2421: 2416: 2411: 2406: 2401: 2396: 2391: 2386: 2381: 2376: 2371: 2366: 2361: 2356: 2351: 2346: 2341: 2336: 2334: 2329: 2324: 2319: 2314: 2309: 2304: 2299: 2294: 2289: 2284: 2282:Czech Republic 2279: 2274: 2269: 2264: 2259: 2254: 2249: 2244: 2239: 2234: 2229: 2223: 2221: 2217: 2216: 2208: 2207: 2200: 2193: 2185: 2176: 2175: 2173: 2172: 2165: 2160: 2154: 2152: 2144: 2141: 2140: 2138: 2137: 2132: 2127: 2122: 2117: 2112: 2107: 2102: 2097: 2092: 2087: 2082: 2076: 2074: 2068: 2067: 2059: 2058: 2051: 2044: 2036: 2027: 2026: 2024: 2023: 2018: 2013: 2008: 2006:Sint Eustatius 2003: 1998: 1993: 1988: 1983: 1978: 1973: 1968: 1963: 1958: 1953: 1951:Cayman Islands 1948: 1943: 1938: 1933: 1928: 1922: 1920: 1915: 1912: 1911: 1909: 1908: 1903: 1898: 1893: 1888: 1883: 1878: 1873: 1868: 1863: 1858: 1853: 1848: 1843: 1838: 1833: 1828: 1823: 1818: 1813: 1808: 1803: 1798: 1792: 1790: 1786: 1785: 1777: 1776: 1769: 1762: 1754: 1748: 1747: 1741: 1726: 1725: 1720: 1714: 1713: 1702: 1701: 1699: 1696: 1695: 1694: 1679: 1660: 1657: 1655: 1654: 1647: 1622: 1609: 1574: 1559: 1537: 1522: 1498: 1477: 1427: 1400:(4): 432–433. 1380: 1333: 1320: 1289: 1247: 1208: 1190: 1168: 1133: 1076: 1034: 1005:(7): 481–482. 989: 970:(6): 477–480. 947: 928:(5): 597–617. 912: 908:Know Your GLCs 896: 873:(5): 820–841. 850: 827:(4): 535–553. 807: 798: 769: 767: 764: 762: 759: 757: 756: 751: 749:Statutory body 746: 741: 736: 731: 726: 721: 716: 711: 706: 700: 699: 698: 682: 679: 670: 667: 651:Prime Minister 637: 634: 618:Main article: 615: 612: 607: 604: 581:Main article: 578: 575: 546: 543: 477:electric power 449:Western Europe 445:Eastern Europe 440: 439:SOEs in Europe 437: 428: 425: 419: 416: 406: 403: 401: 398: 389: 386: 375: 372: 370:(healthcare). 346: 343: 341: 338: 336: 333: 311: 308: 239: 238: 193: 191: 184: 178: 175: 120:private sector 70: 69: 31: 29: 22: 15: 9: 6: 4: 3: 2: 3649: 3638: 3635: 3633: 3630: 3629: 3627: 3612: 3609: 3607: 3604: 3602: 3599: 3597: 3594: 3592: 3589: 3587: 3586:New Caledonia 3584: 3582: 3579: 3577: 3574: 3572: 3569: 3567: 3566:Easter Island 3564: 3562: 3559: 3557: 3554: 3552: 3549: 3547: 3544: 3543: 3541: 3535: 3529: 3526: 3524: 3521: 3520: 3518: 3512: 3506: 3503: 3501: 3498: 3496: 3493: 3491: 3488: 3486: 3483: 3481: 3478: 3476: 3473: 3471: 3468: 3466: 3463: 3461: 3458: 3456: 3453: 3451: 3448: 3446: 3443: 3441: 3438: 3437: 3435: 3431: 3426: 3419: 3414: 3412: 3407: 3405: 3400: 3399: 3396: 3384: 3380: 3376: 3374: 3366: 3365: 3362: 3356: 3353: 3351: 3348: 3346: 3343: 3341: 3338: 3336: 3333: 3332: 3330: 3325: 3321: 3315: 3312: 3310: 3309:South Ossetia 3307: 3305: 3302: 3300: 3297: 3295: 3292: 3291: 3289: 3287: 3281: 3275: 