Economics of State-Owned Enterprises

Tālis J. Putniņš

International Journal of Public Administration, 2015, vol. 38, issue 11, 815-832

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.

Date: 2015
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Citations: View citations in EconPapers (6)

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DOI: 10.1080/01900692.2014.982289

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