Andrea Goldstein | United Nations (original) (raw)

Papers by Andrea Goldstein

Institutions, Outcomes, and Outstanding Issues, Jan 1, 2003

Since 1960, only one new country, Brazil, has succeeded in delivering more than one civil jet per... more Since 1960, only one new country, Brazil, has succeeded in delivering more than one civil jet per month. Otherwise, all the countries now offering world-class planes were established in aviation by the end of World War I. This being said, low-cost producers within several of the newly emerging markets have already acquired front-end manufacturing expertise as a direct result of industrial offset contracts and/or other forms of technology transfer. In all such cases, government intervention, notably through state ownership, has been predominant, but failures have been numerous in view of the difficulty of aligning ownership structure to financial, managerial, and technological requirements and of garnering the support of domestic interest groups.

• Regional integration in sub-Saharan Africa is becoming a vehicle for enhancing private investme... more • Regional integration in sub-Saharan Africa is becoming a vehicle for enhancing private investment through confidence building. Setting clear and easy-to-track priorities is key to achieving these policy goals.• Regional policy harmonisation or joint infrastructure ...

Journal of Contemporary Asia, Jan 1, 2008

Industrial and Corporate Change, Jan 1, 1999

This paper describes the history, size and scope of the public enterprise sector in Brazil, using... more This paper describes the history, size and scope of the public enterprise sector in Brazil, using a variety of indicators and drawing from different interpretative sources. It shows that at least until the 1970s, state-owned enterprises contributed to the industrialization process and to fiscal results. The paper sets out the political and institutional framework in which privatizations are implemented, compares its main features with those prevailing in some other countries, and provides an updated account of state sell-offs. The consequences of privatization in terms of corporate governance are analyzed. In Brazil, the private sector has been negatively affected by the post-1991 opening of the economy, which has also coincided with generational transition in most family-owned groups. Domestic financial institutions have partly filled the void left after the state retrenchment, but the parallel strengthening of market mechanisms in the allocation of financial resources has trailed behind, posing major policy issues. owns 22 per cent of total shares in Telebrás (50.04% of common shares and 3.5% of preferred shares) and 54% in Eletrobrás. Six subsidiaries of Telebrás are listed (the holding company owns 77% of Telesp's total shares and 82% of Telerj's). CRT is owned by the state of Rio Grande do Sul and three very small companies are private. 40 Light was split up into two different companies in 1995: LightRio was then sold off in 1996, whereas LightPar now holds the original utility's stake in Eletropaulo and the latter's $1.24 b. debt towards Light.

Paris: Organization for …, Jan 1, 2006

Financial Times, Jan 1, 1995

Industrial and Corporate …, Jan 1, 2006

Under the apartheid regime, South African business was marked by a high degree of concentration, ... more Under the apartheid regime, South African business was marked by a high degree of concentration, both in terms of ownership and activities; indeed, it could be argued that this concentration was both created by and reinforced the exclusions linked to apartheid. In this paper, we identify the main changes that have characterized South Africa's big business since democracy in 1994-unbundling of traditional conglomerates, transfer of primary listing to overseas stock exchanges, and slow emergence of black-owned economic groups. These changes are related to key policy actions taken by government, including liberalization, black economic empowerment (BEE) policies, and competition policies.

Cambridge Journal of Economics, Jan 1, 2002

This paper explores the dynamics of high-tech industrialisation in three emerging countries with ... more This paper explores the dynamics of high-tech industrialisation in three emerging countries with sub-regional power ambitions in the peculiar case of aerospace. The focus of the analysis is on the interaction between economic and political factors, at both the domestic and the international levels. The three (initially) state-owned firms show diverging fortunes that reflect differences in the ability to align the ownership structure to the financial requirements of technological upgrading, to adopt modern management practices, to participate actively in the internationalisation of global supply chains, and to garner the support of domestic interest groups.

