Publication:
Infrastructure State-Owned Enterprises: A Tale of Inefficiency and Fiscal Dependence

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dc.contributor.authorMusacchio, Aldo
dc.contributor.authorHerrera Dappe, Matias
dc.contributor.authorPan, Carolina
dc.contributor.authorSemikolenova, Yadviga Viktorivna
dc.contributor.authorTurkgulu, Burak
dc.contributor.authorBarboza, Jonathan
dc.date.accessioned2022-03-17T17:50:12Z
dc.date.available2022-03-17T17:50:12Z
dc.date.issued2022-03-15
dc.description.abstractThis paper examines the performance of infrastructure companies owned by the state, using the newly created World Bank Database of Infrastructure State-Owned Enterprises (SOEs). The data cover 19 countries and 135 SOEs between 2000 and 2018. The analysis reveals that infrastructure SOEs are large and have weak financial performance that generates significant fiscal risk. The paper introduces new measures of financial performance net of fiscal transfers and examines previously uncovered patterns of subsidies by sector. It examines the effect of state ownership by comparing the firms in the database with hundreds of comparable private firms, using coarsened exact matching. The findings show that relative to comparable private firms, infrastructure SOEs are less efficient, represent a larger share of gross domestic product, have larger liabilities as a share of gross domestic product and larger employment costs as a share of revenues, and yield lower returns on assets.en
dc.identifierhttp://documents.worldbank.org/curated/en/488131647357423308/Infrastructure-State-Owned-Enterprises-A-Tale-of-Inefficiency-and-Fiscal-Dependence
dc.identifier.doi10.1596/1813-9450-9969
dc.identifier.urihttps://hdl.handle.net/10986/37157
dc.languageEnglish
dc.publisherWashington, DC: World Bank
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectINFRASTRUCTURAL INVESTMENT
dc.subjectPUBLIC INFRASTRUCTURE
dc.subjectINFRASTRUCTURE STATE OWNED ENTERPRISES
dc.subjectSOE
dc.subjectCROSS-COUNTRY COMPARISON
dc.titleInfrastructure State-Owned Enterprisesen
dc.title.subtitleA Tale of Inefficiency and Fiscal Dependenceen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.date.disclosure2022-03-15
okr.date.lastmodified2022-03-15T00:00:00Zen
okr.doctypePolicy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/488131647357423308/Infrastructure-State-Owned-Enterprises-A-Tale-of-Inefficiency-and-Fiscal-Dependence
okr.guid488131647357423308
okr.identifier.doi10.1596/1813-9450-9969
okr.identifier.externaldocumentum090224b088d2d551_2_0
okr.identifier.internaldocumentum33758718
okr.identifier.reportWPS9969
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/488131647357423308/pdf/Infrastructure-State-Owned-Enterprises-A-Tale-of-Inefficiency-and-Fiscal-Dependence.pdfen
okr.topicInfrastructure Economics and Finance::Infrastructure Economics
okr.topicInfrastructure Economics and Finance::Infrastructure Finance
okr.topicInfrastructure Economics and Finance::Infrastructure Regulation
okr.topicInfrastructure Economics and Finance::Private Participation in Infrastructure
okr.topicLaw and Development::Infrastructure and Law
okr.unitITRGK - Global Knowledge (ITRGK)
relation.isAuthorOfPublicatione263ad32-282e-5617-9d86-9c19af771906
relation.isAuthorOfPublication.latestForDiscoverye263ad32-282e-5617-9d86-9c19af771906
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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