This session presented the findings of the Lithuania Case Study featured in the publication Building Effective, Accountable, and Inclusive Institutions in Europe and Central Asia: Lessons from the Region.
Lithuania’s reform of the state-owned enterprises (SOEs) ownership and corporate governance is often cited as revolutionary. This view is especially supported by the reforms implemented over the past several years preparing the country’s accession to the Organisation for Economic Co-operation and Development (OECD) in 2018. The OECD accession could be reasonably seen as one of the main factors behind the major changes in the country’s corporate governance framework in general and its SOE sector, in particular. The background of 2009 economic contraction of 15 percent of GDP created an additional push for revisiting SOEs contribution to the economy.
This session presented the five major sets of lessons from the changes in the governance of Lithuania’s SOE sector since 2010 and the significant reforms around Lithuania’s accession to the OECD in 2018. Panelists also discussed whether all SOE governance reforms had an impact on SOE returns, financial and non-financial, and what remains to be done.
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