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The rise and fall of employee ownership in Estonia, 1987–2001

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  • Panu Kalmi

Abstract

The privatisation processes in eastern europe created ownership structures that were very different from those observed in developed Western economies. The widespread application of employee ownership in privatisation is a particularly fascinating case (Uvalic & Vaughan-Whitehead, 1997a; EBRD, 1998). The expectation of many observers was that employee ownership would prove to be temporary and a rapid convergence to more familiar ownership structures would take place (Boycko et al., 1995; Blanchard &Aghion, 1996). Subsequent evidence has partly confirmed the transience hypothesis, since the number of employee-owned enterprises was found to decline rapidly (Estrin &Wright, 1999; Jones &Mygind, 1999a). However, relatively little is known on how and for what reasons the decline is taking place. This article analyses these questions using empirical data from Estonia.

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  • Panu Kalmi, 2003. "The rise and fall of employee ownership in Estonia, 1987–2001," Europe-Asia Studies, Taylor & Francis Journals, vol. 55(8), pages 1213-1239.
    • Handle: RePEc:taf:ceasxx:v:55:y:2003:i:8:p:1213-1239
    DOI: 10.1080/0966813032000141097
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