Original scientific paper
From Accountable Government to Public Asset Management Reform and Welfare
Mihaela Grubišić
Mustafa Nušinović
Gorana Roje
Abstract
This paper examines the way public assets should be managed to preserve the national wealth. The research idea arises from experiences of some developed countries that manage their public assets through public investment funds, i.e. sovereign wealth funds. Drawing on the knowledge that public authorities in developed countries follow investment practice the same way that private investors do and that public assets are “manageable”, the paper deals with public property preservation and usage, and value enhancement in transition countries. We analyse the preconditions for efficient public asset management and ask whether the employment of public assets under the supervision of professional management can ensure better public services and welfare to the citizens of transition countries, once privatisation processes of public assets are close to being finalised.
Keywords
public asset (financial) management; public asset funds; profitoriented asset management; good governance; welfare state; transition countries
Hrčak ID:
32565
URI
Publication date:
15.2.2009.
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