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Behavior of Participatory Firms in Yugoslavia: Lessons for Transforming Economies

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  • Prasnikar, Janez, et al

Abstract

This paper develops a multiparty model of enterprise behavior, with the management, workers, and government authorities being the decisionmakers. The model captures the behavior of Yugoslav enterprises in the 1970s and 1980s, enterprises in transitional economies, and public-sector bargaining in Western countries. Estimating the model on Yugoslav firm-level data from the 1970s and 1980s indicates that the perverse behavior predicted by the Ward-Domar-Vanek model of labor-managed firms is not supported by the data as firms place emphasis on both wages and employment. A direct test shows that the employment response to output price changes is insignificant. Coauthors are Jan Svejnar, Dubravko Mihaljek, and Vesna Prasnikar. Copyright 1994 by MIT Press.

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  • Prasnikar, Janez, et al, 1994. "Behavior of Participatory Firms in Yugoslavia: Lessons for Transforming Economies," The Review of Economics and Statistics, MIT Press, vol. 76(4), pages 728-741, November.
    • Handle: RePEc:tpr:restat:v:76:y:1994:i:4:p:728-41
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    Cited by:

    1. Polterovich, Victor, 2000. "Employment- wage decisions in the insider-owned firm," BOFIT Discussion Papers 1/2000, Bank of Finland, Institute for Economies in Transition.
    2. Swati Basu & Saul Estrin & Jan Svejnar, 2005. "Employment Determination in Enterprises under Communism and in Transition: Evidence from Central Europe," ILR Review, Cornell University, ILR School, vol. 58(3), pages 353-369, April.
    3. Полтерович В.М., 2003. "Парадоксы Российского Рынка Труда И Теория Коллективных Фирм," Журнал Экономика и математические методы (ЭММ), Центральный Экономико-Математический Институт (ЦЭМИ), vol. 39(2), апрель.
    4. Peter J. Luke & Mark E. Schaffer, 1999. "Wage Determination in Russia: An Econometric Investigation," CERT Discussion Papers 9908, Centre for Economic Reform and Transformation, Heriot Watt University.
    5. Polona Domadenik & Lubomír Lízal & Marko Pahor, 2012. "The Effect of Enterprise Break-Ups on Performance. The Case of the Former Yugoslav Republic of Macedonia," Revue économique, Presses de Sciences-Po, vol. 63(5), pages 849-866.
    6. Ferrier, Gary D. & Klinedinst, Mark & Linvill, Carl B., 1998. "Static and Dynamic Productivity among Yugoslav Enterprises: Components and Correlates," Journal of Comparative Economics, Elsevier, vol. 26(4), pages 805-821, December.
    7. Bennett, John & Estrin, Saul & Maw, James, 2007. "The choice of privatization method in a transition economy when insiders control a firm," European Journal of Political Economy, Elsevier, vol. 23(3), pages 806-819, September.
    8. Kranz, Olaf & Steger, Thomas, 2016. "Resurrected, recovered, but still didn’t survive? A case study on the viability of employee-owned companies," management revue. Socio-economic Studies, Rainer Hampp Verlag, vol. 27(4), pages 234-260.
    9. Jan Babecky & Kamil Galuscak & Lubomir Lizal, 2011. "Firm-Level Labour Demand: Adjustment in Good Times and During the Crisis," Working Papers 2011/15, Czech National Bank.
    10. Jed Friedman, 2004. "Firm ownership and internal labour practices in a transition economy," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 12(2), pages 333-366, June.
    11. Endri Papajorgji & Naim Mëçalla, 2021. "Enterprises in Yugoslavia as a Specialty of Workers' Self-Management System During Socialism (1945-1990)," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 10, September.
    12. repec:zbw:bofitp:2000_001 is not listed on IDEAS
    13. Basu, Swati & Estrin, Saul & Svejnar, Jan, 2004. "Wage Determination under Communism and in Transition: Evidence from Central Europe," IZA Discussion Papers 1276, Institute of Labor Economics (IZA).
    14. Dong, Xiao-yuan, 1998. "Employment and Wage Determination in China's Rural Industry: Investigation Using 1984-1990 Panel Data," Journal of Comparative Economics, Elsevier, vol. 26(3), pages 485-501, September.
    15. Janez Prasnikar & Jan Svejnar, 1998. "Investment Wages and Ownership During the Transition to a Market Economy: Evidence from Slovenian Firms," William Davidson Institute Working Papers Series 144, William Davidson Institute at the University of Michigan.
    16. Shakhnovich Ruvim & Yudashkina Galina, 2001. "Wage-Setting and Employment Behavior of Enterprises during the Period of Economic Transition," EERC Working Paper Series 01-04e, EERC Research Network, Russia and CIS.
    17. Leonard Kukić, 2020. "Origins of regional divergence: economic growth in socialist Yugoslavia," Economic History Review, Economic History Society, vol. 73(4), pages 1097-1127, November.
    18. Burdín, Gabriel & Dean, Andrés, 2012. "Revisiting the objectives of worker-managed firms: An empirical assessment," Economic Systems, Elsevier, vol. 36(1), pages 158-171.
    19. Swati Basu & Saul Estrin & Jan Svejnar, 2000. "Employment and Wages in Enterprises Under Communism and in Transition: Evidence from Central Europe and Russia," William Davidson Institute Working Papers Series 114, William Davidson Institute at the University of Michigan.
    20. De Loecker, Jan & Konings, Jozef, 2006. "Job reallocation and productivity growth in a post-socialist economy: Evidence from Slovenian manufacturing," European Journal of Political Economy, Elsevier, vol. 22(2), pages 388-408, June.
    21. Dietrich Earnhart & Lubomir Lizal, 2010. "Effect of Corporate Economic Performance on Firm-Level Environmental Performance in a Transition Economy," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 46(3), pages 303-329, July.
    22. Polterovich, Victor, 2000. "Employment- wage decisions in the insider-owned firm," BOFIT Discussion Papers 1/2000, Bank of Finland Institute for Emerging Economies (BOFIT).
    23. Jed Friedman, 2004. "Firm Ownership and Internal Labor Practices in a Transition Economy: An Exploration of Worker Skill Acquisition in Vietnam," William Davidson Institute Working Papers Series 2004-696, William Davidson Institute at the University of Michigan.

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