Governance Reforms of State-Owned Enterprises : Lessons from Four Case Studies (Egypt, Iraq, Morocco, and Tunisia)
The state-owned enterprise (SOE) landscape has become increasingly diverse. There used to be some relatively well-defined criteria, but with the growing complexity of state participation in the economy, there is no longer a uniform definition, and...
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| Format: | Report |
| Language: | English en_US |
| Published: |
Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/08/24950067/middle-east-north-africa-governance-reforms-state-owned-enterprises-soes-lessons-four-case-studies-egypt-iraq-morocco-tunisia http://hdl.handle.net/10986/22749 |
| Summary: | The state-owned enterprise (SOE)
landscape has become increasingly diverse. There used to be
some relatively well-defined criteria, but with the growing
complexity of state participation in the economy, there is
no longer a uniform definition, and especially because the
definition of a SOE has always been country-specific. SOE
reforms can have major positive impacts not only by reducing
fiscal risks by decreasing hidden subsidies, direct
transfers, and overstaffing, but also by strengthening
competition and developing capital markets. SOE reforms in
developing countries began in the 1960s because of the poor
performance of many of the SOEs. The reform movement sought
to strengthen the internal capacity of SOEs. To enrich the
discussion about possible avenues for performance-enhancing
SOE reforms, this report presents the main principles of
good governance of SOEs with references to the Organization
for Economic Co-operation and Development (OECD) guidelines
on corporate governance of SOEs (OECD 2005). This document
is divided into six parts: (1) an effective legal and
regulatory framework for SOEs; (2) the state as an owner;
(3) equitable treatment of shareholders; (4) relations with
stakeholders; (5) transparency and disclosure; and (6) the
responsibilities of the boards of SOEs. |
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