Does state ownership limit the liberalizing effects of the WTO? We examine the case of China, which is not only the largest exporting state but also lends active support to state-owned enterprises (SOEs) that could distort global trade. Using data on import purchases disaggregated by ownership from 1993 to 2012, we analyze how WTO entry affects the commercial orientation of state-owned and private imports. We demonstrate that after WTO entry, tariff cuts have a larger effect on private compared to SOE trade. We then show that state ownership alone does not block the WTO’s liberalizing effects. For most industries, SOEs and private firms are alike in their commercial orientation. However, where strategic goods targeted by industrial policy hold a large share of bilateral trade, lowering tariffs has no impact on SOE trade. These findings highlight the tensions between state-led economic models and global trade law premised upon market principles.
{"title":"The Limits of Liberalization: WTO Entry and Chinese State-Owned Firms","authors":"Yeling Tan, Christina L. Davis","doi":"10.2139/ssrn.3671279","DOIUrl":"https://doi.org/10.2139/ssrn.3671279","url":null,"abstract":"\u0000 Does state ownership limit the liberalizing effects of the WTO? We examine the case of China, which is not only the largest exporting state but also lends active support to state-owned enterprises (SOEs) that could distort global trade. Using data on import purchases disaggregated by ownership from 1993 to 2012, we analyze how WTO entry affects the commercial orientation of state-owned and private imports. We demonstrate that after WTO entry, tariff cuts have a larger effect on private compared to SOE trade. We then show that state ownership alone does not block the WTO’s liberalizing effects. For most industries, SOEs and private firms are alike in their commercial orientation. However, where strategic goods targeted by industrial policy hold a large share of bilateral trade, lowering tariffs has no impact on SOE trade. These findings highlight the tensions between state-led economic models and global trade law premised upon market principles.","PeriodicalId":343804,"journal":{"name":"ERN: Government Owned Firms (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125465971","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Badan Usaha Milik Negara (BUMN) is a State-Owned Enterprises (SOEs) in Indonesia, were created to carry out commercial activities acting on behalf of the government. It means that BUMN management is quite specific because of dualism, firstly BUMNs are in the field of public governance with intervention from the government, and secondly BUMNs are autonomous business entities that have dual objectives are social and economic. This is claimed as a source of inefficiency of BUMN, opposite to Badan Usaha Milik Swasta (BUMS) which purely commercial business entity. This research aims to analyze the differences of BUMN and BUMS efficiency in banking industry. Research population is taken from public listed companies in Indonesia since 2013 to 2017 with purposive sampling way. Data analyzing technique is uses a comparison of two samples with t-test. The result shows that the two variables: Leverage multiplier and loan to deposit ratio different between BUMN banks and BUMS banks and the rest three variables: Interest expense ratio, cost of efficiency ratio and cost of fund are indifferent between BUMN banks and BUMS banks. This research found that BUMN banks more efficient and more aggressive than BUMS banks in their banking operations.
