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Privatization and Productivity in Romanian Industry: Evidence from a Comprehensive Enterprise Panel

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Author Info

  • Earle, John S.

    ()
    (George Mason University)

  • Telegdy, Álmos

    ()
    (Institute of Economics, Budapest)

Abstract

We construct and analyze a unique database with 1992-99 information on privatization transactions and labor productivity for the entire surviving population of initially state-owned industrial corporations in Romania. The data permit us to describe the post-privatization ownership structure and to test the effect of alternative privatization policies on firm performance in a panel framework. The results of OLS, LAD, and fixed-effects estimations consistently show a positive, highly significant effect of private ownership share on the level and growth of labor productivity, the estimates ranging from 13 to 32 log points for the level, and 9 to 16 for productivity growth. The strongest estimated impacts arise from sales to foreign and domestic blockholders, but insider and mass privatization are also estimated to have positive, although smaller, impacts on firm performance.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 326.

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Length: 40 pages
Date of creation: Jul 2001
Date of revision:
Publication status: published in: Journal of Comparative Economics, 2002, 30 (4), 657-682
Handle: RePEc:iza:izadps:dp326

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Related research

Keywords: restructuring; firm performance; ownership; Privatization; transition; Romania;

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Cited by:
  1. Daniela Andrén & Peter Martinsson, 2006. "What Contributes to Life Satisfaction in Transitional Romania?," Review of Development Economics, Wiley Blackwell, vol. 10(1), pages 59-70, 02.
  2. John S. Earle & Almos Telegdy, 2002. "Privatization Methods and Productivity Effects in Romanian Industrial Enterprises," Upjohn Working Papers and Journal Articles 02-81, W.E. Upjohn Institute for Employment Research.

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