J. David Brown (Heriot-Watt University and CEU Labor Project) John S. Earle () (W.E. Upjohn Institute for Employment Research and Central European University) Vladimir Vakhitov (University of Kentucky and Kyiv-Mohyla School of Economics)
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This paper estimates the effects of privatization on worker separations and wages using retrospective data from a national probability sample of Ukrainian households. Detailed worker characteristics are used to control for compositional differences and to assess types of observable "winners" and "losers" from privatization. Preprivatization worker-firm matches are used to control for unobservables in worker and firm selection. The results imply that privatization reduces wages by 5 percent and cuts the layoff probability in half. Outside investor ownership reduces separations but leaves wages unaffected. Winners from privatization tend to be higher skilled employees of larger firms, but there is no discernable relationship with gender, education, or experience.
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Paper provided by W.E. Upjohn Institute for Employment Research in its series Staff Working Papers with number
06-126.
Length: Date of creation: Feb 2006 Date of revision: Handle: RePEc:upj:weupjo:06-126
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Find related papers by JEL classification: D21 - Microeconomics - - Production and Organizations - - - Firm Behavior G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Boundaries of Public and Private Enterprise; Privatization; Contracting Out P23 - Economic Systems - - Socialist Systems and Transition Economies - - - Factor and Product Markets; Industry Studies; Population P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
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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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