A government-owned corporation, state-owned enterprise, state enterpise, or government business enterprise is a legal entity created by a government A government is the organization, or agency through which a political unit exercises its authority, controls and administers public policy, and directs and controls the actions of its members or subjects to undertake commercial Commerce is a division of trade or production which deals with the exchange of goods and services from producer to final consumer OR commerce is the exchange of goods and services from the point of production to the point of consumption to satisfy human wants. It comprises the trading of something of economic value such as goods, services, activities on behalf of an owner government, and are usually considered to be an element or part of the state^{[citation needed]}. There is no standard definition of a government-owned corporation (GOC) or state-owned enterprise (SOE), although the two terms can be used interchangeably. The defining characteristics are that they have a distinct legal form and they are established to operate in commercial affairs. While they may also have public policy objectives, GOCs should be differentiated from other forms of government agencies or state entities established to pursue purely non-financial objectives that have no need or goal of satisfying the shareholders with return on their investment through price increase or dividends Dividends are payments made by a corporation to its shareholder members. It is the portion of corporate profits paid out to stockholders. When a corporation earns a profit or surplus, that money can be put to two uses: it can either be re-invested in the business , or it can be paid to the shareholders as a dividend. Many corporations retain a.

Definitions

GOCs can be fully owned or partially owned by Government. As a definitional issue, it is difficult to determine categorically what level of state ownership would qualify an entity to be considered as "state-owned", since governments can also own regular stock The stock or capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors. Stock is distinct from the property and the assets of a business which may fluctuate in, without implying any special interference. As an example, the Chinese Investment Corporation agreed in 2007 to acquire a 9.9% interest in the global investment bank Morgan Stanley Morgan Stanley is a global financial services firm headquartered in New York City, New York, United States serves a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000. The company reports US$779, but it is unlikely that this would qualify the latter as a government-owned corporation. Government-owned or state-run enterprises are often the result of corporatization In contrast the term may also refer to the construction of state corporatism, where state-owned corporations are created and delegated public social tasks resembling Corporate nationalism, away from autonomous privatization, a process in which government agencies and departments are re-organized as semi-autonomous corporate entities, sometimes with partial shares listed on stock exchanges.

The term government-linked company (GLC) is sometimes used to refer to corporate entities A corporation is an institution that is granted a charter recognizing it as a separate legal entity having its own privileges, and liabilities distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business that may be private or public (listed on a stock exchange) where an existing government A government is the organization, or agency through which a political unit exercises its authority, controls and administers public policy, and directs and controls the actions of its members or subjects owns a stake using a holding company A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself, rather its only purpose is owning shares of other companies. Holding companies allow the reduction of risk for the owners and can allow the ownership and control of a number of. There are 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 (>50%), while the second definition suggests that any corporate entity that has a government as a shareholder is a GLC.

A quasi-governmental organization, corporation, business, or agency (parastatal) is an entity that is treated by national laws and regulations to be under the guidance of the government, but also separate and autonomous from the government. While the entity may receive some revenue from charging customers for its services, these organizations are often partially or majorly funded by the government. They are usually considered highly important to smooth running of society, and are sometimes propped up with cash infusions in times of crisis to help surmount situations that would bankrupt a normal privately-owned business. They may also possess law-enforcement authority, usually related to their functions.

In most OPEC The Organization of the Petroleum Exporting Countries is a cartel of twelve countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. OPEC has maintained its headquarters in Vienna since 1965, and hosts regular meetings among the oil ministers of its Member countries, the governments own the oil companies operating on their soil. A notable example is the Saudi Saudi Arabia (Arabic: المملكه العربيه السعوديه‎) is the largest Arab country of the Middle East. It is bordered by Jordan and Iraq on the north and northeast, Kuwait, Qatar, Bahrain and the United Arab Emirates on the east, Oman on the southeast, and Yemen on the south. The Persian Gulf lies to the northeast and the Red Sea national oil company, Saudi Aramco Saudi Aramco is the state-owned national oil company of Saudi Arabia. It is the largest oil corporation in the world with the largest proven crude oil reserves and production. Headquartered in Dhahran, Saudi Arabia, Saudi Aramco also operates the world's largest single hydrocarbon network, the Master Gas System. It was known as just Aramco between, which the Saudi government bought in 1988 and changed its name from Arabian American Oil Company to Saudi Arabian Oil Company. The Saudi government also owns and operates Saudi Arabian Airlines Saudi Arabian Airlines is the national airline of Saudi Arabia, based in Jeddah. It operates domestic and international scheduled flights to over 70 destinations in the Middle East, Africa, Asia, Europe and North America. Domestic and international charter flights are operated, mostly during Ramadan and the Hajj season. The airline's main, and owns 70% of SABIC SABIC (Arabic: الشركة السعودية للصناعات الأساسية‎ ) is a diversified manufacturing company, active in chemicals and intermediates, industrial polymers, fertilizers and metals. It is the largest public company in Saudi Arabia as listed in Tadawul, but the Saudi government still owns 70% of its shares. Private sector, as well as many other companies. They are, however, being privatized gradually.

