Competitive neutrality implies that no business entity is advantaged (or disadvantaged) solely because of its ownership. The Paper argues that far from all SOEs have the opportunity or the incentives to act in an anti-competitive way, and a trend in recent decades toward more fully corporatised...

Historically, the main direct contribution of exchanges to corporate governance has been listing and disclosure standards and monitoring compliance. Stock exchanges have established themselves as promoters of corporate governance recommendations for listed companies. Demutualisation and the...

This paper examines several key issues concerning the implications for monetary policy of the achievement of low inflation in OECD countries during the 1990s. In particular, the analysis considers whether there have been improvements in monetary policy transmission mechanisms that lower...

This paper addresses the issue of whether covariation of long-term interest rates across G10 countries has increased in recent years and whether, as a consequence, interest rates have become less subject to the influence of national monetary authorities and domestic fundamentals. A conceptual...

This paper summarises key points of the recent extensive discussion of the factors behind the volatility of cross-border capital flows in emerging market countries and possible corrective measures. The root cause of the recent volatility of capital flows seems to have been excessive credit and...

The general benefits of attracting foreign direct investment (FDI), and the potential of FDI as a tool for regional economic development in particular, are commonly recognised by policy makers and analysts. A recent study prepared under the auspices of the OECD Committee on International...

The present paper was prepared in the context of a joint project between the OECD Investment Committee (IC) and Development Assistance Committee (DAC) on Official Development Assistance and Investment for Development. It responds to discussions at the IC-DAC Workshop on Synergies between ODA and...

This working paper summarises the main findings of a data collection exercise documenting the size of the national state-owned enterprise (SOE) sectors in OECD countries (in terms of number, employment and economic value of enterprises), and provides a breakdown by main sectors and types of...

State-owned and other state-invested enterprises (SIEs) have become more prominent in the global economy over the last decade. A growing role for state-invested enterprises in the marketplace is not in itself onerous. According to an OECD consensus, as expressed through the Organisation’s...

The overarching question for the government owners of state-owned enterprises (SOEs) is why these companies need to be owned by the state. The OECD Guidelines on Corporate Governance of State-Owned Enterprises provides a “blueprint” for the corporatisation and commercialisation of such...