State-Owned Enterprises in Middle East, North Africa, and Central Asia: Size, Costs, and Challenges PDF Download
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Author: Mr. Ernesto Ramirez Rigo
Publisher: International Monetary Fund
ISBN: 1513594087
Category : Business & Economics
Languages : en
Pages : 153
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Book Description
Prior to the COVID-19 shock, the key challenge facing policymakers in the Middle East, North Africa, and Central Asia region was how to generate strong, sustainable, job-rich, inclusive growth. Post-COVID-19, this challenge has only grown given the additional reduction in fiscal space due to the crisis and the increased need to support the recovery. The sizable state-owned enterprise (SOE) footprint in the region, together with its cost to the government, call for revisiting the SOE sector to help open fiscal space and look for growth opportunities.
Author: Mr. Ernesto Ramirez Rigo
Publisher: International Monetary Fund
ISBN: 1513594087
Category : Business & Economics
Languages : en
Pages : 153
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Book Description
Prior to the COVID-19 shock, the key challenge facing policymakers in the Middle East, North Africa, and Central Asia region was how to generate strong, sustainable, job-rich, inclusive growth. Post-COVID-19, this challenge has only grown given the additional reduction in fiscal space due to the crisis and the increased need to support the recovery. The sizable state-owned enterprise (SOE) footprint in the region, together with its cost to the government, call for revisiting the SOE sector to help open fiscal space and look for growth opportunities.
Author: World Bank Publications
Publisher: World Bank Publications
ISBN: 1464802297
Category : Business & Economics
Languages : en
Pages : 391
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Book Description
This Toolkit provides an overall framework with practical tools and information to help policymakers design and implement corporate governance reforms for state-owned enterprises. It concludes with guidance on managing the reform process, in particular how to prioritize and sequence reforms, build capacity, and engage with stakeholders.
Author: Organisation for Economic Co-operation and Development
Publisher: Org. for Economic Cooperation & Development
ISBN:
Category : Business & Economics
Languages : en
Pages : 236
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Book Description
This publication gives a comparative review of corporate governance practices in relation to state-owned enterprises in OECD countries, including scale and organisation, board composition and functions, relationships with non-state shareholders, the role of stakeholders transparency and disclosure.
Author: Uwe Böwer
Publisher: International Monetary Fund
ISBN: 1484326261
Category : Business & Economics
Languages : en
Pages : 27
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Book Description
State-owned enterprises (SOEs) play an important role in Emerging Europe’s economies, notably in the energy and transport sectors. Based on a new firm-level dataset, this paper reviews the SOE landscape, assesses SOE performance across countries and vis-à-vis private firms, and evaluates recent SOE governance reform experience in 11 Emerging European countries, as well as Sweden as a benchmark. Profitability and efficiency of resource allocation of SOEs lag those of private firms in most sectors, with substantial cross-country variation. Poor SOE performance raises three main risks: large and risky contingent liabilities could stretch public finances; sizeable state ownership of banks coupled with poor governance could threaten financial stability; and negative productivity spillovers could affect the economy at large. SOE governance frameworks are partly weak and should be strengthened along three lines: fleshing out a consistent ownership policy; giving teeth to financial oversight; and making SOE boards more professional.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264173706
Category :
Languages : en
Pages : 42
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Book Description
These principles of corporate governance, endorsed by the OECD Council at Ministerial level in 1999, provide guidelines and standards to insure inclusion, accountability and abilit to attract capital.
Author: Lars Sondergaard
Publisher: World Bank Publications
ISBN: 0821380966
Category : Education
Languages : en
Pages : 273
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Book Description
Future growth in the countries in Eastern Europe and Central Asia (ECA) will increasingly depend on innovation. And innovation requires skills. This makes it important, as countries plan for recovery, to undertake reforms to reduce the skills shortages that the previous growth episode exposed. Education systems have a very important role to play in creating the right skills. But education systems in the region fall short of the demands of their economies in two major ways. The first is that despite high levels of enrollment they do not produce enough graduates with the right skills. Students graduate with diplomas, not with skills, because the quality of the education for many students is poor. In large part this is because education systems remain focused on providing an excellent education to a few at the expense of improving the quality of learning for the majority. Moreover, the systems are still making the transition from teaching the basics to inculcating higher order skills such as critical-thinking and problem solving. The second way in which education systems fall short is that outside of a few countries in the EU there are few opportunities for adults to retrain, or acquire new skills. This book argues that generating more of the right skills requires a fundamental change of approach in the education systems in the region so that they aim for, and deliver, higher quality education for the vast majority of students (not just diplomas but skills). To start with, education systems need to turn the lights on and take seriously the measurement of what students actually learn as opposed to measurement of the inputs into the education process on the implicit assumption that learning follows. Policy makers also need to move away from the focus on inputs and processes and increase the emphasis on incentives.