By country/international region

Australasia

In Australia and New Zealand, terms used for government-owned companies include: "state-owned enterprises State-owned enterprises in New Zealand are registered companies listed under Schedules 1 and 2 of the State-Owned Enterprises Act 1986. Most SOEs are former government departments or agencies that were corporatised" and "crown entities A Crown entity is an organisation that forms part of New Zealand's state sector established under the Crown Entities Act 2004, a unique umbrella governance and accountability statute. The Crown Entities Act is based on the corporate model where the governance of the organisation is split from the management of the organisation", in New Zealand New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses , and numerous smaller islands, most notably Stewart Island/Rakiura and the Chatham Islands. The indigenous Māori language name for New Zealand is Aotearoa, commonly translated as The Land of the Long White Cloud. The Realm of New Zealand also and government business enterprise (GBE), in Australia.

Local government Local government refers collectively to administrative authorities over areas that are smaller than a state. The term is used to contrast with offices at nation-state level, which are referred to as the central government, national government, or federal government. "Local government" only acts within powers delegated to it by councils and similar authorities also set up government corporations, such aswater supply Water supply is the process of self-provision or provision by third parties in the water industry, commonly a public utility, of water resources of various qualities to different users. Irrigation is covered separately companies and "local-authority trading enterprises A local authority trading enterprise was an organisation established in New Zealand under the Local Government Act 1974" (LATEs) (New Zealand), as separate corporations or business unit of the councils concerned.

Canada

In Canada The land occupied by Canada was inhabited for millennia by various groups of Aboriginal peoples. Beginning in the late 15th century, British and French expeditions explored, and later settled, along the Atlantic coast. France ceded nearly all of its colonies in North America in 1763 after the Seven Years' War. In 1867, with the union of three, government corporations often use the style "crown corporation Canadian Crown corporations are enterprises owned by the Canadian monarch within either the federal, provincial, or territorial jurisdictions of Canada. Crown corporations have a long standing presence in the country and have been instrumental in the formation of the state. They are involved in everything from the distribution, use, and price of", indicating that an organization is owned by the executive branch of the government, which derives its authority from the sovereign. Examples of crown corporations include the Canadian Broadcasting Corporation The Canadian Broadcasting Corporation, commonly known as the CBC, is a Canadian crown corporation that serves as the national public radio and television broadcaster. In French, it is called la Société Radio-Canada . The umbrella corporate brand is CBC/Radio-Canada, and Air Canada Air Canada is the flag carrier and largest airline of Canada. The airline, founded in 1936, provides scheduled and charter air transportation for passengers and cargo to 178 destinations worldwide. Its largest hub is Toronto Pearson International Airport in Ontario. Its main base is Montreal-Pierre Elliott Trudeau International Airport in Quebec before it underwent privatisation. Cabinet A Cabinet is a body of high-ranking members of the government, typically representing the executive branch. It can also sometimes be referred to as the Council of Ministers, an Executive Council, or Executive Committee ministers (Ministers of the Crown) often control the shares In financial markets, a share is a unit of account for various financial instruments including stocks , and investments in limited partnerships, and REITs. The common feature of all these is equity participation (limited in the case of preference shares) in such public corporations.

People's Republic of China

After 1949, all business entities in China b. ^ Simple characterizations of the political structure since the 1980s are no longer possible were created and owned by the government. In the late 1980s, the government began to reform the state-owned enterprise, and during the 1990s and 2000s, many mid-sized and small sized state-owned enterprises were privatized and went public. There are a number of different corporate forms which result in a mixture of public and private capital. In PRC terminology, a state-owned enterprise refers to a particular corporate form, which is increasingly being replaced by the listed company A public company or publicly traded company is a company that has permission to offer its registered securities for sale to the general public, typically through a stock exchange, or occasionally a company whose stock is traded over the counter (OTC) via market makers who use non-exchange quotation services. State-owned enterprises are governed by both local governments and, in the central government, the national State-owned Assets Supervision and Administration Commission of the State Council The State-owned Assets Supervision and Administration Commission of the State Council is a special commission of the People's Republic of China, directly under the State Council. It is responsible for managing China's state-owned enterprises, including appointing top executives and approving any mergers or sales of stock or assets, as well as.

