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Who Creates Jobs in Hungary? The Role of Entering, Exiting and Continuing Firms Before and During the Crisis

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  • John Sutherland Earle

    ()
    (George Mason University, Central European University)

  • Almos Telegdy

    ()
    (Institute of Economics of the Hungarian Academy of Sciences)

Abstract

Using a large panel of Hungarian firms, we study the relation between firm size and net job creation. Categorizing firms in size groups with the traditionally used measure of employment size in the base year suggests that small firms create a disproportionally higher number of jobs than large enterprises. This relation declines when average employment size is used instead, and it reverses when firm age is controlled for. The crisis brought about large declines in employment across all types of firms. The analysis reveals that the main reason for this declines is the increased job destruction rates. Whole job creation rates were stable during the crisis, job destruction increased by about 4 percentage points. We find that the net growth of exporting and foreign-owned firms was reduced the most by the crisis, while state-owned firms kept most of the pre-crisis jobs.

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Bibliographic Info

Paper provided by Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences in its series Budapest Working Papers on the Labour Market with number 1108.

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Date of creation: Sep 2011
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Handle: RePEc:has:bworkp:1108

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Keywords: Small and Medium Enterprises; employment; job creation; growth; Hungary;

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References

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  1. J. David Brown & John S. Earle & Almos Telegdy, 2006. "The Productivity Effects of Privatization: Longitudinal Estimates from Hungary, Romania, Russia, and Ukraine," Journal of Political Economy, University of Chicago Press, vol. 114(1), pages 61-99, February.
  2. Steven J. Davis & John Haltiwanger & Scott Schuh, 1993. "Small Business and Job Creation: Dissecting the Myth and Reassessing theFacts," NBER Working Papers 4492, National Bureau of Economic Research, Inc.
  3. Guido W. Imbens & Jeffrey M. Wooldridge, 2009. "Recent Developments in the Econometrics of Program Evaluation," Journal of Economic Literature, American Economic Association, vol. 47(1), pages 5-86, March.
  4. Chesher, Andrew, 1979. "Testing the Law of Proportionate Effect," Journal of Industrial Economics, Wiley Blackwell, vol. 27(4), pages 403-11, June.
  5. John C. Haltiwanger & Ron S. Jarmin & Javier Miranda, 2010. "Who Creates Jobs? Small vs. Large vs. Young," NBER Working Papers 16300, National Bureau of Economic Research, Inc.
  6. J. David Brown & John Earle & Álmos Telegdy, 2008. "Employment and Wage Effects of Privatization: Evidence from Hungary, Romania, Russia, and Ukraine," CERT Discussion Papers 0807, Centre for Economic Reform and Transformation, Heriot Watt University.
  7. Boycko, Maxim & Shleifer, Andrei & Vishny, Robert W, 1996. "A Theory of Privatisation," Economic Journal, Royal Economic Society, vol. 106(435), pages 309-19, March.
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