Practicing (State) Capitalism at Petrobras and Rosneft

Amanda Zadorian

International Journal of Public Administration, 2021, vol. 44, issue 14, 1241-1252

Abstract: Why do state capitalist regimes, while aiming to increase control over the economy, introduce partial privatization and liberalization at their national oil companies (NOCs)? The article presents a case study and discourse analysis of liberalizing reforms to the management of “Health, Safety, and Environment” at the Russian and Brazilian NOCs. Employing a constructivist political economy approach emphasizing the co-constitution of state power and market power, it argues that adopting the practices of effective oil multinationals allows NOCs to represent themselves as capitalist corporations – not state bureaucracies – and thereby better fulfill their coordinating function in state-permeated market economies.

Date: 2021
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DOI: 10.1080/01900692.2021.1964082

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