State-Owned Enterprises in Bosnia and Herzegovina: Assessing Performance and Oversight

44 Pages Posted: 26 Nov 2019

See all articles by Francisco Parodi

Francisco Parodi

International Monetary Fund (IMF)

Bobana Cegar

International Monetary Fund (IMF)

Date Written: September 2019

Abstract

Based on a new database of State-Owned Enterprise (SOE) financial statements, we find that SOEs in Bosnia and Herzegovina are mostly in poor financial shape. We estimate the overall size and composition of the SOE sector, and identify individual companies that affect fiscal and macroeconomic performance. Financial analysis suggests that SOEs are not contributing enough to the economy. We also review the SOE governance framework and find that governments do not exercise their ownership function in line with WB/OECD guidelines.Reforms to the governance frameworks are necessary to foster transparency and improve accountability. More fundamental reform of the SOE sector might increase overall GDP by 3percent per year.

Keywords: Economic reforms, Social safety nets, Financial indicators, Financial statements, Fiscal policy, State-Owned Enterprises, Bosnia and Herzegovina, Financial Performance, SOEGovernance, WP, SOEs, SOE, BiH, arrears, financial oversight

JEL Classification: G38, H63, L33, E01, E62, Z13, E2, I3

Suggested Citation

Parodi, Francisco J. and Cegar, Bobana, State-Owned Enterprises in Bosnia and Herzegovina: Assessing Performance and Oversight (September 2019). IMF Working Paper No. 19/201. Available at SSRN: https://ssrn.com/abstract=3482284

Francisco J. Parodi

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Bobana Cegar (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

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