TY - BOOK ID - 85595659 TI - State-Owned Enterprises in Emerging Europe: The Good, the Bad, and the Ugly PY - 2017 SN - 148432644X 1484326261 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Macroeconomics KW - Public Finance KW - Industries: Energy KW - Industries: Service KW - Production and Operations Management KW - Corporate Finance and Governance: Government Policy and Regulation KW - Debt KW - Debt Management KW - Sovereign Debt KW - Comparison of Public and Private Enterprises and Nonprofit Institutions KW - Privatization KW - Contracting Out KW - Nonprofit Organizations and Public Enterprise: General KW - Energy and the Macroeconomy KW - Industry Studies: Services: General KW - Public Administration KW - Public Sector Accounting and Audits KW - Macroeconomics: Production KW - Public ownership KW - nationalization KW - Petroleum, oil & gas industries KW - Public finance & taxation KW - Public enterprises KW - Energy sector KW - Services sector KW - Contingent liabilities KW - Productivity KW - Economic sectors KW - Public financial management (PFM) KW - Production KW - Government business enterprises KW - Energy industries KW - Service industries KW - Fiscal policy KW - Industrial productivity KW - Sweden UR - https://www.unicat.be/uniCat?func=search&query=sysid:85595659 AB - State-owned enterprises (SOEs) play an important role in Emerging Europe’s economies, notably in the energy and transport sectors. Based on a new firm-level dataset, this paper reviews the SOE landscape, assesses SOE performance across countries and vis-à-vis private firms, and evaluates recent SOE governance reform experience in 11 Emerging European countries, as well as Sweden as a benchmark. Profitability and efficiency of resource allocation of SOEs lag those of private firms in most sectors, with substantial cross-country variation. Poor SOE performance raises three main risks: large and risky contingent liabilities could stretch public finances; sizeable state ownership of banks coupled with poor governance could threaten financial stability; and negative productivity spillovers could affect the economy at large. SOE governance frameworks are partly weak and should be strengthened along three lines: fleshing out a consistent ownership policy; giving teeth to financial oversight; and making SOE boards more professional. ER -