Abstract

CHAIA DE BELLIS, Jonás. State Capitalism or State Pragmatism? The Siderar-Techint, YPF, and AySA Cases During Kirchnerist Governments in Argentina. Temas debates (En línea) [online]. 2023, n.45, pp.39-66. ISSN 1853-984X.

This article affirms that the different management forms of State-owned enterprises do not correspond to different epochs but can coexist, on the contrary, not only in the same historical period, but also under the same government. Indeed, the State can be the total owner, a majority shareholder and a minority shareholder in different companies during the same government, having in each case more or less resources to intervene in markets and to exclude private actors from business decision-making processes. I will analyze three cases of State-owned enterprise management during Kirchnerist governments in Argentina: AySA in 2006 (State as full owner), YPF in 2012 (State as majority shareholder) and Siderar in 2011 (State as minority shareholder) following the hypothesis that each of these management forms was selected by the government depending on the circumstantial objectives that it had to face: rates freezing in the case of AySA, curbing the outflow of foreign currency in the case of YPF, and rent-seeking in the case of Siderar. This analysis will be carried out with a comparative political economy approach and following the theory-building process tracing method.

Keywords : State capitalism; nationalizations; kirchnerism; comparative political economy.

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