Wage and Investment Behavior in Transition: Evidence from a Polish Panel Data Set
AbstractThis paper looks at the behavior of large industrial firms in Poland in 1988-1994. Using a longitudinal enterprise level data set, we are able to systematically test various hypotheses concerning firms reactions to the change in their environment. The results confirm a structural break after the introduction of the package of reforms in 1990. Labor market conditions and product market competition exert important downward pressure on wages. However, after 1993, this initially strong response is weakened. Comparison of wage setting behavior across different types of firms confirms important differences in wage negociation. In state-owned enterprises insiders capture an important part of productivity increase while in privatized firms there is no positive relationship between firm ability to pay and wage increases. Privatization appears important for the strategic dimension of enterprise restructuring. Privatized firms invest more and have greater capacity to ensure higher output growth.
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Bibliographic InfoPaper provided by DELTA (Ecole normale supérieure) in its series DELTA Working Papers with number 97-19.
Date of creation: 1997
Date of revision:
Other versions of this item:
- Grosfeld, Irena & Nivet, Jean-François, 1997. "Wage and Investment Behaviour in Transition: Evidence from a Polish Panel Data Set," CEPR Discussion Papers 1726, C.E.P.R. Discussion Papers.
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- P21 - Economic Systems - - Socialist Systems and Transition Economies - - - Planning, Coordination, and Reform
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