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Determinants of Enterprise restructuring in Transition: Description of a Survey in Russian Industry

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  • Luc Moers

    (University of Amsterdam)

Abstract

To achieve sustainable economic growth in transition countries, it is crucial that enterpriseperformance is improved. However, it is not a priori clear which factors are essential for this. ForRussia, data to investigate the potential determinants of enterprise performance is scarce.Therefore, the survey described in this paper collects data on enterprise restructuring, ownership,competition, budget constraints and, particularly, institutions in Russian industry, covering theperiod between the start of 1992 and September 1999. On their own, the survey answers show adevastating restructuring crisis, massive privatization, rather weak competition, unexpectedly hardbudget constraints, an overwhelmingly negative and relatively positive assessment of formal andinformal institutions respectively, and largely the same ruling networks as before the start of marketreforms. Ironically, tentative results based on this survey indicate that (un)important determinantsof enterprise restructuring in Russian industry are exactly those on which, according to the responseper se, least (most) reform has been accomplished. That is: stronger competition and betterinstitutions go with more restructuring, while privatization and harder budget constraints do not.The substitution, to some extent, of informal for formal institutions may have prevented even worserestructuring figures, but the results also suggest that better formal institutions in general wouldhave led to further improvements.

Suggested Citation

  • Luc Moers, 2000. "Determinants of Enterprise restructuring in Transition: Description of a Survey in Russian Industry," Tinbergen Institute Discussion Papers 00-026/2, Tinbergen Institute.
    • Handle: RePEc:tin:wpaper:20000026
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    References listed on IDEAS

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    1. Grogan, Louise & Moers, Luc, 2001. "Growth empirics with institutional measures for transition countries," Economic Systems, Elsevier, vol. 25(4), pages 323-344, December.
    2. Susan J Linz & Gary Krueger, 1998. "Enterprise Restructuring in Russia's Transition Economy: Formal and Informal Mechanisms," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 40(2), pages 5-52, July.
    3. Coe, David T. & Helpman, Elhanan, 1995. "International R&D spillovers," European Economic Review, Elsevier, vol. 39(5), pages 859-887, May.
    4. Schaffer, Mark E., 1998. "Do Firms in Transition Economies Have Soft Budget Constraints? A Reconsideration of Concepts and Evidence," Journal of Comparative Economics, Elsevier, vol. 26(1), pages 80-103, March.
    5. Simon Clarke & Veronika Kabalina, 1999. "Employment in the New Private Sector in Russia," Post-Communist Economies, Taylor & Francis Journals, vol. 11(4), pages 421-443.
    6. A. Richter & M.E. Schaffer, 1996. "The Performance of De Novo Private Firms in Russian Manufacturing," CERT Discussion Papers 9610, Centre for Economic Reform and Transformation, Heriot Watt University.
    7. Narayan, Deepa & Pritchett, Lant, 1999. "Cents and Sociability: Household Income and Social Capital in Rural Tanzania," Economic Development and Cultural Change, University of Chicago Press, vol. 47(4), pages 871-897, July.
    8. Haggard, Stephan & McMillan, John & Woodruff, Christopher, 1996. "Trust and Search in Vietnam's Emerging Private Sector," CEPR Discussion Papers 1506, C.E.P.R. Discussion Papers.
    9. Luc Moers, 1998. "Growth Empirics with Institutional Measures and its Application to Transition Countries: A Survey," Tinbergen Institute Discussion Papers 98-126/2, Tinbergen Institute.
    10. Luc Moers, 1999. "What determines Enterprise Performance in Russia? A Survey of the Evidence," Tinbergen Institute Discussion Papers 99-077/2, Tinbergen Institute.
    11. Earle, John S & Estrin, Saul, 1997. "After Voucher Privatization: The Structure of Corporate Ownership in Russian Manufacturing Industry," CEPR Discussion Papers 1736, C.E.P.R. Discussion Papers.
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    Cited by:

    1. Tullio Buccellato & Francesco Santangelo, 2009. "Foreign direct investments distribution in the Russian Federation: do spatial effects matter?," UCL SSEES Economics and Business working paper series 99, UCL School of Slavonic and East European Studies (SSEES).
    2. 岩﨑, 一郎 & Iwasaki, Ichiro & イワサキ, イチロウ, 2007. "取締役会構成とその内生性 : ロシア株式会社の実証分析, Board Formation and its Endogeneity: An Empirical Analysis of Russian Corporations," Discussion Paper Series b37, Institute of Economic Research, Hitotsubashi University.
    3. Paul Frijters & Dirk Bezemer & Uwe Dulleck, 2003. "Socialism, Capitalism, and Transition - Coordination of Economic Relations and Output Performance," Paul Frijters Discussion Papers 2003, School of Economics and Finance, Queensland University of Technology.
    4. S. Avdasheva., 2007. "Russian Holding Company Groups: New Empirical Evidence," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 1.
    5. S. Avdasheva, 2007. "Russian Holding Company Groups: New Empirical Evidence," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 1.
    6. Ichiro Iwasaki, 2007. "Enterprise Reform And Corporate Governance In Russia: A Quantitative Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 21(5), pages 849-902, December.

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    More about this item

    Keywords

    Transition economics; Russia; enterprise restructuring; policy reform; institutions;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform
    • P27 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Performance and Prospects
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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