Europe

In Western Europe Western Europe is a loose term for the collection of countries in the westernmost region of Europe, though this definition is context-dependent and carries cultural and political connotations. One definition describes Western Europe as a cultural entity—the region lying west of Central Europe. Another definition was created during the Cold War there was a massive nationalization Nationalization, also spelled nationalisation, is the act of taking an industry or assets into the public ownership of a national government or state. Nationalization usually refers to private assets, but may also mean assets owned by lower levels of government, such as municipalities, being transferred to the public sector to be operated by or throughout the 20th century, especially after World War II Albania · Australia · Austria · Azerbaijan · Belarus · Belgium · Brazil · Bulgaria · Burma · Cambodia · Canada · Ceylon (Sri Lanka) · Channel Islands · China · Czechoslovakia · Denmark · Dutch East Indies · Egypt · Estonia · Finland · France · Germany · Gibraltar · Greece · Greenland · Hong Kong · Hungary · Iceland · to ensure Government control over natural monopolies Natural monopolies arise where the largest supplier in an industry, often the first supplier in a market, has an overwhelming cost advantage over other actual and potential competitors. This tends to be the case in industries where capital costs predominate, creating economies of scale which are large in relation to the size of the market, and and to some extent industry Industry refers to the production of an economic good within an economy. There are four key industrial economic sectors: the primary sector, largely raw material extraction industries such as mining and farming; the secondary sector, involving refining, construction, and manufacturing; the tertiary sector, which deals with services (such as law. Typical sectors included telecommunications, power The electrical power industry provides the production and delivery of electrical power , often known as power, or electricity, in sufficient quantities to areas that need electricity through a grid. Many households and businesses need access to electricity, especially in developed nations, the demand being scarcer in developing nations. Demand for, petroleum Petroleum or crude oil is a naturally occurring, toxic, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights, and other organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling. It is refined and separated, most easily by, railways A railway company or railroad company is an entity that operates a railroad track and/or trains. Such a company can either be private or public. Some railway companies operate both the trains and the track, while particularly in Europe ownership of track and train operation is separated in different companies, airports An airport is a location where aircraft such as fixed-wing aircraft, helicopters, and blimps takeoff and land. Aircraft may be stored or maintained at an airport. An airport consists of at least one surface such as a runway for a plane to takeoff and land, a helipad, or water for takeoffs and landings, and often includes buildings such as control, airlines An airline provides air transport services for passengers or freight, generally with a recognized operating certificate or license. Airlines lease or own their aircraft with which to supply these services and may form partnerships or alliances with other airlines for mutual benefit, public transport Public transport is a shared passenger transportation service which are available for use by the general public, as distinct from modes such as Taxicab, car pooling which are not shared by strangers without private arrangement, health care Health care or healthcare is the treatment and prevention of illness. Health care is delivered by professionals in medicine, dentistry, nursing, pharmacy and allied health, postal services Mail, or post, is a method for transmitting information and tangible objects, wherein written documents, typically enclosed in envelopes and also small packages are delivered to destinations around the world. Anything sent through the postal system is called mail or post and sometimes banks Banking is generally a highly regulated industry, and government restrictions on financial activities by banks have varied over time and location. The current set of global bank capital standards are called Basel II. In some countries such as Germany, banks have historically owned major stakes in industrial corporations while in other countries. Many large industrial corporations were also nationalized or created as Government corporations, including among many British Steel British Steel was a major British steel producer. It originated as a nationalised industry, the British Steel Corporation , formed in 1967. This was converted to a limited company, British Steel PLC, and privatised in 1988. It was once a constituent of the FTSE 100 Index but following mergers, the business is now owned by Corus, a Tata Steel, Statoil Statoil ASA , trading as Statoil and formerly known as StatoilHydro, is a Norwegian energy company, formed by the 2007 merger of Statoil with the oil and gas division of Norsk Hydro and Irish Sugar Greencore Group plc is a food company in Ireland. Starting in the late 1970s and accelerating through the 1980s and 1990s many of these corporations were privatized Privatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector (businesses that operate for a private profit). In a broader sense, privatization refers to transfer of any government function to the private sector - including governmental functions, though many still remain wholly or partially owned by the respective governments.