Badan Usaha Milik Negara (BUMN)是印度尼西亚的一家国有企业(SOEs)，是为代表政府开展商业活动而创建的。这意味着由于二元论的原因，城市城市的管理是非常具体的，首先，城市城市是公共治理领域，有政府的干预，其次，城市城市城市是具有社会和经济双重目标的自主经营实体。这被认为是BUMN效率低下的原因，而Badan Usaha Milik Swasta (BUMS)是纯粹的商业实体。本研究的目的是分析银行系统中城市人力资源管理效率和城市人力资源管理效率的差异。研究人群选取自2013年至2017年印尼上市公司，采用有目的抽样方法。数据分析技术是使用两个样本的比较与t检验。结果表明，村镇银行与村镇银行的杠杆乘数和存贷比两个变量存在差异，其余三个变量利息费用率、效率成本率和资金成本在村镇银行与村镇银行之间无显著差异。本研究发现，BUMN银行在银行业务上比BUMS银行更有效率、更积极。
{"title":"Monitoring the Efficiency of BUMN Banks in Indonesia: Comparison with BUMS Banks","authors":"Indahwati Indahwati, Ruswiati Suryasaputra","doi":"10.2139/ssrn.3487128","DOIUrl":"https://doi.org/10.2139/ssrn.3487128","url":null,"abstract":"Badan Usaha Milik Negara (BUMN) is a State-Owned Enterprises (SOEs) in Indonesia, were created to carry out commercial activities acting on behalf of the government. It means that BUMN management is quite specific because of dualism, firstly BUMNs are in the field of public governance with intervention from the government, and secondly BUMNs are autonomous business entities that have dual objectives are social and economic. This is claimed as a source of inefficiency of BUMN, opposite to Badan Usaha Milik Swasta (BUMS) which purely commercial business entity. This research aims to analyze the differences of BUMN and BUMS efficiency in banking industry. Research population is taken from public listed companies in Indonesia since 2013 to 2017 with purposive sampling way. Data analyzing technique is uses a comparison of two samples with t-test. The result shows that the two variables: Leverage multiplier and loan to deposit ratio different between BUMN banks and BUMS banks and the rest three variables: Interest expense ratio, cost of efficiency ratio and cost of fund are indifferent between BUMN banks and BUMS banks. This research found that BUMN banks more efficient and more aggressive than BUMS banks in their banking operations.<br><br>","PeriodicalId":343804,"journal":{"name":"ERN: Government Owned Firms (Topic)","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-08-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125846115","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper aims to evaluate how informal institutions affect the formal ones and how legal proposals may improve both corporate governance and public administration. Through a set of corporate governance cases, especially the recent cases on Petrobras, the state-owned company involved in accusations of illegal bribery and corruption schemes, we examine how minority shareholders’ protection rules are affected by informal institutions, such as political and social norms. After that, this paper points out the institutional proposals that policymakers, academics, and organizations are recommending to improve corporate governance in Brazil and how such institutional mechanisms may also be useful in public governance. It concludes that the state, reinforced by informal institutions and acting as the controlling shareholder of companies such as Petrobras, has been a leading player in the expropriation of minority shareholders’ rights in Brazil. Moreover, its actions have also caused economic and social problems for the stakeholders of the state-owned companies, mainly suppliers and workers. Finally, the author further believes that the outcome of the interaction between formal and informal institutions in corporate and public governance is under-researched in Brazil. Hence, to promote its social and economic development, this interaction between institutions must be studied in greater depth, and, consequently, its negative effects can be minimized through better institutional design.
{"title":"The Role of Informal Institutions in the Enforcement of Rules and How to Improve Corporate and Public Governance in Brazil: Studies Based on a Set of Corporate Governance Cases Involving State-Owned Companies","authors":"Alexandre Coelho","doi":"10.2139/ssrn.3434037","DOIUrl":"https://doi.org/10.2139/ssrn.3434037","url":null,"abstract":"This paper aims to evaluate how informal institutions affect the formal ones and how legal proposals may improve both corporate governance and public administration. Through a set of corporate governance cases, especially the recent cases on Petrobras, the state-owned company involved in accusations of illegal bribery and corruption schemes, we examine how minority shareholders’ protection rules are affected by informal institutions, such as political and social norms. After that, this paper points out the institutional proposals that policymakers, academics, and organizations are recommending to improve corporate governance in Brazil and how such institutional mechanisms may also be useful in public governance. It concludes that the state, reinforced by informal institutions and acting as the controlling shareholder of companies such as Petrobras, has been a leading player in the expropriation of minority shareholders’ rights in Brazil. Moreover, its actions have also caused economic and social problems for the stakeholders of the state-owned companies, mainly suppliers and workers. Finally, the author further believes that the outcome of the interaction between formal and informal institutions in corporate and public governance is under-researched in Brazil. Hence, to promote its social and economic development, this interaction between institutions must be studied in greater depth, and, consequently, its negative effects can be minimized through better institutional design.","PeriodicalId":343804,"journal":{"name":"ERN: Government Owned Firms (Topic)","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121960691","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In Russian law, the State enterprise is probably one of the most noteworthy examples of the continuity of legal development, showing just how much Soviet concepts still influence modern Russian law.
