Table of contents for Bureaucrats in business : the economics and politics of government ownership.


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Foreword xi
The Report Team xiii
Acknowledgements xv
Definitions xvii
Introduction and Overview 1
What Makes for Success in State Enterprise Reform? 4
Contracting: What Workds, What Doesn't, and Why 6
The Politics of Reforming State-Owned Enterprises 10
What Can Be Done to Spur Reforms and Improve Outcomes 14
1. Bureaucrats Are Still in Business 25
State-Owned Enterprise Sector Remains Large Despite
Increasing Divestiture 25
How SOEs Affect Economic Performance 33
Conclusion 50
Notes 51
2. Success and Failure in SOE Reform 55
Measuring Success and Failure 57
What Reform Characteristics Distinguish Successful Reformers? 66
Divestitute and SOE Reform 67
Outgrowing Stated-Owned Enterprises: An Alternative to Divestiture? 71
Divestitute Alone Is Seldom Enough 75
Improving SOE Performance through Competition 76
Hard Budgets 81
Financial Sector Reform 86
Changing the Relationship between Governments and SOE Managers 93
Conclusion 95
Appendix 2.1: Reforms to Open SOE Markets to Competition and Introduce Hard Budget Constraints 97
Appendix 2.2: Financial Sector Reform 101
Notes 103
3. Contracting: What Works, What Doesn't, and Why107
How Incentive Factors Interact to Influence Outcomes 109
Performance Contracts: With Public Managers 112
Management Contracts: With Private Managers 133
Regulatory Contracts: With Private Owners 150
Conclusion 168
Notes 171
4. The Politics of SOE Reform 175
Assessing Condition I: Political Desirability 178
Assessing Condition II: The Political Feasibility of SOE Reform 190
Assessing Condition III: The Credibility of State-Owned Enterprise Reform 203
Explaining and Predicting Reform Success 215
Conclusion 217
Appendix 4.1: The Politics of State-Owned Enterprise Reform: Additional Evidence 218
Notes 227
5. How to Spur Reforms and Improve Outcomes 231
How to Tell Whether a Country Is Ready to Reform 233
What to Do in Countries Not Ready for SOE Reform 237
What to Do in Countries Ready for SOE Reform 241
What to Do with SOEs That Cannot Be Divested 250
Conclusion 257
Notes 257
Implications for Foreign Assistance 259
Statistical Appendix 263
References 325
Index 341



Library of Congress subject headings for this publication:
Government ownership -- Developing countries.
Government business enterprises -- Developing countries.
Industrial efficiency -- Developing countries.
Socialism -- Developing countries.
Developing countries -- Economic conditions.