A state-run enterprise needs to be distinguished from an ordinary limited liability corporation owned by the state. For example, in Finland, state-run enterprises (liikelaitos) are governed by a separate act. Even though responsible for their own finances, they cannot be declared bankrupt Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a business or corporate debtor in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by; the state answers for the liabilities. A state-run enterprise is technically not always a corporation, it might also be a separate state entity, or simply a governmental agency acting as an enterprise, perhaps having its own budget. Conversely, the state can directly fund unprofitable business. Stocks of the corporation are not sold and loans have to be government-approved, as they are government liabilities. In contrast, the state also owns controlling interest in ordinary limited liability corporations.

In Russia Russia (pronounced /ˈrʌʃə/ ; Russian: Россия, tr. Rossiya, pronounced [rɐˈsʲijə] ( listen)), also officially known as the Russian Federation (Russian: Российская Федерация, tr. Rossiyskaya Federatsiya, pronounced [rɐˈsʲijskəjə fʲɪdʲɪˈraʦəjə] ( listen)), is a country in northern Eurasia. It is a federal and some other post-Soviet states The post-Soviet states, also commonly known as the Former Soviet Union or former Soviet republics, are the 15 independent nations that split off from the Union of Soviet Socialist Republics in its breakup in December 1991. They were also referred to as the Newly Independent States (NIS), not withstanding that the Baltic states consider themselves, unitary enterprises are commercial organizations that have no ownership rights to the assets they uses in their operations. This form is possible only for state and municipal enterprises, operating with state or municipal property, respectively. The owners of the property of a unitary enterprise have no responsibility for its operation and vice versa.

The assets of unitary enterprises belong to the Federal government, a Russian region, or a municipality. A unitary enterprise holds assets under the right of economic management (for both state and municipal unitary enterprises) or operative management (for state unitary enterprises only), and that such assets may not be distributed among the participants, nor otherwise divided. A unitary enterprise is independent in economic issues and obliged only to give its profits to the state. Unitary enterprises would have no right to set up subsidiaries, but, with the owner's consent, can open branches and representation offices.

An example of such an enterprise is Mashpriborintorg.

By contrast, a state corporation (Russian: Государственная корпорация) is a non-profit organization which manages its assets as described in its charter. State Corporations are not obliged to submit to public authorities documents accounting for activities (except for a number of documents submitted to the Russian government) and, as a rule, are subordinate not to the government, but to the Russian president, and act to accomplish some important goal. Control of the Government is implemented on the basis of annual corporation, annual report on the audit opinion of accounting and financial reporting (accounting), as well as the conclusion of the auditing commission on the results of verification of financial (accounting) statements and other corporation documents. Any other federal government departments, organs of state power of subjects of the Russian Federation, the local governments have no right to interfere in the activities of the State corporation.

India

In India, public-sector undertaking (PSU) is a term used for a government-owned corporation (company in the public sector). The term is used to refer to companies in which the government (either the Union Government or state or territorial governments, or both) owned a majority (51 percent or more) of the company equity.

Japan

In Japan, Japan Post was reorganized into Japan Post Group in 2007 as a material step of the postal privatization. It is currently wholly owned by the government, but is planned to be sold into private ownership. Japan Railways Group (JR), Nippon Telegraph and Telephone (NTT) and Japan Tobacco (JT) were formerly owned by the government.

Singapore

The economy of Singapore is dominated by government-linked corporations that produce as much as 60% of the country's GDP.^[1] These government-linked companies are owned by a government holding agency, Temasek Holdings. Notable Government-linked corporations include Singapore Airlines, SingTel, ST Engineering, MediaCorp and Singapore Temasek Holdings.

