Download or read book State Owned Enterprises in the Middle East and North Africa written by Merih Celasun and published by Routledge. This book was released on 2013-01-11 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the rapid world-wide spread of privatization, progress in the Middle East and North Africa region has been markedly slow. This volume argues that a high level of overstaffing in public enterprises and the inability of economies to create jobs fast enough is mainly responsible for this. An in-depth study of the facts and a well-supported conclusion makes this an impressive collection of work on a very pertinent subject.
Download or read book Privatization and Financial Performance written by David Dawley and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the impact of privatization on value creation in State Owned Enterprises (SOEs) in the Middle East and North Africa (MENA) region. A multi-case study approach, using quantitative and qualitative data, is used to rectify the findings of prior SOE privatization research by taking a finer-grained analysis into the conditions that determine post-privatization performance. This study addresses the research question, "What is the effect of privatization in terms of value creation for State Owned Enterprises in the Middle East and North Africa (MENA) region?" Value creation is measured in terms of profitability, operating efficiency, capital expenditures, and leverage. Using quantitative performance metrics to assess value creation, we also use qualitative data to show that post-privatization value creation depends on specific strategic initiatives as well as government policy toward competition. Our overall conclusion is that privatizing SOEs can be beneficial in the MENA region but must coincide with strong government reform policies, and certain financial and managerial strategies.
Download or read book Privatization and Control of State owned Enterprises written by Ravi Ramamurti and published by World Bank Publications. This book was released on 1991-01-01 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economic and Social Impact of Privatisation of State owned Enterprises in Africa written by I. Obadan and published by African Books Collective. This book was released on 2008-03-15 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: The case for privatization, whether defined in a broad or narrow sense, has been forcefully made by its advocates against the backdrop of the much advertised poor performances of state-owned enterprises (SOEs) and theoretical arguments relating to the efficiency of private firms over public enterprises. Consequently, privatization and commercialization have been key components of the structural adjustment programmes foisted by the Bretton Woods institutions on Third World countries. Yet, the empirical findings on privatization, especially outside Africa where they exist, do not portray the strategy to be a panacea that works in all circumstances in all branches of economic activity. In spite of this, since the late 1980s, privatization has been stepped up in almost all African countries. And after about two decades of vigorous implementation of privatization programmes in Africa, there is a compelling need for a comprehensive and systematic analysis of various privatization issues, particularly the economic and social impact. This book thus establishes a clear case for a comprehensive and systematic analysis of the impact of privatization in Africa. Specifically, the book provides a state-of-the art review of privatization issues and research questions as a prelude to an in-depth study of the economic and social impact of privatization. In the light of the rich insights brought to bear on the issues, this book should stimulate the interest of researchers, donors and policy makers to undertake or support the follow-up in-depth research envisaged.
Download or read book State Owned Enterprises in Middle East North Africa and Central Asia Size Costs and Challenges written by Mr. Ernesto Ramirez Rigo and published by International Monetary Fund. This book was released on 2021-09-20 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior to the COVID-19 shock, the key challenge facing policymakers in the Middle East, North Africa, and Central Asia region was how to generate strong, sustainable, job-rich, inclusive growth. Post-COVID-19, this challenge has only grown given the additional reduction in fiscal space due to the crisis and the increased need to support the recovery. The sizable state-owned enterprise (SOE) footprint in the region, together with its cost to the government, call for revisiting the SOE sector to help open fiscal space and look for growth opportunities.
Download or read book Infrastructure Privatisation written by Jamal Ibrahim Haidar and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This case study investigates the potential impact of privatisation on the financial performance of infrastructure State Owned Enterprises (SOEs) in the Middle East and North Africa (MENA) region. It considers initiatives taken in Tunisia, Morocco, Saudi Arabia, and Jordan between 1988 and 2003. The financial performance is assessed in terms of profitability, operating efficiency, capital expenditures, leverage and financial risk levels, cost of labour and share prices. The results show that post-privatisation financial results depend on the pre-privatisation status of the SOEs, as well as on various reforms considered in its economic environment. Sales, labour efficiency, and labour costs improved post-privatisation. Moreover, profitability levels increased in only 40% of the considered sample. Percentage changes in the share price surpassed the percentage changes in the market indices in some countries, but not in every country. Capital expenditure levels were stable compared to pre-privatisation levels. Additionally, debt and credit risk levels decreased post-privatisation. Finally, the study reports that managerial restructuring has the potential to generate the same (and even better in some areas) results as privatisation, but this do not mean that state ownership is optimal in the long run. The overall conclusion is that privatising infrastructure SOEs is optimal in the MENA region but should be preceded by managerial and financial reforms in order for it to lead to optimal economic results and to allow for financial performance improvements to appear.