Author: Sang-Woo Nam
Publisher:
ISBN:
Category : Corporate governance
Languages : en
Pages : 220
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Book Description
Author: Roman Frydman
Publisher: Central European University Press
ISBN: 9633864917
Category : Business & Economics
Languages : en
Pages : 239
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Book Description
In Eastern Europe privatization is now a mass phenomenon. The authors propose a model of it by means of an illustration from the example of Poland, which envisages the free provision of shares in formerly public undertakings to employees and consumers, and the provision of corporate finance from foreign intermediaries. One danger that emerges is that of bureaucratization. On the broader canvas, mass privatization implies the reform of the whole system, the creation of a suitable economic infrastructure for a market economy and the institutions of corporate governance. The authors point out the need for a delicate balance between evolution - which may be too slow - and design - which brings the risk of more government involvement than it is able to manage. A chapter originating as a European Bank working paper explores the banking implications of setting up a totally new financial sector with interlocking classes of assets. The economic effects merge into politics as the role of the state is investigated. Teachers and graduate students of public/private sector economies, East European affairs; advisers to bankers or commercial companies with Eastern European interests.
Author: Jeffrey Neil Gordon
Publisher: Oxford University Press
ISBN: 0198743688
Category : Business & Economics
Languages : en
Pages : 1217
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Book Description
Corporate law and corporate governance have been at the forefront of regulatory activities across the world for several decades now, and are subject to increasing public attention following the Global Financial Crisis of 2008. The Oxford Handbook of Corporate Law and Governance provides the global framework necessary to understand the aims and methods of legal research in this field. Written by leading scholars from around the world, the Handbook contains a rich variety of chapters that provide a comparative and functional overview of corporate governance. It opens with the central theoretical approaches and methodologies in corporate law scholarship in Part I, before examining core substantive topics in corporate law, including shareholder rights, takeovers and restructuring, and minority rights in Part II. Part III focuses on new challenges in the field, including conflicts between Western and Asian corporate governance environments, the rise of foreign ownership, and emerging markets. Enforcement issues are covered in Part IV, and Part V takes a broader approach, examining those areas of law and finance that are interwoven with corporate governance, including insolvency, taxation, and securities law as well as financial regulation. The Handbook is a comprehensive, interdisciplinary resource placing corporate law and governance in its wider context, and is essential reading for scholars, practitioners, and policymakers in the field.
Author: Jean-Louis Racine
Publisher: World Bank Publications
ISBN: 0821385097
Category : Business & Economics
Languages : en
Pages : 360
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Book Description
Standards are everywhere, yet go mostly unnoticed. They define how products, processes, and people interact, assessing these entities’ features and performance and signaling their level of quality and reliability. They can convey important benefits to trade, productivity, and technological progress and play an important role in the health and safety of individual consumers and the environment. Firms’ ability to produce competitive products depends on the availability of adequate quality-support services. A “national quality infrastructure” denotes the chain of public and private services (standardization, metrology, inspection, testing, certification, and accreditation) needed to ascertain that products and services introduced in the marketplace meet defined requirements, whether demanded by authorities or by consumers. In much of Eastern Europe and Central Asia, national quality infrastructure systems are underdeveloped and not harmonized with those of their trading partners. This imbalance increases trade costs, hinders local firms’ competitiveness, and weakens overall export performance. The objective of Harnessing Quality for Global Competitiveness in Eastern Europe and Central Asia is to highlight the need to reform and modernize the institutions in the region toward better quality and standards. The book ties in with much of the work done in the World Bank on the business environment, trade facilitation, economic diversification, and enterprise innovation. The countries in the region can improve this situation, revising mandatory standards, streamlining technical regulations, and harmonizing their national quality infrastructure with those of regional and international trade partners. Most governments will need to invest strategically in their national quality infrastructure, including pooling services with neighboring countries and stimulating local awareness and demand for quality. Specifically for the countries of the former Soviet Union, the restructuring process will need to improve governance, thus eliminating conflicts of interest and providing technically credible services to the economy.