3272: 3270: 3267: 3265: 3262: 3260: 3257: 3255: 3252: 3250: 3247: 3245: 3242: 3240: 3237: 3235: 3232: 3230: 3227: 3225: 3222: 3220: 3217: 3215: 3212: 3210: 3207: 3205: 3202: 3200: 3197: 3195: 3192: 3190: 3187: 3185: 3182: 3180: 3177: 3175: 3172: 3170: 3167: 3165: 3162: 3160: 3157: 3155: 3152: 3150: 3147: 3145: 3142: 3140: 3137: 3135: 3132: 3130: 3127: 3125: 3122: 3120: 3117: 3115: 3112: 3110: 3107: 3105: 3102: 3100: 3097: 3095: 3092: 3090: 3087: 3085: 3082: 3080: 3077: 3075: 3072: 3070: 3067: 3065: 3062: 3060: 3057: 3055: 3052: 3050: 3047: 3045: 3042: 3040: 3037: 3035: 3032: 3031: 3029: 3027: 3023: 3018: 3011: 3006: 3004: 2999: 2997: 2992: 2991: 2988: 2971: 2967: 2963: 2960: 2954: 2950: 2947: 2941: 2938: 2932: 2928: 2924: 2921: 2920: 2917: 2909: 2903: 2900: 2898: 2895: 2894: 2892: 2884: 2878: 2875: 2873: 2870: 2868: 2865: 2863: 2860: 2858: 2855: 2853: 2850: 2848: 2845: 2843: 2840: 2838: 2835: 2833: 2830: 2828: 2825: 2823: 2820: 2818: 2815: 2813: 2810: 2808: 2805: 2803: 2800: 2798: 2795: 2793: 2790: 2788: 2785: 2783: 2780: 2778: 2775: 2773: 2770: 2768: 2765: 2763: 2760: 2758: 2755: 2753: 2750: 2748: 2745: 2743: 2740: 2738: 2735: 2733: 2730: 2728: 2727:Guinea-Bissau 2725: 2723: 2720: 2718: 2715: 2713: 2710: 2708: 2705: 2703: 2700: 2698: 2695: 2693: 2690: 2688: 2685: 2683: 2680: 2678: 2675: 2673: 2670: 2668: 2665: 2663: 2660: 2658: 2655: 2653: 2650: 2648: 2645: 2643: 2640: 2638: 2635: 2633: 2630: 2628: 2625: 2623: 2620: 2618: 2615: 2613: 2610: 2609: 2607: 2603: 2598: 2591: 2586: 2584: 2579: 2577: 2572: 2571: 2568: 2556: 2553: 2551: 2548: 2546: 2543: 2541: 2538: 2536: 2533: 2531: 2530:Faroe Islands 2528: 2526: 2523: 2522: 2520: 2514: 2508: 2505: 2503: 2502:South Ossetia 2500: 2498: 2495: 2493: 2490: 2488: 2485: 2484: 2482: 2476: 2470: 2467: 2465: 2462: 2460: 2457: 2455: 2452: 2450: 2447: 2445: 2442: 2440: 2437: 2435: 2432: 2430: 2427: 2425: 2422: 2420: 2417: 2415: 2412: 2410: 2407: 2405: 2402: 2400: 2397: 2395: 2392: 2390: 2387: 2385: 2382: 2380: 2377: 2375: 2372: 2370: 2367: 2365: 2362: 2360: 2357: 2355: 2354:Liechtenstein 2352: 2350: 2347: 2345: 2342: 2340: 2337: 2335: 2333: 2330: 2328: 2325: 2323: 2320: 2318: 2315: 2313: 2310: 2308: 2305: 2303: 2300: 2298: 2295: 2293: 2290: 2288: 2285: 2283: 2280: 2278: 2275: 2273: 2270: 2268: 2265: 2263: 2260: 2258: 2255: 2253: 2250: 2248: 2245: 2243: 2240: 2238: 2235: 2233: 2230: 2228: 2225: 2224: 2222: 2218: 2213: 2206: 2201: 2199: 2194: 2192: 2187: 2186: 2183: 2171: 2166: 2164: 2163:French Guiana 2161: 2159: 2156: 2155: 2153: 2147: 2142: 2136: 2133: 2131: 2128: 2126: 2123: 2121: 2118: 2116: 2113: 2111: 2108: 2106: 2103: 2101: 2098: 2096: 2093: 2091: 2088: 2086: 