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Uwe Böwer
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.
International Monetary Fund
This Selected Issues paper and Statistical Appendix analyzes growth and recovery in Mongolia during transition. The paper describes the major sources of economic growth in Mongolia since the early 1980s in the context of a basic growth accounting framework. It discusses Mongolia’s post-transition growth performance relative to other transition countries. This paper also summarizes the main weaknesses of the existing national accounts statistics and reviews the recent developments and prospects for the main components of GDP.