It is well known that the means of production could not belong to private persons under Soviet law (apart from some minor exceptions). Consequently, State enterprises built the foundation of the Soviet economy. However, the enterprises needed a legal foundation for their entrepreneurial activity. Not being the owners of the assets, they had an operative management over them. This legal construction, surprisingly, survived the collapse of the Soviet Union and the liberalization of the property regime. In the course of perestroika reform, the right of operative management was redesigned; additionally, a further right, one establishing a full economic jurisdiction, was created. These relicts of Soviet legal thinking later kept their position as a part of the modern Russian law of property. In the Civil Code of the Russian Federation, the right of operative management and the right of economic jurisdiction are explicitly stated as rights in rem (Art. 216 CC). Mostly importantly, they allow the State to create the so-called unitary enterprises and institutions which conduct economic activity but do not own their assets. These assets remain State property; however, the unitary enterprises can possess and use the assets on the grounds of the right of operative management or the right of economic jurisdiction.
The paper addresses the continuity in legal developments in regard of the mentioned rights and their impact on the notion of property in modern Russia.
{"title":"From Soviet State Enterprises to Russian Unitary Enterprises","authors":"Eugenia Kurzynsky-Singer","doi":"10.2139/ssrn.3394491","DOIUrl":"https://doi.org/10.2139/ssrn.3394491","url":null,"abstract":"In Russian law, the State enterprise is probably one of the most noteworthy examples of the continuity of legal development, showing just how much Soviet concepts still influence modern Russian law. <br><br>It is well known that the means of production could not belong to private persons under Soviet law (apart from some minor exceptions). Consequently, State enterprises built the foundation of the Soviet economy. However, the enterprises needed a legal foundation for their entrepreneurial activity. Not being the owners of the assets, they had an operative management over them. This legal construction, surprisingly, survived the collapse of the Soviet Union and the liberalization of the property regime. In the course of perestroika reform, the right of operative management was redesigned; additionally, a further right, one establishing a full economic jurisdiction, was created. These relicts of Soviet legal thinking later kept their position as a part of the modern Russian law of property. In the Civil Code of the Russian Federation, the right of operative management and the right of economic jurisdiction are explicitly stated as rights in rem (Art. 216 CC). Mostly importantly, they allow the State to create the so-called unitary enterprises and institutions which conduct economic activity but do not own their assets. These assets remain State property; however, the unitary enterprises can possess and use the assets on the grounds of the right of operative management or the right of economic jurisdiction.<br><br>The paper addresses the continuity in legal developments in regard of the mentioned rights and their impact on the notion of property in modern Russia.<br>","PeriodicalId":343804,"journal":{"name":"ERN: Government Owned Firms (Topic)","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124512282","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The rebalancing of the Chinese economy is analyzed through a heterogeneous taxation of various types of firms. Based on a two-country dynamic general equilibrium model, the paper applies tax reforms to raise consumption, reduce some firms' overinvestment and maintain a high level of welfare. To rebalance consumption and investment, taxation may allow reallocating a part of the labor force to firms that are not overinvesting. Moreover, the correction of distortions in production factor costs (capital and labor) is necessary during certain reforms applied in the model; that is, on the one hand, higher credit costs for State-Owned Enterprises (SOEs) and, on the other hand, a catch-up of foreign firms' wages by domestic firms (public and private). In this model, firms' credit cost is a key channel because it impacts both firms' investment and household consumption (through returns on savings). These consumption and investment reforms bring welfare benefits to households, and the results are close to direct welfare maximization. In this framework, the rebalancing of the domestic demand does not require the readjustment of the external financial position because the aggregate savings rate remains high and the supply of domestic assets is reduced. Finally, another theoretical framework proposes a heterogeneous taxation of consumption across home and foreign goods to enhance consumption. Abstract The rebalancing of the Chinese economy is analyzed through a heterogeneous taxation of various
