Improving public enterprise performance : lessons from South Korea
Shirley, Mary M.
In 1983 Korea dramatically changed the way it managed the largest and most important group of its public enterprises, or GIEs. The reforms increased enterprise autonomy, changed managerial selection procedures, and began systematically to evaluate performance and provide incentives on the basis of the evaluation. This paper assesses the results of these reforms and suggests ways the Korean performance evaluation system might be adapted to cicumstances in other countries. A central feature of the Korean reforms is the performance evaluation system, which sets clear targets for management and provides bonuses on the basis of outcomes. The system has four essential prerequisites for success : 1) parallel reforms to increase managerial autonomy and skills, 2) reliable and timely information, 3) adequate skills to supervise and evaluate, and 4) political will. This paper suggests ways to build up and compensate for the first three requirement; there is no substitute for the fourth.
Banks&Banking Reform,Economic Theory&Research,Environmental Economics&Policies,Small Scale Enterprise,Private Participation in Infrastructure
In order to set up a list of libraries that you have access to,
you must first login
or sign up.
Then set up a personal list of libraries from your profile page by
clicking on your user name at the top right of any screen.