2083: 2081: 2078: 2077: 2075: 2073: 2069: 2064: 2057: 2052: 2050: 2045: 2043: 2038: 2037: 2034: 2022: 2019: 2017: 2014: 2012: 2009: 2007: 2004: 2002: 1999: 1997: 1994: 1992: 1989: 1987: 1984: 1982: 1979: 1977: 1974: 1972: 1969: 1967: 1964: 1962: 1959: 1957: 1954: 1952: 1949: 1947: 1944: 1942: 1939: 1937: 1934: 1932: 1929: 1927: 1924: 1923: 1921: 1913: 1907: 1906:United States 1904: 1902: 1899: 1897: 1894: 1892: 1889: 1887: 1884: 1882: 1879: 1877: 1874: 1872: 1869: 1867: 1864: 1862: 1859: 1857: 1854: 1852: 1849: 1847: 1844: 1842: 1839: 1837: 1834: 1832: 1829: 1827: 1824: 1822: 1819: 1817: 1814: 1812: 1809: 1807: 1804: 1802: 1799: 1797: 1794: 1793: 1791: 1787: 1782: 1775: 1770: 1768: 1763: 1761: 1756: 1755: 1752: 1745: 1742: 1739: 1735: 1731: 1730: 1724: 1721: 1719: 1716: 1715: 1710: 1705: 1691:on 2015-10-25 1690: 1686: 1685: 1680: 1678: 1669: 1668: 1663: 1662: 1650: 1644: 1640: 1636: 1629: 1627: 1619: 1613: 1604: 1599: 1595: 1591: 1590: 1585: 1578: 1570: 1566: 1562: 1556: 1552: 1548: 1541: 1533: 1529: 1525: 1519: 1515: 1512:. Singapore: 1511: 1510: 1502: 1495:. 7 May 2019. 1494: 1490: 1484: 1482: 1473: 1469: 1465: 1461: 1457: 1453: 1449: 1445: 1441: 1434: 1432: 1423: 1419: 1415: 1411: 1407: 1403: 1399: 1395: 1391: 1384: 1376: 1372: 1368: 1364: 1360: 1356: 1352: 1348: 1344: 1337: 1330: 1324: 1317: 1305: 1304: 1303:The Economist 1299: 1293: 1285: 1281: 1277: 1273: 1269: 1265: 1261: 1254: 1252: 1243: 1239: 1235: 1231: 1227: 1223: 1219: 1212: 1201: 1194: 1186: 1179: 1172: 1164: 1160: 1156: 1152: 1148: 1144: 1137: 1129: 1125: 1121: 1117: 1113: 1109: 1104: 1099: 1095: 1091: 1087: 1080: 1072: 1068: 1064: 1060: 1056: 1052: 1045: 1038: 1030: 1026: 1021: 1016: 1012: 1008: 1004: 1000: 993: 985: 981: 977: 973: 969: 965: 958: 951: 943: 939: 935: 931: 927: 923: 916: 909: 905: 900: 891: 886: 881: 876: 872: 868: 864: 857: 855: 846: 842: 838: 834: 830: 826: 822: 818: 811: 802: 787: 780: 774: 770: 755: 752: 750: 747: 745: 742: 740: 737: 735: 732: 730: 729:Public bodies 727: 725: 722: 720: 717: 715: 712: 710: 707: 705: 702: 701: 696: 685: 678: 676: 666: 664: 660: 656: 652: 648: 643: 633: 631: 627: 621: 614:SOEs in India 611: 603: 601: 596: 592: 590: 584: 577:SOEs in China 574: 572: 568: 564: 560: 556: 552: 542: 540: 535: 533: 529: 524: 522: 518: 514: 510: 506: 502: 498: 494: 490: 486: 482: 478: 474: 470: 466: 462: 458: 454: 450: 446: 434: 424: 415: 413: 397: 395: 385: 382: 371: 369: 365: 361: 360:demerit goods 356: 352: 332: 330: 325: 322:developed by 321: 317: 307: 305: 300: 298: 294: 291:in which the 290: 286: 282: 277: 275: 271: 267: 263: 259: 253: 251: 247: 235: 232: 224: 214: 210: 206: 200: 199: 194:This section 