The Future of State-Owned Financial Institutions

Contents

 Contents Preface ix 1 Introduction 1 Gerard Caprio, Jonathan L. Fiechter, Robert E. Litan, and Michael Pomerleano   Overview of State Ownership in the Financial Sector 2 The Transformation of State-Owned Banks 13 James A. Hanson 3 Observations from an International Monetary Fund Survey 51 David Marston and Aditya Narain 00-1335-5-FM 12/9/04 4:47 PM Page v   Fiscal Implications 4 Fiscal Transparency and State-Owned Banks 75 Manal Fouad, Richard Hemming, Davide Lombardo, and Wojciech Maliszewski 5 State-Owned Banks in China 93 Nicholas R. Lardy   Country Analysis: Indonesia and India 6 State-Owned Banks in Indonesia 123 P. S. Srinivas and Djauhari Sitorus 7 Role of State-Owned Financial Institutions in India: Should the Government “Do” or “Lead”? 181 Urjit R. Patel   Managing and Regulating 8 Lessons from Southern Africa 211 Lewis Musasike, Ted Stilwell, Moraka Makhura, Barry Jackson, and Marie Kirsten 9 Lessons from Indonesia 229 Pak Rudjito and Hendrawan Tranggana 10 Principles for Supervision 241 Jonathan L. Fiechter and Paul H. Kupiec   00-1335-5-FM 12/9/04 4:47 PM Page vi   Preparing for Privatization 11 Lessons from Pakistan 259 Ishrat Husain 12 Lessons from Uganda 269 Louis Kasekende   Achieving Privatization 13 Empirical Studies 279 George R. G. Clarke, Robert Cull, and Mary Shirley 14 Initial Public Offerings 315 Fred E. Huibers 15 Employee Stock Ownership Plans 345 David M. Binns and Ronald J. Gilbert Contributors 373 Index 375   00-1335-5-FM 12/9/04 4:47 PM Page vii 00-1335-5-FM 12/9/04 4:47 PM Page viii ...