{"title":"Rebalancing in China: A Taxation Approach","authors":"Damien Cubizol","doi":"10.2139/ssrn.3068629","DOIUrl":"https://doi.org/10.2139/ssrn.3068629","url":null,"abstract":"The rebalancing of the Chinese economy is analyzed through a heterogeneous taxation of various types of firms. Based on a two-country dynamic general equilibrium model, the paper applies tax reforms to raise consumption, reduce some firms' overinvestment and maintain a high level of welfare. To rebalance consumption and investment, taxation may allow reallocating a part of the labor force to firms that are not overinvesting. Moreover, the correction of distortions in production factor costs (capital and labor) is necessary during certain reforms applied in the model; that is, on the one hand, higher credit costs for State-Owned Enterprises (SOEs) and, on the other hand, a catch-up of foreign firms' wages by domestic firms (public and private). In this model, firms' credit cost is a key channel because it impacts both firms' investment and household consumption (through returns on savings). These consumption and investment reforms bring welfare benefits to households, and the results are close to direct welfare maximization. In this framework, the rebalancing of the domestic demand does not require the readjustment of the external financial position because the aggregate savings rate remains high and the supply of domestic assets is reduced. Finally, another theoretical framework proposes a heterogeneous taxation of consumption across home and foreign goods to enhance consumption. Abstract The rebalancing of the Chinese economy is analyzed through a heterogeneous taxation of various","PeriodicalId":343804,"journal":{"name":"ERN: Government Owned Firms (Topic)","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125666050","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Studies on state ownership often involve endogeneity issues, such as a lack of variation in state ownership status and vastly different firm characteristics between state-owned enterprises and private firms. By using an exogenous regulatory reform, the split share structure reform in China, this paper examines the effect of state ownership through privatization, which mitigates the impact of endogeneity issues. The paper finds that privatized firms engaged more in earnings management, both accruals and real earnings management, after privatization. The results of the robustness test explain that this is partially due to external financing needs, after the loss of the benefits provided to state-owned enterprises. The result is consistent when a matched sample based on the propensity score matching is used. The paper contributes to the literature by reducing the endogeneity issues commonly present in state ownership studies and provides evidence on the impact of the loss of state ownership in China, where the capital market is considered less developed.
{"title":"State Ownership and Earnings Management: Evidence from the Split Share Structure Reform in China","authors":"Ja Ryong Kim","doi":"10.2139/ssrn.3298807","DOIUrl":"https://doi.org/10.2139/ssrn.3298807","url":null,"abstract":"Studies on state ownership often involve endogeneity issues, such as a lack of variation in state ownership status and vastly different firm characteristics between state-owned enterprises and private firms. By using an exogenous regulatory reform, the split share structure reform in China, this paper examines the effect of state ownership through privatization, which mitigates the impact of endogeneity issues. The paper finds that privatized firms engaged more in earnings management, both accruals and real earnings management, after privatization. The results of the robustness test explain that this is partially due to external financing needs, after the loss of the benefits provided to state-owned enterprises. The result is consistent when a matched sample based on the propensity score matching is used. The paper contributes to the literature by reducing the endogeneity issues commonly present in state ownership studies and provides evidence on the impact of the loss of state ownership in China, where the capital market is considered less developed.","PeriodicalId":343804,"journal":{"name":"ERN: Government Owned Firms (Topic)","volume":"91 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124692084","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper aims to access the position of BHEL from the year 2004 to 2014. To evaluate the profitability of the company, relevant rations were used and statistical tools like mean, standard deviation, coefficient of variation, minimum, and maximum were applied, and to test the significant relationship between the relevant variable, the variables were tested with the help of correlation and regression analysis (t-test). In hypotheses testing, most of the hypothesis showed a statistically significant relationship between two variables. Hence it was concluded that the overall performance of Bharat Heavy Electricals Limited regarding profitability was sound during the study period, the company’s market is growing, and it was earning an acceptable return on invested capital, and it has good future opportunities for growth.
