State entrepreneurship is a policy through which productive enterprises are owned as public agencies but operated in accordance with standard business criteria. State intervention of this kind is increasingly common in the Third World, where the policy is a response to the entrepreneurial capabilities and proclivities of local-private and multinational enterprise. Existing accounts of the interrelationship of state, local, and multinational entrepreneurship are studied and found to have a number of theoretical shortcomings. These deficiencies are eliminated by formalizing the central tenets of the explanations and then deducing the generic properties of entrepreneurship histories. In turn, nonintuitive insights emerge concerning the prospects for survival of the triple alliance of state, local, and multinational capital. Finally, the groundwork is laid for a more in-depth study of selected political and economic determinants of state entrepreneurship.
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John R. Freeman (1982) studied this question.