South Africa

In South Africa "the Department of Public Enterprises is the shareholder representative of the South African Government with oversight responsibility for state-owned enterprises in key sectors, including: Defence, Energy, Forestry, ICT, Mining and Transport". The current (March 2010) Minister of Public Enterprises is Barbara Hogan.^[2]

The corporate entities that this department is responsible for are:

• Alexkor - Mining sector (diamond mining)
• Broadband Infraco - ICT sector (national backbone and international connectivity)
• Denel - Aerospace and Defence sector (armaments manufacturer)
• Eskom - Energy sector (national elecricity utility)
• PBMR - Energy sector (development of Pebble Bed Modular Reactor nuclear energy technology)
• South African Airways - Transport sector (international airline)
• SA Express - Transport sector (regional and feeder airline)
• SAFCOL - Forestry sector (manages forestry on state owned land)
• Transnet - Transport and related infrastructure sector (railways, harbours, oil/fuel pipelines and terminals)

Other corporate entities not under the Department of Public Enterprises include the South African Post Office and the South African Broadcasting Corporation.

Republic of China (Taiwan)

The founding father of the Republic of China, Sun Yat-sen, was heavily influenced by the economic ideas of Henry George, who believed that the rents extracted from natural monopolies or the usage of land belonged to the public. Dr. Sun argued for Georgism and emphasized the importance of a mixed economy, which he termed "The Principle of Minsheng" in his Three Principles of the People.

"The railroads, public utilities, canals, and forests should be nationalized, and all income from the land and mines should be in the hands of the State. With this money in hand, the State can therefore finance the social welfare programs."^[3]

Corporations such as CSBC Corporation, Taiwan, CPC Corporation, Taiwan and Aerospace Industrial Development Corporation are owned by the state in the Republic of China.

United States

The government-sponsored enterprises (GSEs) are a group of financial services corporations created by the United States Congress. Their function is to enhance the flow of credit to targeted sectors of the economy and to make those segments of the capital market more efficient and transparent. The desired effect of the GSEs is to enhance the availability and reduce the cost of credit to the targeted borrowing sectors: agriculture, home finance and education.^{[citation needed]} Congress created the first GSE in 1916 with the creation of the Farm Credit System; it initiated GSEs in the home finance segment of the economy with the creation of the Federal Home Loan Banks in 1932; and it targeted education when it chartered Sallie Mae in 1972 (although Congress allowed Sallie Mae to relinquish its government sponsorship and become a fully private institution via legislation in 1995). The residential mortgage borrowing segment is by far the largest of the borrowing segments in which the GSEs operate. Together, the three mortgage finance GSEs (Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks) have several^[quantify]trillion dollars of on-balance sheet assets.^{[citation needed]}. The federal government possesses warrants which, if exercised, would allow them to take a 79.9% ownership share in the companies. The federal government has not currently exercised these warrants. Government sponsored enterprises include:

• Fannie Mae
• Freddie Mac
• Farmer Mac
• Sallie Mae (former)
• Federal Home Loan Banks

The Federal Government chartered and owned corporations are a separate set of corporations enchartered and owned by the Federal Government, which operate to provide public services, but unlike the federal agencies (Environmental Protection Agency, Bureau of Indian Affairs), or the federal independent commissions (e.g. the Federal Communications Commission, the Nuclear Regulatory Commission, etc.), they have a separate legal personality from the Federal Government, providing the highest level of political independence. They sometimes receive Federal budgetary appropriations, but some also have independent sources of revenue. These include:

• National Railroad Passenger Corporation (Amtrak)
• Tennessee Valley Authority
• Corporation for Public Broadcasting
• Federal Deposit Insurance Corporation
• Federal Crop Insurance Corporation
• Millennium Challenge Corporation
• St. Lawrence Seaway Development Corporation
• Pension Benefit Guaranty Corporation
• Corporation for National and Community Service (Americorps)
• Overseas Private Investment Corporation
• Legal Services Corporation
• United States Postal Service
• Conrail (former)
• Resolution Trust Corporation (former)
• Panama Canal Commission (former)

The Federal Government acquired corporations are a separate set of corporations that were not chartered or created by the Federal Government, but the Federal Government has come into possession of and operates. These fall into two categories: incidental government corporations, those corporations temporarily in possession of the Government as a result of a seizure of property of a debtor to the Government, such as a delinquent taxpayer, usually these are awaiting auction, and most are too small to note, and government-acquired corporations, which are corporations whose stock or assets have been purchased by the Federal Government, as a result of the corporation being adjudged too big to fail, or, in other words, that their liquidation would present too much of a systemic risk to the total economy of the United States to allow the corporation to be liquidated, bankrupted, or otherwise wound up. These include:

• Citigroup
• General Motors (and others)
• AIG (American International Group) (and others)

