This report reviews the rationales offered by national governments for including or maintaining certain corporate assets in state ownership. Drawing from responses from 24 countries to a questionnaire based on the OECD Guidelines on Corporate Governance of State-Owned Enterprises (the “Guidelines”), the report aims to provide guidance to authorities seeking to reform or review their ownership policies. It does so, first, by providing provides an inventory of national practices regarding the application of the Guidelines recommendation that governments should develop and issue an ownership policy that defines the overall objectives of state ownership, the state’s role in the corporate governance of state-owned enterprises (SOEs), and how it will implement its ownership policy. Second, the report illustrates how the state enterprise ownership policy is applied in situations where new SOEs are created, or when the state decides to terminate its enterprise ownership. The report was reviewed by the OECD Working Party on State Ownership and Privatisation Practices, which oversees implementation of the Guidelines, and is current as of October 2014.
The objective of the Policy Framework for Investment (PFI) is to mobilise private investment that supports steady economic growth and sustainable development, contributing to the economic and social well-being of people around the world. Drawing on international good practices, the PFI proposes guidance in policy fields critically important for improving the quality of a country’s enabling environment for investment. It encourages policy makers to ask appropriate questions about their economy, their institutions and their policy settings to identify priorities, to develop an effective set of policies and to evaluate progress. First developed in 2006, the PFI was updated in 2015 to take into account feedback from numerous users at country and regional levels, as well as changes in the global economic landscape.
The Capital Movements Code provides a balanced framework for capital account openness. It is the only multilateral legal instrument with comprehensive coverage of capital movements. This includes inflows and outflows, long-term and short-term operations.
The OECD is working with the G20 encourage the flow of institutional investment towards longer-term assets, such as infrastructure and renewable energy projects, in order to strengthen the global economy and deliver more sustainable growth.
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The G20/OECD Principles of Corporate Governance provide recommendations on shareholder rights, executive remuneration, financial disclosure, the behaviour of institutional investors and how stock markets should function. Sound corporate governance is seen as an essential element for promoting capital-market based financing and unlocking investment, which are keys to boosting long-term economic growth.