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| dc.title | State-Owned Enterprise Reform in Latin America: Issues and Possible Solutions |
| dc.contributor.author | Musacchio, Aldo |
| dc.contributor.author | Pineda, Emilio |
| dc.contributor.author | García, Gustavo Antonio |
| dc.contributor.orgunit | Fiscal and Municipal Management Division |
| dc.coverage | Latin America |
| dc.date.available | 2015-09-03T00:00:00 |
| dc.date.issue | 2015-08-31T00:00:00 |
| dc.description.abstract | This paper examines the challenges governments in Latin America face to control their state-owned enterprises (SOEs). It argues that, absent privatization, governments can rely on a variety of reforms to address some of the main problems affecting SOEs. These problems are divided into corporate governance problems, which include agency and multiple-principals problems, and the fiscal governance problem, which has to do with the discretionary nature of the fiscal relationship between the government and its enterprises. Then the paper discusses a variety of solutions for each of these problems. Rather than providing a single recipe, it argues that governments can design governance mechanisms that rely on the market (e.g., by partially privatizing a firm and listing it on a stock exchange), on ex-ante administrative controls, or on hybrid solutions that combine both. Thus, the paper argues that the mechanisms to deal with the problems of SOEs have to be designed on a case-by-case basis, taking into account the specific problems of the public enterprise in question and the economic (and political) environment affecting it. |
| dc.format.extent | 51 |
| dc.identifier.doi | https://doi.org/10.18235/0000128 |
| dc.identifier.url | https://publications.iadb.org/publications/english/document/State-Owned-Enterprise-Reform-in-Latin-America-Issues-and-Possible-Solutions.pdf |
| dc.language.iso | en |
| dc.medium | Adobe PDF |
| dc.publisher | Inter-American Development Bank |
| dc.subject | Fiscal Management |
| dc.subject | Public Service |
| dc.subject | Fiscal Policy |
| dc.subject | Governance |
| dc.subject.jelcode | G30 - Corporate Finance and Governance: General |
| dc.subject.jelcode | H11 - Structure, Scope, and Performance of Government |
| dc.subject.jelcode | H50 - National Government Expenditures and Related Policies: General |
| dc.subject.jelcode | H77 - Intergovernmental Relations • Federalism • Secession |
| dc.subject.keywords | state reform;corporate governance;Latin America;fiscal decentralization;State-owned enterprises;privatization |
| dc.type | Discussion Papers |
| idb.identifier.pubnumber | Discussion Papers |