Productivity, ownership, and the investment climate : international lessons for priorities in Serbia
AbstractThe authors use data on 27,000 firms from 50 countries, half of which are transition economies, together with the case of Serbia to examine the relationship between productivity, the investment climate, and private ownership of firms. As government capacity to address investment climate constraints is limited, the prioritization of the constraints is critical. Identification of the relative effects of various investment climate constraints and ownership on productivity should serve as aguide for such prioritization. Although ownership has recently received less attention in policy decisions than before, according to the econometric analysis of productivity reported by the authors, private ownership is an equally or more important determinant of productivity than other components of the investment climate. The importance of ownership shows that an unfinished privatization and restructuring agenda might have negative effects on productivity, in parallel to poor investment climate. Another important finding is that countries in which firms complain more about infrastructure tend to have less productive firms.
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Bibliographic InfoPaper provided by The World Bank in its series Policy Research Working Paper Series with number 3681.
Date of creation: 01 Aug 2005
Date of revision:
Economic Theory&Research; Environmental Economics&Policies; Trade and Regional Integration; Banks&Banking Reform; Governance Indicators;
Other versions of this item:
- Itzhak Goldberg & Branko Radulovic & Mark E. Schaffer, 2005. "Productivity, Ownership and the Investment Climate: International Lessons for Priorities in Serbia," CERT Discussion Papers, Centre for Economic Reform and Transformation, Heriot Watt University 0503, Centre for Economic Reform and Transformation, Heriot Watt University.
- P3 - Economic Systems - - Socialist Institutions and Their Transitions
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
- L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
- O17 - Economic Development, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-12-14 (All new papers)
- NEP-EFF-2005-12-14 (Efficiency & Productivity)
- NEP-TRA-2005-12-14 (Transition Economics)
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