ID | 153573 |
Title Proper | Politics of state-owned enterprise reform in South Korea, Laos, and Vietnam |
Language | ENG |
Author | Turner, Mark ; O'Donnell, Michael ; Kwon, Seung-Ho |
Summary / Abstract (Note) | THE REFORM OF STATE-OWNED ENTERPRISES (SOES) HAS BEEN A leading element of public sector reform since the 1980s. Starting with the radical actions of Margaret Thatcher’s government in the United Kingdom, privatization was disseminated across the world. By 2004, over $1 trillion of SOEs had been privatized. The privatization stampede represented the ascendancy of neoclassical economics and the view that governments should get out of business and leave the invisible hand of the market to either generate efficiency in often poorly performing enterprises or simply close them down (World Bank 1995, 1996, 1997). This neoliberal policy orientation dovetailed with the Washington Consensus and the spread of New Public Management, both of which sought leaner, more fiscally disciplined government that focused on core functions (Turner, Hulme, and McCourt 2015). |
`In' analytical Note | Asian Perspectives Vol. 41, No.2; Apr-Jun 2017: p.181-184 |
Journal Source | Asian Perspectives Vol: 41 No 2 |
Key Words | Political Economy ; Laos ; South Korea ; Vietnam ; Privatization ; Neoliberal Policy ; Public - Private Partnerships ; New Public Management |