parastatal
UK[ˌpærəˈsteɪtəl]US[ˌpærəˈsteɪtəl]
adj
Owned or controlled wholly or partly by the state.
n
A company or organization that is owned or controlled wholly or partly by the state.
Morpheme Breakdown
para
statal
para
beside
statal
of the state
Etymology
The term 'parastatal' is a modern 20th-century formation, directly constructed from classical roots to describe a new socio-economic concept. It combines the Greek prefix 'para-' (beside, alongside) with the Latin-derived adjective 'statal' (of the state). The literal construction yields "beside the state," which perfectly captures the entity's hybrid nature: it operates alongside, and is supported by, the formal government apparatus while often maintaining a degree of operational independence. This logical fusion of Greek and Latin elements provides a precise descriptor for organizations that exist in the space between fully private enterprise and direct government department.
Analysis
Structure: para (beside) + statal (of the state)
- para: From Greek, meaning "beside, alongside, beyond". In this word, it functions as a prefix indicating something auxiliary to or alongside the main entity.
- statal: From Latin status (state, condition, standing), via the English word "state". The suffix "-al" forms an adjective meaning "of or pertaining to". Here, it functions as the core root meaning "of the state".
Examples
The government established a parastatal company to manage the national railway system.
Critics argue that the parastatal sector is often inefficient and shielded from market competition.
She secured a senior management position at a major energy parastatal.