State-Owned Enterprise Policy and the Loss of Economic Sovereignty: The Case of Ireland
Dónal Palcic and
Eoin Reeves ()
Public Organization Review, 2013, vol. 13, issue 2, 117-130
The global financial crisis that erupted in 2008 has had enormous implications for the composition of the state-owned enterprise (SOE) sector in many advanced economies around the world. The crisis resulted in the nationalization of financial institutions in a number of economies, but has also led to a number of countries pursuing policies of privatization to raise much needed revenue to tackle high levels of indebtedness. This article describes the changes to the composition of the Irish SOE sector since the onset of the economic crisis in 2008, as well as its impact on the stated plans for the future of the SOE sector. It addresses the question of privatization and the conditionality for the sale of state assets contained in the bailout agreement signed between the Irish government and the IMF/ECB/European Commission (the “Troika”). It finds that Ireland has been afforded a degree of discretion with regard to the choice of assets to be sold and the application of proceeds. Revenue targets, however, have been dictated by the Troika. This contrasts with the agreements forged between the Troika and the governments of Greece and Portugal where there has been a far greater degree of conditionality attached to SOE divestments. Copyright Springer Science+Business Media New York 2013
Keywords: State-owned enterprises; Economic sovereignty; Economic crisis; Nationalization; Privatization; Ireland (search for similar items in EconPapers)
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:kap:porgrv:v:13:y:2013:i:2:p:117-130
Ordering information: This journal article can be ordered from
http://www.springer. ... ce/journal/11115/PS2
Access Statistics for this article
Public Organization Review is currently edited by Ali Farazmand
More articles in Public Organization Review from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().