Croatia Integrated State-Owned Enterprises Framework Assessment

Croatia Integrated State-Owned Enterprises Framework Assessment

The report provides one of the first comprehensive applications of the World Bank’s new integrated SOE framework (iSOEF) in Europe. Based on firm-level data, it provides analytical arguments indicating underperformance of the Croatian SOE sector, w...

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Bibliographic Details
Main Author: World Bank
Format: Report
Language:English
Published: World Bank, Washington, DC 2021
Subjects:
STATE-OWNED ENTERPRISES
CORPORATE GOVERNANCE
ACCOUNTABILITY
REFORM AGENDA
PRODUCTIVITY
EFFICIENCY
WAGES
SUBSIDIES
Online Access:http://documents.worldbank.org/curated/en/377041623061549782/Croatia-Integrated-State-Owned-Enterprises-Framework-iSOEF-Assessment
http://hdl.handle.net/10986/35706
id okr-10986-35706
recordtype oai_dc
spelling okr-10986-357062021-06-09T05:11:02Z Croatia Integrated State-Owned Enterprises Framework Assessment World Bank STATE-OWNED ENTERPRISES CORPORATE GOVERNANCE ACCOUNTABILITY REFORM AGENDA PRODUCTIVITY EFFICIENCY WAGES SUBSIDIES The report provides one of the first comprehensive applications of the World Bank’s new integrated SOE framework (iSOEF) in Europe. Based on firm-level data, it provides analytical arguments indicating underperformance of the Croatian SOE sector, which ultimately stems from corporate governance deficiencies. As the report points to areas where reforms are of utmost importance and gives actionable policy recommendations, it is intended to be used for deepening the policy dialogue in the area of SOEs with Croatian authorities. The analysis covers non-financial companies with central government ownership of at least 50 percent. Short analysis of local government SOEs is given in Annex one. Long-term state asset management reform efforts intensified after 2013 with the intention to improve the SOEs management and reduce their fiscal burden. Also, two reforms were introduced in 2017, pertaining to the restructuring of the Central State Office for State Asset Management into the Ministry of State Assets, intended to foster a more coordinated approach and give impetus to the restructuring and privatization of SOEs; and the adoption of a new Corporate Governance Code. As of 2020, the Ministry of State Assets was merged with the Ministry of Construction and Physical Planning, and these reforms are yet to yield desired effects in terms of SOEs´ efficiency and return. 2021-06-08T18:28:40Z 2021-06-08T18:28:40Z 2021-05-01 Report http://documents.worldbank.org/curated/en/377041623061549782/Croatia-Integrated-State-Owned-Enterprises-Framework-iSOEF-Assessment http://hdl.handle.net/10986/35706 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Corporate Governance Assessment Europe and Central Asia Croatia
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic STATE-OWNED ENTERPRISES
CORPORATE GOVERNANCE
ACCOUNTABILITY
REFORM AGENDA
PRODUCTIVITY
EFFICIENCY
WAGES
SUBSIDIES
spellingShingle STATE-OWNED ENTERPRISES
CORPORATE GOVERNANCE
ACCOUNTABILITY
REFORM AGENDA
PRODUCTIVITY
EFFICIENCY
WAGES
SUBSIDIES
World Bank
Croatia Integrated State-Owned Enterprises Framework Assessment
geographic_facet Europe and Central Asia
Croatia
description The report provides one of the first comprehensive applications of the World Bank’s new integrated SOE framework (iSOEF) in Europe. Based on firm-level data, it provides analytical arguments indicating underperformance of the Croatian SOE sector, which ultimately stems from corporate governance deficiencies. As the report points to areas where reforms are of utmost importance and gives actionable policy recommendations, it is intended to be used for deepening the policy dialogue in the area of SOEs with Croatian authorities. The analysis covers non-financial companies with central government ownership of at least 50 percent. Short analysis of local government SOEs is given in Annex one. Long-term state asset management reform efforts intensified after 2013 with the intention to improve the SOEs management and reduce their fiscal burden. Also, two reforms were introduced in 2017, pertaining to the restructuring of the Central State Office for State Asset Management into the Ministry of State Assets, intended to foster a more coordinated approach and give impetus to the restructuring and privatization of SOEs; and the adoption of a new Corporate Governance Code. As of 2020, the Ministry of State Assets was merged with the Ministry of Construction and Physical Planning, and these reforms are yet to yield desired effects in terms of SOEs´ efficiency and return.
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title Croatia Integrated State-Owned Enterprises Framework Assessment
title_short Croatia Integrated State-Owned Enterprises Framework Assessment
title_full Croatia Integrated State-Owned Enterprises Framework Assessment
title_fullStr Croatia Integrated State-Owned Enterprises Framework Assessment
title_full_unstemmed Croatia Integrated State-Owned Enterprises Framework Assessment
title_sort croatia integrated state-owned enterprises framework assessment
publisher World Bank, Washington, DC
publishDate 2021
url http://documents.worldbank.org/curated/en/377041623061549782/Croatia-Integrated-State-Owned-Enterprises-Framework-iSOEF-Assessment
http://hdl.handle.net/10986/35706
_version_ 1764483590089867264

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