Market discipline and corporate efficiency: evidence from Bulgaria
AbstractIn this paper we investigate the impact of an increase in market discipline on total factor productivity (TFP) growth at the level of the firm in Bulgaria during 1991-95, focusing in particular on the effect of trade liberalization, corporatization and rationalization of conglomerates, and hard budget constraints. The data support the predicted relationship between increases in market discipline and subsequent productivity growth. Our results demonstrate the need to distinguish between exporting and non-exporting enterprises in assessing the impact of trade liberalization and the importance of taking into account other relevant policy changes.
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Bibliographic InfoArticle provided by Canadian Economics Association in its journal Canadian Journal of Economics.
Volume (Year): 33 (2000)
Issue (Month): 1 (February)
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Postal: Canadian Economics Association Prof. Steven Ambler, Secretary-Treasurer c/o Olivier Lebert, CEA/CJE/CPP Office C.P. 35006, 1221 Fleury Est Montréal, Québec, Canada H2C 3K4
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- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
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