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Competition and Privatization Amidst Weak Institutions: Evidence from Mongolia

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  • Anderson, James H
  • Lee, Young
  • Murrell, Peter

Abstract

Mongolia's mass privatization program was implanted in a country that lacked the very basic institutions of capitalism. This paper examines the effects of competition and ownership on the efficiency of the newly privatized enterprises, using a representative sample of enterprises and controlling for possible selection biases. Competition has quantitatively large effects; perfectly competitive firms having nearly double the efficiency of monopolies. Enterprises with residual state ownership appear to be more efficient than other enterprises, reflecting an environment where the government was pressured to focus on efficiency and institutions gave little voice to outsider owners. Copyright 2000 by Oxford University Press.

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Bibliographic Info

Article provided by Western Economic Association International in its journal Economic Inquiry.

Volume (Year): 38 (2000)
Issue (Month): 4 (October)
Pages: 527-49

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Handle: RePEc:oup:ecinqu:v:38:y:2000:i:4:p:527-49

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Citations

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Cited by:
  1. Kevin C. Cheng, 2003. "Growth and Recovery in Mongolia During Transition," IMF Working Papers 03/217, International Monetary Fund.
  2. Orazem, Peter F. & Vodopivec, Milan, 2003. "Do Market Pressures Induce Economic Efficiency: The Case of Slovenian Manufacturing, 1994-2001," IZA Discussion Papers 901, Institute for the Study of Labor (IZA).
  3. Çaðla Ökten, 2005. "The Effects of Privatization on Efficiency : How Does Privatization Work?," Departmental Working Papers 0504, Bilkent University, Department of Economics.
  4. Jan Hagemejer & Joanna Tyrowicz & Jan Svejnar, 2014. "Measuring the Causal Effect of Privatization on Firm Performance," Working Papers 2014-14, Faculty of Economic Sciences, University of Warsaw.
  5. John Marangos, 2002. "A post Keynesian critique of privatization policies in transition economies," Journal of International Development, John Wiley & Sons, Ltd., vol. 14(5), pages 573-589.
  6. Earle, John S. & Telegdy, Almos, 2002. "Privatization Methods and Productivity Effects in Romanian Industrial Enterprises," Journal of Comparative Economics, Elsevier, vol. 30(4), pages 657-682, December.
  7. Maw, James, 2002. "Partial privatization in transition economies," Economic Systems, Elsevier, vol. 26(3), pages 271-282, September.
  8. Asaftei, Gabriel & Parmeter, Christopher F., 2010. "Market power, EU integration and privatization: The case of Romania," Journal of Comparative Economics, Elsevier, vol. 38(3), pages 340-356, September.
  9. Debande, Olivier & Friebel, Guido, 2004. "A positive theory of give-away privatization," International Journal of Industrial Organization, Elsevier, vol. 22(8-9), pages 1309-1325, November.
  10. J. David Brown & John Earle & Almos Telegdy, 2004. "Does Privatization Raise Productivity? Evidence from Comprehensive Panel Data on Manufacturing Firms in Hungary, Romania, Russia, and Ukraine," CERT Discussion Papers 0410, Centre for Economic Reform and Transformation, Heriot Watt University.
  11. Claessens, Stijn & Djankov, Simeon, 2002. "Privatization benefits in Eastern Europe," Journal of Public Economics, Elsevier, vol. 83(3), pages 307-324, March.
  12. Carney, Richard W. & Liu, Wai-Man (Raymond) & Ngo, Phong T. H., 2012. "Responding to Financial Crisis: The Rise of State Ownership and Implications for Firm Performance," MPRA Paper 43600, University Library of Munich, Germany.
  13. Alexander Pivovarsky, 2001. "How Does Privatization Work? Ownership Concentration and Enterprise Performance in Ukraine," IMF Working Papers 01/42, International Monetary Fund.
  14. Okten, Cagla & Arin, K. Peren, 2006. "The Effects of Privatization on Efficiency: How Does Privatization Work?," World Development, Elsevier, vol. 34(9), pages 1537-1556, September.
  15. Tran Thi, Que Giang, 2008. "The Impacts of Corporate Governance On the Performance of Privatized Firms In Vietnam," Economics Papers from University Paris Dauphine 123456789/3860, Paris Dauphine University.
  16. Wu, Hsueh-Liang, 2011. "Can minority state ownership influence firm value? Universal and contingency views of its governance effects," Journal of Business Research, Elsevier, vol. 64(8), pages 839-845, August.

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