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Abstract

Using survey data for 220 traditional manufacturing firms over 7 years of transition and 4 CEE countries we show that firms which produced for the EU market under planning consistently outperform those that traditionally produced for the CMEA market. A gradualist selection process to outside privatisation of previously CMEA oriented firms induces outside ownership to outperform insider/state owned firms. A resistance to outside privatisation in firms inheriting EU markets ensures that ownership structure has no effect on firm performance. Conditioning our analysis on initial demand conditions helps unravel puzzling empirical outcomes in relation to issues of corporate governance during transition.

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Bibliographic Info

Paper provided by LICOS - Centre for Institutions and Economic Performance, KU Leuven in its series LICOS Discussion Papers with number 8599.

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Length: 35 pages
Date of creation: 1999
Date of revision:
Handle: RePEc:lic:licosd:8599

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Related research

Keywords: Privatisation; Political Economy and Firm Performance;

Other versions of this item:

Find related papers by JEL classification:

• P52 - Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

This paper has been announced in the following NEP Reports:

• NEP-ALL-2004-07-04 (All new papers)
• NEP-MFD-2003-11-03 (Microfinance)
• NEP-POL-2004-07-04 (Positive Political Economics)
• NEP-TRA-2004-07-04 (Transition Economics)

References

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Citations

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Cited by:

1. Bang, James T., 2007. "Determinants of the method of sale in privatization," Economic Systems, Elsevier, vol. 31(3), pages 272-291, September.
2. Richard B. Goud Jr., 2002. "Ownership and Firm Performance: Evidence from 25 Countries in Central and Eastern Europe and the Former Soviet Union," Development and Comp Systems 0207002, EconWPA.
3. Bhaumik, Sumon Kumar & Dimova, Ralitza & Nugent, Jeffrey B., 2011. "Off-farm labor supply and labor markets in rapidly changing circumstances: Bulgaria during transition," Economic Systems, Elsevier, vol. 35(3), pages 378-389, September.
4. Angelucci, Manuella & Bevan, Alan & Estrin, Saul & Fennema, Julian A & Kuznetsov, Boris & Mangiarotti, Giovanni & Schaffer, Mark E, 2002. "The Determinants of Privatized Enterprise Performance in Russia," CEPR Discussion Papers 3193, C.E.P.R. Discussion Papers.
   
   • Saul Estrin & Alan A. Bevan & Boris Kuznetsov & Mark E. Schaffer & Manuela Angelucci & Julian Fennema & Giovanni Mangiarotti, 2001. "The Determinants of Privatised Enterprise Performance in Russia," William Davidson Institute Working Papers Series 452, William Davidson Institute at the University of Michigan.
5. Faggio, Giulia & Konings, Jozef, 2001. "Job Creation, Job Destruction and Employment Growth in Transition Countries in the 90's," IZA Discussion Papers 242, Institute for the Study of Labor (IZA).
   
   • Faggio, Giulia & Konings, Jozef, 2003. "Job creation, job destruction and employment growth in transition countries in the 90s," Economic Systems, Elsevier, vol. 27(2), pages 129-154, June.
6. Konings, Joep & Van Cayseele, Patrick & Warzynski, Frederic, 2002. "The effects of privatization and competitive pressure on firms’ price-cost margins: Micro evidence from emerging economies," Open Access publications from Katholieke Universiteit Leuven urn:hdl:123456789/121577, Katholieke Universiteit Leuven.
   
   • Jozef Konings & Patrick Van Cayseele & Frederic Warzynski, 2005. "The Effects of Privatization and Competitive Pressure on Firms' Price-Cost Margins: Micro Evidence from Emerging Economies," The Review of Economics and Statistics, MIT Press, vol. 87(1), pages 124-134, February.
   • Konings, Jozef & Van Cayseele, Patrick & Warzynski, Frederic, 2003. "The Effect of Privatization and Competitive Pressure on Firms' Price-Cost Margins: Micro Evidence from Emerging Economies," CEPR Discussion Papers 3703, C.E.P.R. Discussion Papers.
   • Konings, Jozef & Van Cayseele, Patrick & Warzynski, Frédéric, 2003. "The Effects of Privatization and Competitive Pressure on Firms’ Price-Cost Margins: Micro Evidence from Emerging Economies," Working Papers 03-17, University of Aarhus, Aarhus School of Business, Department of Economics.
   • Jozef Konings & Patrick Van Cayseele & Frederic Warzynski, 2002. "The Effects of Privatization and Competitive Pressure on Firms?Price-cost Margins: Micro Evidence from Emerging Economies," LICOS Discussion Papers 12502, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
   • Konings, Joep & Van Cayseele, Patrick & Warzynski, F, 2005. "The effects of privatization and competitive pressure on firms' price-cost margins: Micro evidence from emerging economies," Open Access publications from Katholieke Universiteit Leuven urn:hdl:123456789/101622, Katholieke Universiteit Leuven.
7. Karen Crabbé & Michel Beine, 2009. "Trade, Institutions and Export Specialization," LICOS Discussion Papers 23409, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
   
   • Crabbé, Karen & Beine, Michel, 2009. "Trade, institutions and export specialization," Open Access publications from Katholieke Universiteit Leuven urn:hdl:123456789/386417, Katholieke Universiteit Leuven.
   • Crabbé, Karen & Beine, Michel, 2009. "Trade, instititutions and export specialization," Open Access publications from Katholieke Universiteit Leuven urn:hdl:123456789/234418, Katholieke Universiteit Leuven.
8. Schnytzer, Adi & Andreyeva, Tatiana, 2002. "Company performance in Ukraine: is this a market economy?," Economic Systems, Elsevier, vol. 26(2), pages 83-98, June.
9. Konings, Joep & Xavier, Ana, 2002. "Firm growth and survival in a transition country: Micro evidence from Slovenia," Open Access publications from Katholieke Universiteit Leuven urn:hdl:123456789/121576, Katholieke Universiteit Leuven.
   
   • Jozef Konings & Ana Xavier, 2002. "Firm Growth and Survival in a Transition Country: Micro Evidence from Slovenia," LICOS Discussion Papers 11402, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
10. Stefan Bojnec & Ana Xavier, 2004. "Entry and exit in transition economies: the Slovenian manufacturing sector," Post-Communist Economies, Taylor and Francis Journals, vol. 16(2), pages 191-214.
11. Crabbé, Karen, 2008. "Essays on corporate tax competition in Europe.," Open Access publications from Katholieke Universiteit Leuven urn:hdl:1979/1761, Katholieke Universiteit Leuven.

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