There exists a second level of sovereign government in the United States after the Federal Government, those of the several States of the US, who compose the United States. State governments are bodies sovereign, like the Federal Government, and other sovereigns; they have sovereign existence deriving from the consent of the sovereign people of their territories who created them and wrote their State Constitution; they are not bodies corporate, as they are not created by the acquis of the Federal Government and exist with or without that Government's consent. As sovereigns, they have the power to hold radical title to land, to exercise the four fundamental powers, taxation, eminent domain, police power, and escheat, as well as numerous other powers, including the power to grant charters, and implicit in that power to charter is the power to charter corporations, which they do, extensively. The very vast majority of non-governmental corporations in the United States are chartered by the States of the US, and not the Federal Government, this includes most charitable corporations (though some charities of national repute are chartered by the Federal Government, and not by a State government), non-profit corporations, and for-profit corporations. States, as sovereigns, also have the power to charter corporations that they own, control, or are responsible for the regulation and finance of. These include municipal corporations and State chartered and owned corporations. Municipal corporations are public corporations that have devolved, democratic control over local matters within a geographic region; they are often styled villages, towns, townships, cities, or counties. Though these municipal corporations are often regulated and sometimes financed by the State government, and often can collect taxes, they are arms-length, non-sovereign, devolved public entities, and a State government which charters them is not legally responsible for their debts in the event of a municipal bankruptcy. State government chartered and owned corporations are numerous and provide public services. Examples include North Dakota Mill and Elevator or South Dakota Public Broadcasting. Generally speaking, a statute passed by a state legislature specifically sets up a government-owned company in order to undertake a specific public purpose with public funds or public property. Lotteries in the United States are also run by government corporations, such as the Georgia Lottery Corporation and many others.

There exists a third level of sovereign government in the United States as well, the sovereignty of the Native American tribal government. Native American tribes are comprehended as ancient sovereigns, established by their sovereign people since time immemorial, and recognized as sovereign by the Federal Government of the United States as well as the several States, and as such, the Native American (and Alaska Native) tribal government has rights appertaining to sovereigns, including the power to hold radical title to land, to exercise the four fundamental powers, taxation, eminent domain, police power, and escheat, as well as other powers, for instance, the power to charter corporations and undertake public undertakings that might benefit their tribal citizens, Native Americans and Alaska Natives also being citizens of their respective U.S. state, and also citizens of the United States. The Alaska Natives are particularly advanced in using their tribal sovereignty to incorporate corporations that are owned by and for the benefit of their tribal citizens and often compete in highly competitive economic sectors through the Alaska Native Regional Corporations. The Native American tribes in the Lower 48 states often use their sovereignty and their ability to charter to compete using regulatory easements; for instance, Native American tribal corporations often trade in goods that are highly taxed in surrounding states (such as tobacco), or engage in activities that surrounding states have (for reasons of public policy) forbidden, such as the operation of casinos or gaming establishments. Most of these endeavors have proven very successful for Native American tribal sovereigns and their tribal corporations, bringing wealth into the hands of Native Americans.

Uruguay

Uruguay had the first welfare state of Latin America under the presidency of José Batlle y Ordoñez in 1904. Government-owned corporations monopolize services such as electricity (UTE), land-line communications (Antel) and water (OSE). Antel competes with private corporations in the cell-phone lines and international telephony markets.^{[citation needed]} In 1992, under the presidency of Luis Alberto Lacalle, the government attempted to privatize all its companies, following the neoliberal Washington Consensus. However, a referendum won by 75% of the population kept the companies in the hands of the government. By the end of his term, president Lacalle alleged that he had achieved a successful modernisation of the companies, which had made them more efficient.

Summary

See also

• Nationalization
• Privatization
• Public company (public corporation)
• Public ownership
• Stock exchange
• Stock market
• Quango
• Crown corporations of Canada
• State-owned enterprises of New Zealand
• Statutory corporation
• Statutory Agency
• Government agency
• Public bodies
• Crown corporation
• Regulatory agency
• Non-departmental public body
• Federal agency
• Statsforetak (Norwegian state enterprise)
• Public Sector Undertaking (Indian state enterprise)
• Volkseigener Betrieb (East German state enterprise)
• State inside a state
• Public benefit corporation
• Special-purpose district

References

1. ^ CountryRisk Maintaining Singapore's Miracle
2. ^ http://www.dpe.gov.za/about
3. ^ Simei Qing "From Allies to Enemies", 19

Further reading

• The Public Firm with Managerial Incentives by Elmer G. Wiens.

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