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A Synthesis

In: State Holding Companies and Public Enterprises in Transition

Author

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  • Anjali Kumar

    (World Bank)

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.

Suggested Citation

  • Anjali Kumar, 1993. "A Synthesis," Palgrave Macmillan Books, in: State Holding Companies and Public Enterprises in Transition, chapter 7, pages 227-249, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-23010-5_7
    DOI: 10.1007/978-1-349-23010-5_7
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