192: 183: 182: 174: 172: 168: 165: 161: 157: 153: 149: 145: 141: 137: 133: 129: 125: 121: 117: 113: 109: 105: 101: 97: 93: 89: 85: 81: 77: 66: 56: 52: 48: 43: 39: 35: 32:This article 30: 21: 20: 3537:Dependencies 3523:Cook Islands 3424: 3324:Dependencies 3254:Turkmenistan 3219:Saudi Arabia 3016: 2962:Saint Helena 2933:   2837:South Africa 2827:Sierra Leone 2632:Burkina Faso 2596: 2507:Transnistria 2211: 2146:Dependencies 2062: 2011:Sint Maarten 1991:Saint Martin 1780: 1737: 1708: 1689:the original 1683: 1666: 1634: 1612: 1593: 1587: 1577: 1546: 1540: 1508: 1501: 1492: 1447: 1443: 1397: 1393: 1383: 1350: 1346: 1336: 1323: 1315: 1310:27 September 1308:. 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Retrieved 785: 773: 673:As of 2024, 672: 639: 623: 609: 597: 593: 586: 561:, which the 559:Saudi Aramco 548: 536: 527: 525: 481:fossil fuels 461:Eastern Bloc 457:World War II 442: 421: 408: 391: 377: 348: 313: 301: 280: 278: 274:Crown entity 254: 242: 227: 218: 195: 169:and achieve 148:jurisdiction 79: 75: 73: 60: 44:for details. 37: 33: 3470:New Zealand 3383:Asia portal 3284:States with 3204:Philippines 3144:South Korea 3139:North Korea 3034:Afghanistan 2889:recognition 2842:South Sudan 2732:Ivory Coast 2545:Isle of Man 2480:recognition 2454:Switzerland 2389:Netherlands 1981:Puerto Rico 1891:Saint Lucia 1841:El Salvador 1020:2066/197924 890:2066/176125 704:Corporatism 528:liikelaitos 368:merit goods 324:Oliver Hart 177:Terminology 128:commodities 108:legislation 3626:Categories 3427:of Oceania 3264:Uzbekistan 3239:Tajikistan 3154:Kyrgyzstan 3134:Kazakhstan 3054:Bangladesh 3044:Azerbaijan 2944:(Portugal) 2902:Somaliland 2822:Seychelles 2787:Mozambique 2772:Mauritania 2757:Madagascar 2712:The Gambia 2647:Cape Verde 2424:San Marino 2384:Montenegro 2364:Luxembourg 2344:Kazakhstan 2247:Azerbaijan 1976:Montserrat 1971:Martinique 1966:Guadeloupe 1821:Costa Rica 1569:1353290533 1532:1354535847 1450:(4): 433. 1353:(4): 432. 1329:privatized 791:16 January 761:References 473:telephones 293:government 279:The term " 205:improve it 164:commercial 126:, provide 3440:Australia 3350:Hong Kong 3304:Palestine 3229:Sri Lanka 3224:Singapore 3104:Indonesia 2777:Mauritius 2599:of Africa 2535:Gibraltar 2359:Lithuania 2214:of Europe 2135:Venezuela 2080:Argentina 1961:Greenland 1876:Nicaragua 1851:Guatemala 1551:Routledge 1472:236786906 1464:2042-8928 1422:236786906 1414:2042-8928 1375:236786906 1367:2042-891X 1163:0047-2727 1120:0033-5533 1098:CiteSeerX 1071:0002-8282 1029:158097385 984:158266874 942:153354582 841:154709321 766:Citations 709:Dirigisme 647:Putrajaya 459:. 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