{"title":"Mapping Profitability of Public Sector Enterprises with Special Reference to Bhel","authors":"Satish Kumar, Megha Gupta","doi":"10.2139/ssrn.3095113","DOIUrl":"https://doi.org/10.2139/ssrn.3095113","url":null,"abstract":"This paper aims to access the position of BHEL from the year 2004 to 2014. To evaluate the profitability of the company, relevant rations were used and statistical tools like mean, standard deviation, coefficient of variation, minimum, and maximum were applied, and to test the significant relationship between the relevant variable, the variables were tested with the help of correlation and regression analysis (t-test). In hypotheses testing, most of the hypothesis showed a statistically significant relationship between two variables. Hence it was concluded that the overall performance of Bharat Heavy Electricals Limited regarding profitability was sound during the study period, the company’s market is growing, and it was earning an acceptable return on invested capital, and it has good future opportunities for growth.","PeriodicalId":343804,"journal":{"name":"ERN: Government Owned Firms (Topic)","volume":"76 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128865987","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In advanced economies, state-owned enterprises play an important role in sectors of general interest such as energy and water supply. The conditions under which they operate have changed fundamentally since 1998, with new strategies required for firms to preserve market shares in the face of liberalisation and technological innovation. This paper investigates the productivity effect of three strategies in new public management: corporatisation, outsourcing, and partial privatisation. Firm-level productivity is estimated from production data using a control function approach. As most of the firms are typically multiproduct firms, we suggest a method for modelling differences in the product mix and to account for heterogeneous production environments. Using a newly constructed and unique dataset from the German Federal Statistical Office, we find that outsourcing and corporatisation positively impact productivity, while partial privatisation does not increase productivity.
{"title":"Modern Public Enterprises: Organisational Innovation and Productivity","authors":"Caroline Stiel","doi":"10.2139/ssrn.3100122","DOIUrl":"https://doi.org/10.2139/ssrn.3100122","url":null,"abstract":"In advanced economies, state-owned enterprises play an important role in sectors of general interest such as energy and water supply. The conditions under which they operate have changed fundamentally since 1998, with new strategies required for firms to preserve market shares in the face of liberalisation and technological innovation. This paper investigates the productivity effect of three strategies in new public management: corporatisation, outsourcing, and partial privatisation. Firm-level productivity is estimated from production data using a control function approach. As most of the firms are typically multiproduct firms, we suggest a method for modelling differences in the product mix and to account for heterogeneous production environments. Using a newly constructed and unique dataset from the German Federal Statistical Office, we find that outsourcing and corporatisation positively impact productivity, while partial privatisation does not increase productivity.","PeriodicalId":343804,"journal":{"name":"ERN: Government Owned Firms (Topic)","volume":"113 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120818905","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Russian Abstract: Предметной областью исследования являются вопросы методологии гармонизации системы макроэкономических показателей и показателей финансовой отчетности организаций государственного сектора экономики. В исследовании систематизируются рекомендации международных организаций и анализируется перспективный зарубежный опыт в области методологии построения макроэкономических показателей на основе данных финансовой отчетности организаций государственного сектора экономики, формируемой в соответствии с международными стандартами. Практическим результатом исследования являются предложенные схемы построения стоимостных показателей счета производства СНС для единиц государственного сектора экономики, занятых в сфере производства товаров и услуг. Ключевые слова: валовой выпуск, государственный сектор, добавленная стоимость, Международные стандарты финансовой отчетности, сектор государственного управления, Система национальных счетов, счет производства. English Abstract: Subject area of the research are problems of macroeconomic indicators system harmonization methodology and indicators of financial statements of public sector of the economy organizations. In the research the recommendations of international organizations are systematized and perspective foreign experience in the field of methodology of macroeconomic indicators development on the basis of the financial statements data of public sector organizations, formed in accordance with international standards, is analyzed. The practical result of the research is proposed schemes of cost indices of SNA production account construction for the public sector of the economy units engaged in the production of goods and services.
