Back Matter
Author: Uwe Böwer

VI. Annex

Table A1.

Recent SOE Reform Experience in Emerging Europe and Sweden

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VII. References

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1

I thank Reza Baqir, Brian Olden, and seminar participants in the IMF’s European Department and Fiscal Affairs Department for providing helpful comments.

2

State ownership is defined as a minimum stake of 50.1 percent. The indicated numbers refer to the maximum available firm data. For several indicators reported in this paper, the actual availability of data varies by country and sector.

3

This paper adopts a wide definition of the term “SOE”, including firms owned by the central government as well as sub-national government levels, classified within and outside of general government accounts.

4

Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, and Slovenia.

5

Sectors are defined in line with NACE-2 sections as follows: Mining (B – mining & quarrying), other industries & agriculture (A – agriculture, C – manufacturing, F – construction), energy (D – electricity, gas, steam and air conditioning supply), water utilities (E – water supply, sewerage, waste management and remediation activities), transport (H49-H52 – land, water and air transport and warehousing/support activities for transportation), postal services (H53 – postal and courier services), healthcare (Q – human health and social work activities), other services (G – wholesale and retail trade, I – accommodation, J – ICT services, K – financial services, L – real estate services, M – professional activities, N – administrative and support services, P – education, R – arts & entertainment, S – other service activities).

6

In addition to firm number, employment, and output, it was attempted to include value-added in this presentation, recognizing that output data tends to be biased by varying degrees of intermediate good inputs. However, data scarcity as well as the prevalence of negative values for value-added, on the back of negative profits, led to the exclusion of the constructed value-added indicator.

7

Hospitals and medical centers account for around half of SOEs in Bulgaria as they are set up as trade companies since a healthcare reform in 2000. In other countries, the healthcare sector plays a far smaller role, or is completely absent from the SOE dataset. Given the atypical role of healthcare for SOE analysis, this sector is excluded from the remainder of the paper. The same applies for postal services which, despite partly sizable employment, contributes very little to the number of SOEs and SOE output.

State-Owned Enterprises in Emerging Europe: The Good, the Bad, and the Ugly
Author: Uwe Böwer