Alternatives to Infrastructure Privatization Revisited : Public Enterprise Reform from the 1960s to the 1980s

Gó ; mez-Ibá ; ñ ; ez, José ; A.

World Bank, Washington, DC

关键词: ACCOUNTING;    ACCOUNTING STANDARDS;    AFFORDABLE PRICES;    ARREARS;    BAILOUTS;   

DOI  :  10.1596/1813-9450-4391
RP-ID  :  WPS4391

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Frustration with the performance ofState-owned enterprises (SOEs) has led to two rounds ofreform: the first round, from the 1960s through the 1980s,attempted to improve SOE performance while maintainingpublic ownership while the second, beginning in the late1980s, viewed privatization as the answer.Interest in theearlier round of reform has increased recently ascontroversy has slowed or halted privatization in manycountries, especially for SOEs providing infrastructureservices that are basic to everyday life and are thought tohave elements of monopoly.This paper reexamines theearlier round of reforms, focusing particularly on effortsto increase the firms' capacity with infusions of humanand physical capital, to strengthen managerial incentivesthrough performance contracts and corporatization and toalter the mix of political and economic forces that impingeon the firm by strengthening the involvement of taxpayers,customers or private investors.The review suggests thatthese earlier approaches generated only modest success butthat some of them, selectively applied, may be helpful inimproving the performance of infrastructure firms thatremain in public hands.