A Synthesis

Anjali Kumar
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Anjali Kumar: World Bank

Chapter 7 in State Holding Companies and Public Enterprises in Transition, 1993, pp 227-249 from Palgrave Macmillan

Abstract: Abstract The starting point of this study was that many countries which have in the past been subjected to central planning or a high level of state control today desire a transition towards a market economy. The movement away from state ownership and control of productive resources has been considered desirable on grounds of both efficiency and ideology. Severe difficulties have been encountered in the practical implementation of this objective, and in many cases these difficulties have slowed down the process of transition even in countries which are clearly committed to this end. A phasing in of the changes involved, and the adoption of interim or intermediate instruments, has been forced by practical and sometimes political constraints. One of the transitional instruments which has been widely used in this process is the establishment of indirect state ownership of productive resources, particularly industrial enterprises, through state holding companies or state asset management institutions. The intention is to grant a measure of autonomy to these institutions, and the public enterprises below them, before real ownership transfer can be effected. What is the value of such institutions and are they able to assist the achievement of these objectives? These are the issues which have been addressed in this study.

Keywords: Stock Market; Market Economy; Minority Shareholder; Supervisory Board; Investment Fund (search for similar items in EconPapers)
Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-23010-5_7

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DOI: 10.1007/978-1-349-23010-5_7

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