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Economics of State-Owned Enterprises

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  • Tālis J. Putniņš

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

  • Tālis J. Putniņš, 2015. "Economics of State-Owned Enterprises," International Journal of Public Administration, Taylor & Francis Journals, vol. 38(11), pages 815-832, September.
    • Handle: RePEc:taf:lpadxx:v:38:y:2015:i:11:p:815-832
    DOI: 10.1080/01900692.2014.982289
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    Cited by:

    1. Emmanuel Kopang Botlhale, 2020. "Corporate governance in state-owned enterprises in Lesotho," Social Responsibility Journal, Emerald Group Publishing Limited, vol. 17(3), pages 429-443, April.
    2. Dian Anita Nuswantara & Warih Puspo Andjani, 2021. "Do distressed firms manage earnings?," Jurnal Siasat Bisnis, Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia, vol. 25(2), pages 111-118.
    3. Asatryan, Zareh & Heinemann, Friedrich & Nover, Justus, 2022. "The other government: State-owned enterprises in Germany and their implications for the core public sector," ZEW Expert Briefs 22-08, ZEW - Leibniz Centre for European Economic Research.
    4. Wang, Xun & Yu, Jingwen, 2023. "COVID-19 pandemic and corporate liquidity: The role of SOEs’ trade credit response," Journal of International Money and Finance, Elsevier, vol. 137(C).
    5. Jang Ping Thia & Xinyu Kong & Jiaqi Su, 2023. "How Large is the Borrowing Cost Advantage of State-Owned Enterprises?," Review of Development Finance Journal, Chartered Institute of Development Finance, vol. 13(1), pages 92-103.
    6. Adeyemi Adebayo & Barry Ackers, 2023. "Theorising hybridity in state-owned enterprises (SOEs)," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 27(4), pages 1249-1275, December.

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