This paper describes the privatization program in Italy during the 1990s and puts that policy in ... more This paper describes the privatization program in Italy during the 1990s and puts that policy in the context of macroeconomic adjustment, general market deregulation, and promotion of private investment in the provision of public infrastructure. The wave of state divestitures reached Italy later than other OECD countries. A deep-rooted tradition of state intervention, coupled with the use of public enterprises as a source of employment and political support, hindered the timid attempts at privatization of the 1980s, delaying until 1992 the start of largescale privatizations. These were imposed on Italian politicians and electorate by a host of factors: the financial crisis affecting both the general government and, sometimes irreversibly, state-owned enterprises (SOEs); the increasing aversion of the European Commission towards state aid to ailing firms; and the discredit thrown on public enterprises by their involvement in corruption scandals. An evaluation of its results in manufacturing, performed on the basis of a set of operative and restructuring performance indicators for a representative sample of privatized firms, indicates the lack of statistically significant improvements in efficiency scores. The analysis of the consequences of privatization on corporate governance show that, notwithstanding considerable changes in the structure of ownership and a sizeable contribution to capitalization and liquidity growth, the market for corporate control remains insufficiently transparent. These results appear to relect multiple factors -the preference accorded to quantitative targets in the context of EMU convergence, the weakness of the executive and its dependence on shaky parliamentary majorities in the Italian political system, and finally the resistance of politicians to relinquish control over SOEs. In the broader framework of fiscal decentralization, this last factor seems if anything reinforced by recent normative changes and proposals.

The World Economy, Jan 1, 2004

Journal of Industry, Competition and …, Jan 1, 2001

Industrial Development for the 21st Century …, Jan 1, 2007

Comments on this paper would be welcome and should be sent to the OECD Development Centre, 2, rue... more Comments on this paper would be welcome and should be sent to the OECD Development Centre, 2, rue André Pascal, 75775 PARIS CEDEX 16, France; or to dev.contact@oecd.org. Documents may be downloaded from: http://www.oecd.org/dev/wp or obtained via Cette série de documents de travail a pour but de diffuser rapidement auprès des spécialistes dans les domaines concernés les résultats des travaux de recherche du Centre de développement. Ces documents ne sont disponibles que dans leur langue originale, anglais ou français ; un résumé du document est rédigé dans l'autre langue.

Journal of World Business, Jan 1, 2007

The emergence of a "second wave" of developing-country multinational enterprises (MNEs) in a vari... more The emergence of a "second wave" of developing-country multinational enterprises (MNEs) in a variety of industries is one of the characterizing features of globalization. These new MNEs did not delay their internationalisation until they were large, as did most of their predecessors, and often become global as a result of direct firm-to-firm contracting. Many grow large as they internationalise; conversely, they internationalise in order to grow large. This is a striking pattern which, if confirmed, indicates that enterprises from developing countries have pursued distinctive approaches to internationalisation. It is a further interesting hypothesis to investigate to what extent such firms, born as suppliers of established incumbents, have leveraged on their "latecomer" status to accelerate their internationalisation. This paper documents how emerging MNEs may follow quite different patterns to reach, or at least approach, global competitiveness. In particular, it investigates how three latecomer MNEs pursued global growth through accelerated internationalisation combined with strategic and organizational innovation. Haier (China), Mabe (Mexico) and Arçelik (Turkey) emerged as Dragon Multinationals in the large home appliances (so-called "white goods") industry. This is a producer-driven global value chain, characterized by mature technology and rapid delocalization to developing countries, where not only input costs are lower, but demand growth rates are highergiving a decided latecomer advantage to these MNEs.

The OECD is a unique forum where the governments of 30 democracies work together to address the e... more The OECD is a unique forum where the governments of 30 democracies work together to address the economic, social and environmental challenges of globalisation. The OECD is also at the forefront of efforts to understand and to help governments respond to new developments and concerns, such as corporate governance, the information economy and the challenges of an ageing population. The Organisation provides a setting where governments can compare policy experiences, seek answers to common problems, identify good practice and work to co-ordinate domestic and international policies.