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Institutional Change and State-Owned Enterprises: Reflections from the Petrobras case study

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  • María José Paz

Abstract

The Brazilian oil and gas (O&G) sector has experienced institutional changes that put an end to the state monopoly. The purpose of this article is to explain why Petrobras has remained dominant after the sector had been opened to competition. We consider that it is possible to explain this paradox via two ideas that emanate from North's analysis on institutional change: first, by explaining institutional change as a continuous interrelation between formal and informal institutions and the political and economic organizations involved; second, by considering institutional change as a path-dependent process marked by a dialectic between elements of change and continuity.

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  • María José Paz, 2015. "Institutional Change and State-Owned Enterprises: Reflections from the Petrobras case study," Public Management Review, Taylor & Francis Journals, vol. 17(6), pages 791-811, July.
    • Handle: RePEc:taf:pubmgr:v:17:y:2015:i:6:p:791-811
    DOI: 10.1080/14719037.2013.822534
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    Cited by:

    1. Ramírez-Cendrero, Juan M. & Paz, María J., 2017. "Oil fiscal regimes and national oil companies: A comparison between Pemex and Petrobras," Energy Policy, Elsevier, vol. 101(C), pages 473-483.
    2. Ribeiro, F., 2017. "The accidental Trojan horse: Plea bargaining as an anticorruption tool in Brazil," ISS Working Papers - General Series 627, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    3. de Aguiar, Thereza R.S. & Freire, Fatima de Souza, 2017. "Shifts in modes of governance and sustainable development in the Brazilian oil sector," European Management Journal, Elsevier, vol. 35(5), pages 701-710.

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