The Program for Society and the Environment and the Department of Sociology are hosting a presentation by Andrew Cheon, Ph.D. Assistant Professor of International Political Economy, Johns Hopkins School of Advanced International Studies. The title and abstract for the talk, as well as a brief bio, can be found below.
Developing Global Champions: Why National Oil Companies Expand Abroad
Under what conditions do state capitalists allow their state-owned enterprises (SOEs) to expand abroad? This question looms large in the oil and gas sector, where commercially driven national oil companies (NOCs) invest billions of dollars in politically unstable destinations abroad. I argue that two institutional attributes are crucial: bureaucratic structures and national stakeholders. NOCs from countries with a single energy ministry—a designated principal—and national stakeholders, such as competitively elected political parties, invest less frequently abroad than NOCs from countries missing either. A single energy ministry prevents NOCs from exploiting bureaucratic competition in the energy sector. National stakeholders keep the energy ministry legally accountable and subject NOCs to public debate. Based on an original dataset involving 78 countries spanning 2000-2013, I find a positive relationship between designated principals and NOC investments, which becomes insignificant as national stakeholders increase.
Andrew Cheon is Assistant Professor of International Political Economy at Johns Hopkins SAIS. His current research focuses on state capitalism, rising powers, international status, coercive diplomacy, environmental conflict, and energy investments. Before joining the SAIS faculty, he obtained his doctorate in Political Science from Columbia University. Prior to Columbia, he served as founding president of Duke East Asia Nexus, an academic journal. His work on topics such as state-owned enterprises, interest groups, energy innovation, renewables, and fossil fuel subsidies appeared in Comparative Political Studies, Journal of Conflict Resolution, Global Environmental Change, Political Studies, and Energy Policy. He recently completed a book manuscript on foreign investments of national oil companies. His first book, Activism and the Fossil Fuel Industry, was published in February 2018 by Routledge.