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Industrial restructuring in Russia: early reactions fo firms to the shock of liberalization

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  • Esther Duflo
  • Claudia Senik-Leygonie

Abstract

This paper looks at the reaction of Russian firsm to the shock of liberalization. Firms are exposed to two kinds of shocks. A supply affects their profitability. A demand shock reflects the new expression of consumers and the opening of the country to foreign competition. Econometric tests show that firms adapt to these changes. They react by adjusting their output. They are not able to change their production techniques for lack of fresh capital. Employment is more stable that output: it is preserved by the adjustment of real wages. Therefore, firms with a low share of material inputs are relatively better off. Copyright The European Bank for Reconstruction and Development, 1997.

Suggested Citation

  • Esther Duflo & Claudia Senik-Leygonie, 1997. "Industrial restructuring in Russia: early reactions fo firms to the shock of liberalization," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 5(1), pages 45-62, May.
  • Handle: RePEc:bla:etrans:v:5:y:1997:i:1:p:45-62
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    References listed on IDEAS

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    1. Neven, Damien J, 1994. "Trade Liberalization with Eastern Nations. How Sensitive?," CEPR Discussion Papers 1000, C.E.P.R. Discussion Papers.
    2. Brown, A.N. & Ickes, B. & Ryterman, R., 1993. "The Myth of Monopoly: A New View of Industrial Structure in Russia," Papers 10-93-5, Pennsylvania State - Department of Economics.
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    More about this item

    JEL classification:

    • L30 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - General
    • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises
    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out

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