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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.

Macroeconomics --- Public Finance --- Industries: Energy --- Industries: Service --- Production and Operations Management --- Corporate Finance and Governance: Government Policy and Regulation --- Debt --- Debt Management --- Sovereign Debt --- Comparison of Public and Private Enterprises and Nonprofit Institutions --- Privatization --- Contracting Out --- Nonprofit Organizations and Public Enterprise: General --- Energy and the Macroeconomy --- Industry Studies: Services: General --- Public Administration --- Public Sector Accounting and Audits --- Macroeconomics: Production --- Public ownership --- nationalization --- Petroleum, oil & gas industries --- Public finance & taxation --- Public enterprises --- Energy sector --- Services sector --- Contingent liabilities --- Productivity --- Economic sectors --- Public financial management (PFM) --- Production --- Government business enterprises --- Energy industries --- Service industries --- Fiscal policy --- Industrial productivity --- Sweden

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• Reference Manager
• EndNote
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