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Accountability and Transparency: A Guide for State Ownership

image of Accountability and Transparency: A Guide for State Ownership

Using this Guide will facilitate the practical implementation of the OECD Guidelines on Corporate Governance of State-Owned Enterprises in the areas of transparency and accountability. It provides viable policy options and a step-by-step road map on how to address typical difficulties, risks and hurdles that may be encountered. It also provides concrete examples of good practices that can serve as a reference and inspiration. The Guide will help governments, their ownership entities and other stakeholders to evaluate existing practices and support reforms.

In most countries, improving transparency and accountability in state-owned enterprises entails a number of complex challenges. Addressing these, with the help of this Guide, is an important step in the process of establishing well-governed and economically sound state-owned enterprises

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Note to the Reader

Governments face complex challenges in improving the governance of state-owned enterprises. Having worked for the Swedish government handling state ownership for more than 15 years, I have firsthand experience as a practitioner on how the governments struggle to improve the governance of SOEs. One of the main challenges in doing so is to put in place appropriate accountability and transparency processes. It is only with such systems that the state as an owner will be able to act as an informed owner, without interfering in day-to-day management, two essential recommendations of the OECD Guidelines. The Swedish government, having been an advocate of reforms, has been able to appreciate how useful it is to put lights on the performance of SOEs and on how the state exercises its ownership function. Greater transparency is usually very effective in triggering further support for reforms.

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