PRZEDSIĘBIORSTWA PAŃSTWOWE WE WSPÓŁCZESNEJ GOSPODARCE... – CELE I UWARUNKOWANIA EFEKTYWNOŚCI DZIAŁANIA
STATE-OWNED ENTERPRISES IN THE MODERN ECONOMY: THE OBJECTIVES
AND DETERMINANTS OF EFFICIENCY
Author(s): Katarzyna SzarzecSubject(s): National Economy, Business Economy / Management, Economic policy, Public Finances, Fiscal Politics / Budgeting
Published by: Instytut Nauk Ekonomicznych Polskiej Akademii Nauk
Keywords: efficiency; state-owned enterprises; ownership policy; state institutions; rent-seeking;
Summary/Abstract: This article aims to identify the conditions under which state-owned enterprises can be beneficial to a modern capitalist economy. These enterprises face two major issues: multiple financial and non-financial objectives and their assessment; and rent-seeking by politicians. The analysis is based on a critical review of the contemporary literature and on empirical research into state ownership. The fundamental preconditions for efficiency and innovation of state-owned enterprises, and their positive impact on economic growth, are high quality state institutions and good ownership policy. Absent that and rent-seeking by politicians will inevitably lead to a decline in efficiency.
Journal: Ekonomista
- Issue Year: 2023
- Issue No: 3
- Page Range: 295-314
- Page Count: 20
- Language: Polish