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Smoldering Embers: Do State-Owned Enterprises Threaten Fiscal Stability in the Caribbean?

Author

Listed:
  • Reyes-Tagle, Gerardo
  • Musacchio, Aldo
  • Hosein, Roger
  • Wagner, Rodrigo
  • Pan, Carolina
  • Yu, Fernando
  • Park, Yery
  • Gookool, Rebeca
  • Escobar, Bernardita
  • La Cruz, Tamira
  • Araya, Sergio
  • Figueroa, Camila
  • Rosso, Lucas

Abstract

This book examines the role of state-owned enterprises (SOEs) in contributing to the fiscal instability of the Bahamas, Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago (CCB6), with the aim of providing tangible guidance for policymakers seeking to address this issue. Using an original dataset of SOE performance in the Caribbean, the contributors focus on the fiscal implications of unchecked growth, poor oversight, and mismanagement of SOEs, with particular focus on commercial SOEs. The authors examine the historical, economic, and socio-political context of SOEs in the CCB6 and stress the need for simultaneous fiscal reform both at the federal and firm levels. The authors analyze the SOE sectors growth and performance to date, revealing entrenched challenges, specifically around incentives and accountability. The recommendations propose adaptations of accepted international best practices and lay out long-term objectives and the more feasible points of entry for fiscal reform.

Suggested Citation

  • Reyes-Tagle, Gerardo & Musacchio, Aldo & Hosein, Roger & Wagner, Rodrigo & Pan, Carolina & Yu, Fernando & Park, Yery & Gookool, Rebeca & Escobar, Bernardita & La Cruz, Tamira & Araya, Sergio & Figuero, 2022. "Smoldering Embers: Do State-Owned Enterprises Threaten Fiscal Stability in the Caribbean?," IDB Publications (Books), Inter-American Development Bank, number 11972, December.
    • Handle: RePEc:idb:idbbks:11972
    DOI: http://dx.doi.org/10.18235/0004001
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    References listed on IDEAS

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    1. Robert C. Feenstra & Robert Inklaar & Marcel P. Timmer, 2015. "The Next Generation of the Penn World Table," American Economic Review, American Economic Association, vol. 105(10), pages 3150-3182, October.
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    Cited by:

    1. Herrera Dappe, Matías & Musacchio, Aldo & Turkgulu, Burak & Pan, Carolina & Barboza, Jonathan & Semikolenova, Yadviga, 2024. "State-owned enterprises as countercyclical instruments: Quasi-experimental evidence from the infrastructure sector," World Development, Elsevier, vol. 179(C).

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    More about this item

    Keywords

    state-owned enterprises; SOE; fiscal stability; macro and fiscal risk of SOEs; SOE performance; SOE reform; SOEs in the Caribbean;
    All these keywords.

    JEL classification:

    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration
    • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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