Simple privatization was once seen as a catch-all solution to the problems of state-owned enterprises. Today, broader solutions are needed that change the systems in which these companies operate.
David supports and coordinates ADB’s work with state owned enterprises (SOEs). David began his professional career in 2001 at the OECD and has worked on corporate governance and state-owned enterprise policy in countries around the world, including several in Asia. He has authored or coauthored a number of publications, including Held by the Visible Hand: The Challenge of State Owned Enterprise Corporate Governance for Emerging Markets. Before joining the ADB, David worked at the World Bank and IFC, and has taught economics and finance. David has an undergraduate degree from Georgetown and a PhD from The George Washington University.
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Commercial financing of government-owned or controlled companies is crucial for their success but major reforms are needed before private investors will step in.
State-owned enterprises supply energy, transport, and water to millions in Asia and the world. Managing them better will help consumers and governments alike.