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Economics of State-Owned Enterprises

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Abstract

State-owned enterprises (SOEs) account for a substantial proportion of gross domestic product, employment, and assets in many countries. Based on a review of the theory and empirical evidence, we develop a novel five-step framework that can guide policymakers and economic advisors in making decisions about maintaining and/or creating SOEs. The framework suggests that the use of SOEs should be limited to circumstances in which a market failure exists, less invasive forms of intervention such as regulation/taxes/subsidies and private-sector contracting are ineffective or not possible, and the welfare loss of the market failure exceeds the costs, distortions, and inefficiencies of SOEs.

Suggested Citation

  • Talis Putnins, 2015. "Economics of State-Owned Enterprises," Published Paper Series 2015-3, Finance Discipline Group, UTS Business School, University of Technology, Sydney.
    • Handle: RePEc:uts:ppaper:2015-3
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    File URL: https://www.tandfonline.com/doi/abs/10.1080/01900692.2014.982289
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    Citations

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    Cited by:

    1. Piotr Matuszak & Katarzyna Szarzec, 2019. "The Scale and Financial Performance of State-Owned Enterprises in the CEE Region," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 69(4), pages 549-570, December.
    2. Jakopin Edvard & Gračanac Aleksandar & Aničić Jugoslav, 2021. "Restructuring of State Enterprises as a Prerequisite for Economic Growth in the Republic of Serbia," Economic Themes, Sciendo, vol. 59(1), pages 1-22, March.
    3. Mr. Jacques A Miniane & Ezequiel Cabezon & Mr. Sebastian Weber & Christine J. Richmond & Ms. Dora Benedek & Mr. James Roaf & Mr. Francisco J Parodi & Mr. Peter Dohlman & Rima Turk & Bobana Cegar & Mic, 2019. "Reassessing the Role of State-Owned Enterprises in Central, Eastern and Southeastern Europe," IMF Departmental Papers / Policy Papers 2019/010, International Monetary Fund.
    4. Ruiyuan Chen & Sadok El Ghoul & Omrane Guedhami & Chuck C. Y. Kwok & Robert Nash, 2021. "International evidence on state ownership and trade credit: Opportunities and motivations," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(6), pages 1121-1158, August.
    5. Katarzyna Szarzec & Wanda Nowara & Mirosława Żurek, 2017. "Forma własności a wyniki ekonomiczne największych przedsiębiorstw krajów Europy Środkowo-Wschodniej," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 3, pages 89-114.
    6. Luu Thi Nguyen & Shouming Chen & Ho Kwong Kwan, 2021. "CEO Temporal Focus and Corporate Philanthropy: The Moderating Role of Ownership," SAGE Open, , vol. 11(1), pages 21582440211, March.
    7. K.S.Reddy, 2019. "Pot the ball? Sovereign wealth funds’ outward FDI in times of global financial market turbulence: A yield institutions-based view," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 19(4), pages 129-139.
    8. Sękowski, Stefan, 2021. "The pros and cons of rent-seeking: Political rent in various research paradigms," Studia z Polityki Publicznej / Public Policy Studies, Warsaw School of Economics, vol. 8(2), pages 1-17, July.
    9. Reddy, K.S. & Xie, En & Huang, Yuanyuan, 2016. "Cross-border acquisitions by state-owned and private enterprises: A perspective from emerging economies," Journal of Policy Modeling, Elsevier, vol. 38(6), pages 1147-1170.
    10. Xie, En & Reddy, K.S. & Liang, Jie, 2017. "Country-specific determinants of cross-border mergers and acquisitions: A comprehensive review and future research directions," Journal of World Business, Elsevier, vol. 52(2), pages 127-183.

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