Download or read book Partners for Development written by Samiha Fawzy and published by World Bank Publications. This book was released on 1999-01-01 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: ¿¿the world is changing and so should the region. After decades of state domination of economic activity, many governments around the world are relying increasingly on the private sector to foster economic growth.¿ There is a growing consensus that the time has come for governments and private sector leaders of the Middle East and North Africa to forge a new partnership for development. However, the question is: what kind of partnership should the two parties seek in order to ensure sustainable economic development? This volume attempts to address this question. To make the investigation tractable, the papers deal with four key facets of the government-private sector interface: the business environment, privatization, infrastructure, and two activities that induce transaction costs, tax administration and government procurement. The volume derives its content from papers on the theme of public-private partnerships discussed at the second Mediterranean Development Forum (MDF2) held in Marrackech, Morocco on September 3-6, 1998. The papers presented here are intended to contribute to the ongoing debate on the development opportunities and challenges facing the countries in the Middle East and North Africa.
Download or read book Privatization written by Sunita Kikeri and published by World Bank Publications. This book was released on 2005 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper takes stock of recent privatization trends, examines the extent to which government ownership is still prevalent in developing countries, and summarizes emerging issues for state enterprise reform going forward. Between 1990 and 2003, 120 developing countries carried out nearly 8,000 privatization transactions and raised $410 billion in privatization revenues. Privatization activity peaked in 1997 and dropped off in the late 1990s and, while still at overall low levels, is slowly creeping back. While there are a large number of studies assessing the impact of privatization on enterprise performance and overall welfare, there are no systematic data on the extent to which privatization has changed the role of state enterprises in the economy. Anecdotal evidence suggests that the state's role has been substantially reduced in Eastern and Central Europe and in certain countries in Latin America. But available evidence also suggests that, despite a long track record of privatization, government ownership in state enterprises is still widely prevalent in some regions and countries, and in certain sectors in virtually all regions. The paper shows that the costs of not reforming state enterprises are high and that continued efforts need to be made to improve their performance by improving privatization policies and institutions; adopting more of a case-by-case approach for complex sectors and countries; and exposing state enterprises to market discipline through new private entry and exit of unviable firms and improvements in their corporate governance. "--World Bank web site.
Download or read book Subsidy Reform in the Middle East and North Africa written by Mr.Carlo A Sdralevich and published by International Monetary Fund. This book was released on 2014-07-09 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the Middle East and North Africa (MENA) countries price subsidies are common, especially on food and fuels. However, these are neither well targeted nor cost effective as a social protection tool, often benefiting mainly the better off instead of the poor and vulnerable. This paper explores the challenges of replacing generalized price subsidies with more equitable social safety net instruments, including the short-term inflationary effects, and describes the features of successful subsidy reforms.
Download or read book Reforms Opportunities and Challenges for State Owned Enterprises written by Edimon Ginting and published by Asian Development Bank. This book was released on 2020-07-01 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: State-owned enterprises (SOEs) play significant roles in developing economies in Asia and SOE performance remains crucial for economy-wide productivity and growth. This book looks at SOEs in Azerbaijan, Indonesia, Kazakhstan, the People's Republic of China, and Viet Nam, which together present a panoramic view of SOEs in the region. It also presents insights from the Republic of Korea on the evolving role of the public sector in various stages of development. It explores corporate governance challenges and how governments could reform SOEs to make them efficient drivers of the long-term productivity-induced growth essential to Asia's transition to high-income status.
Download or read book State Owned Enterprises in the Middle East and North Africa Engines of Development and Competitiveness written by OECD and published by OECD Publishing. This book was released on 2013-10-21 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication examines the contribution of MENA SOEs to industiral development, diversification, poverty elimination and the provision of goods and services to the public, and provides an overview of the diverse mandates and roles of MENA SOEs.
