Governance and state-owned enterprises: how costly is corruption?

Anja Baum (), Clay Hacknay (), Paulo Medas () and Mouhamadou Sy ()
Additional contact information
Anja Baum: International Monetary Fund
Clay Hacknay: Harvard Law School
Paulo Medas: International Monetary Fund
Mouhamadou Sy: International Monetary Fund

Economics of Governance, 2024, vol. 25, issue 2, No 2, 208 pages

Abstract: Abstract State-owned enterprises (SOEs) are present in key sectors of economies around the world. While they can provide an important public service, there is widespread concern that their activities and financial performance are hindered by corruption. In the meantime, cross-country analysis on the cost of corruption for SOEs remains scarce. We present new cross-country evidence on how corruption affects SOE performance using firm level data. We find that SOEs perform as well as private firms in core sectors when corruption is low but are significantly less efficient when corruption is high. We also show that, in turn, improvements in fiscal transparency and specific SOE governance reforms have the potential to improve SOE performance.

Keywords: State-owned enterprises; Firm performance; Corruption; Governance reforms (search for similar items in EconPapers)
JEL-codes: D20 D73 H00 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s10101-024-00311-1

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