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Industrial Restructuring in Central and Eastern Europe

Author

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  • Libor Krkoška

Abstract

This paper provides a comprehensive assessment of issues related to the restructuring of large industrial enterprises in Central and Eastern Europe. The experience with industrial restructuring in the region to date suggests that policies aimed at promoting restructuring should focus on: (i) improving the given investment climate by reducing bureaucracy, eradicating corruption, and rationalizing taxes and tax collection, (ii) strengthening social safety nets ? including balanced unemployment benefits and the provision of redundancy packages ? with strong emphasis on retraining schemes and labor mobility, and (iii) reducing soft budget constraints (primarily direct subsidies), soft bank loans, and tax arrears.A full English-language version of this paper is available at the journal's Web site: http://www.financeauver.org.

Suggested Citation

  • Libor Krkoška, 2001. "Industrial Restructuring in Central and Eastern Europe," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 51(7), pages 390-404, July.
  • Handle: RePEc:fau:fauart:v:51:y:2001:i:7:p:390-404
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    File URL: http://journal.fsv.cuni.cz/storage/492_001_390_404.pdf
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    More about this item

    Keywords

    structural change; enterprise restructuring; transition;

    JEL classification:

    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • P21 - Economic Systems - - Socialist Systems and Transition Economies - - - Planning, Coordination, and Reform
    • P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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