Download or read book Challenges of Growth and Globalization in the Middle East and North Africa written by Mr.Hamid R Davoodi and published by International Monetary Fund. This book was released on 2003-09-05 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Middle East and North Africa (MENA) is an economically diverse region. Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region’s economic performance in the past 30 years has been below potential. This paper takes stock of the region’s relatively weak performance, explores the reasons for this out come, and proposes an agenda for urgent reforms.
Download or read book Reforming Infrastructure written by Ioannis Nicolaos Kessides and published by World Bank Publications. This book was released on 2004 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity, natural gas, telecommunications, railways, and water supply, are often vertically and horizontally integrated state monopolies. This results in weak services, especially in developing and transition economies, and for poor people. Common problems include low productivity, high costs, bad quality, insufficient revenue, and investment shortfalls. Many countries over the past two decades have restructured, privatized and regulated their infrastructure. This report identifies the challenges involved in this massive policy redirection. It also assesses the outcomes of these changes, as well as their distributional consequences for poor households and other disadvantaged groups. It recommends directions for future reforms and research to improve infrastructure performance, identifying pricing policies that strike a balance between economic efficiency and social equity, suggesting rules governing access to bottleneck infrastructure facilities, and proposing ways to increase poor people's access to these crucial services.
Download or read book Private Sector Development in the Middle East and North Africa Supporting Investment Policy and Governance Reforms in Iraq written by OECD and published by OECD Publishing. This book was released on 2010-07-06 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication reviews measures taken to support investment policy and governance reforms in Iraq.
Download or read book Management Practices and the Partial Government Ownership of Firms in the Middle East and North Africa written by Asif M. Islam and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Better management practices and a disentanglement from government ownership could yield better results for businesses in the Middle East and North Africa, data from the Enterprise Surveys show. Well-managed firms are more productive, have higher operating profits, are more outward oriented and invest more in research and development. But company ownership also plays a role. Evidence from the Enterprise Surveys points to a negative relationship between partial government ownership and management practices in the Middle East and North Africa, where there is a high ratio of state-owned firms and where political connections play an important role in business management. To improve managerial practices, firms in the region must first disentangle themselves from government ownership. Management training and consultancy hold promise, but as long as governments distort incentives in the region, these cannot be fully effective. The Enterprise Surveys, conducted by the EIB, EBRD and the World Bank, provide insight into what lies beneath the region's relatively slow growth, with a focus on the reasons for stagnating productivity and inadequate accumulation of human and physical capital in the private sector. This is the seventh of nine working papers supporting the full report: Unlocking sustainable growth in the Middle East and North Africa private sector.
Download or read book Privatization in Latin America written by Alberto Chong and published by World Bank Publications. This book was released on 2005-03-15 with total page 526 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privatization is under attack. Beginning in the 1980s, thousands of failing state-owned enterprises worldwide have been turned over to the private sector. But public opinion has turned against privatization. A large political backlash has been brewing for some time, infused by accusations of corruption, abuse of market power, and neglect of the poor. What is the real record of privatization and are the criticisms justified? 'Privatization in Latin America' evaluates the empirical evidence on privatization in a region that has witnessed an extensive decline in the state's share of production over the past 20 years. The book is a compilation of recent studies that provide a comprehensive analysis of the record of and accusations against privatization, with important recommendations for the future. Seven countries are investigated: Argentina, Bolivia, Brazil, Chile, Colombia, Mexico, and Peru. This book will be vital to anyone interested in the privatization debate but especially to those involved in civil service reform, corporate governance, economic policy, finance, and anticorruption efforts. 'Privatization is important but controversial. While economists typically favor it, others are skeptical. This book provides strong scientific evidence that privatization has been beneficial for many Latin American countries, although some privatizations failed and some groups in society lost out. As usual, the devil is in the details: how privatization is carried out and what reforms accompany it are crucial to its success. The book is definitely an invaluable contribution to the privatization debate.' --Oliver Hart, Andrew E. Furer Professor of Economics, Harvard University
Download or read book Privatization written by John R. Nellis and published by World Bank Publications. This book was released on 1992-01-01 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Governance, as defined by the World Bank in its 1992 report, Governance and Development, is the manner in which power is exercised in the management of a country's economic and social resources for development. The report deemed it is within the Bank's mandate to focus on the following: -the process by which authority is exercised in the management of a country's economic and social resources -the capacity of governments to design, formulate, and implement policies and discharge functions. Also available: Governance: The World Bank's Experience (ISBN 0-8213-2804-2) Stock No. 12804.
