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Economic growth is below what would be needed to resume rapid convergence to average OECD living standards. On-going efforts to improve the business climate are laudable, but need to be widened and strengthened. Much progress has been achieved in reducing red tape, but it is only recently that...
Persistent link: https://www.econbiz.de/10011392847
State-owned enterprises (SOEs) are often justified for correcting market failures, providing essential public services, and fulfilling social objectives. Yet, SOEs face unique governance challenges as agency conflicts usually increase with state ownership. This paper examines Brazil's efforts to...
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In this paper we estimate the effects of the 1991 breakups of Czechoslovak state owned enterprises (SOEs) on subsequent performance of the master enterprises and the spun-off units. Our analysis is based on quarterly and annual data of Czechoslovak industrial enterprises. We estimate the...
Persistent link: https://www.econbiz.de/10013148684
Using firm-level data, we estimate the effects of the major wave of 1991 breakups of Czechoslovak state-owned enterprises on the subsequent performance of the "master enterprises" and spun-off divisions. We estimate the performance effects of spinoffs by comparing the performance of enterprises...
Persistent link: https://www.econbiz.de/10014035652
mechanism of efficiency improvement relating to partial privatization. In this paper, we endogenize efficiency improvement in … relation to the level of privatization. We show that in the short run, an improvement in efficiency associated with a state … full nationalization. However, we argue that the optimal policy for a state-owned firm is partial privatization. Moreover …
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