{"title":"Макроэкономические Аспекты Оценки Результатов Деятельности Организаций Государственного Сектора Экономики (Macroeconomic Aspects of the Assessment of Performance of Public Sector Organizations)","authors":"A. Abroskin, Natalyа Abrоskina","doi":"10.2139/SSRN.2938365","DOIUrl":"https://doi.org/10.2139/SSRN.2938365","url":null,"abstract":"Russian Abstract: Предметной областью исследования являются вопросы методологии гармонизации системы макроэкономических показателей и показателей финансовой отчетности организаций государственного сектора экономики. В исследовании систематизируются рекомендации международных организаций и анализируется перспективный зарубежный опыт в области методологии построения макроэкономических показателей на основе данных финансовой отчетности организаций государственного сектора экономики, формируемой в соответствии с международными стандартами. Практическим результатом исследования являются предложенные схемы построения стоимостных показателей счета производства СНС для единиц государственного сектора экономики, занятых в сфере производства товаров и услуг. Ключевые слова: валовой выпуск, государственный сектор, добавленная стоимость, Международные стандарты финансовой отчетности, сектор государственного управления, Система национальных счетов, счет производства. \u0000 \u0000English Abstract: Subject area of the research are problems of macroeconomic indicators system harmonization methodology and indicators of financial statements of public sector of the economy organizations. In the research the recommendations of international organizations are systematized and perspective foreign experience in the field of methodology of macroeconomic indicators development on the basis of the financial statements data of public sector organizations, formed in accordance with international standards, is analyzed. The practical result of the research is proposed schemes of cost indices of SNA production account construction for the public sector of the economy units engaged in the production of goods and services.","PeriodicalId":343804,"journal":{"name":"ERN: Government Owned Firms (Topic)","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125741614","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-02-13DOI: 10.1504/IJCA.2016.10002491
Eduardo Rivera Vicencio, O. García, Jose Romero Bravo
This paper describes the formation of international treaties as an integral part of the relationships that develop in the monetary system. In these relationships of the monetary system there are relationships between States, which are relationships between big companies operating from certain States with key global currencies and with others normally economically weaker States and/or dependent on the strongest currencies in the monetary system. This conformation of the relationships of the monetary system is framed within the Theory of Corporate Governmentality or the theory of government of large corporations, characterised by the concentration of wealth and ownership of income present and future, with backed debt-money generated by the financial system, which has supported this concentration of wealth. This is how international treaties are part of the elements of submission and domination by big companies to certain States or groups of States that end up imposing certain internal changes, with significant loss of sovereignty and with the complicity of economic powers and local politicians in these States, plus the complicity of international organisations, also subject to this corporate governmentality.
{"title":"Monetary Conformation of Corporate Governmentality IV: International Treaties (Conclusion)","authors":"Eduardo Rivera Vicencio, O. García, Jose Romero Bravo","doi":"10.1504/IJCA.2016.10002491","DOIUrl":"https://doi.org/10.1504/IJCA.2016.10002491","url":null,"abstract":"This paper describes the formation of international treaties as an integral part of the relationships that develop in the monetary system. In these relationships of the monetary system there are relationships between States, which are relationships between big companies operating from certain States with key global currencies and with others normally economically weaker States and/or dependent on the strongest currencies in the monetary system. This conformation of the relationships of the monetary system is framed within the Theory of Corporate Governmentality or the theory of government of large corporations, characterised by the concentration of wealth and ownership of income present and future, with backed debt-money generated by the financial system, which has supported this concentration of wealth. This is how international treaties are part of the elements of submission and domination by big companies to certain States or groups of States that end up imposing certain internal changes, with significant loss of sovereignty and with the complicity of economic powers and local politicians in these States, plus the complicity of international organisations, also subject to this corporate governmentality.","PeriodicalId":343804,"journal":{"name":"ERN: Government Owned Firms (Topic)","volume":"41 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114295861","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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