Enterprise Restructuring and Transition
AbstractThis paper reviews developments in corporate performance in the FYR Macedonia during the 1990s. The paper finds substantial differences in performance between surviving old firms and nimbler new ones. The paper reviews factors that facilitated restructuring among surviving firms, and concludes that private sector ownership, hard budget constraints, and market-based economic institutions have served to strengthen corporate performance. The paper also shows that the predominance of insider privatization and the resulting low ownership concentration is one of the reasons for the poor performance of surviving firms.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 03/136.
Date of creation: 01 Jun 2003
Date of revision:
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Claessens, Stijn & Djankov, Simeon, 1999.
"Ownership Concentration and Corporate Performance in the Czech Republic,"
Journal of Comparative Economics,
Elsevier, vol. 27(3), pages 498-513, September.
- Stijn Claessens & Simeon Djankov, 1999. "Ownership Concentration and Corporate Performance in the Czech Republic," William Davidson Institute Working Papers Series 227, William Davidson Institute at the University of Michigan.
- Claessens, Stijn & Djankov, Simeon, 1999. "Ownership Concentration and Corporate Performance in the Czech Republic," CEPR Discussion Papers 2145, C.E.P.R. Discussion Papers.
- Manuela Angelucci & Saul Estrin & Jozef Konings & Zbigniew Zolkiewski, 2002.
"The Effect of Ownership and Competitive Pressure on Firm Performance in Transition Countries: Micro Evidence from Bulgaria, Romania and Poland,"
William Davidson Institute Working Papers Series
434, William Davidson Institute at the University of Michigan.
- Angelucci, Manuella & Estrin, Saul & Konings, Jozef & Zólkiewski, Zbigniew, 2001. "The Effect of Ownership and Competitive Pressure on Firm Performance in Transition Countries: Micro Evidence from Bulgaria, Romania and Poland," CEPR Discussion Papers 2985, C.E.P.R. Discussion Papers.
- Saul Estrin & Jozef Konings & Zbigniew Zolkiewski & Manuela Angelucci, 2001. "The Effect of Ownership and Competitive Pressure on Firm Performance in Transition Countries. Micro Evidence from Bulgaria, Romania and Poland," LICOS Discussion Papers 10401, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
- Möllers, Judith, 2006. "Außerlandwirtschaftliche Diversifikation im Transformationsprozzess: Diversifikationsentscheidungen und -strategien ländlicher Haushalte in Slowenien und Mazedonien," Studies on the Agricultural and Food Sector in Central and Eastern Europe, Leibniz Institute of Agricultural Development in Central and Eastern Europe (IAMO), volume 35, number 92495.
- World Bank, 2003. "FYR Macedonia : Country Economic Memorandum Tackling Unemployment," World Bank Other Operational Studies 14636, The World Bank.
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