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Enterprise Defensive Restructuring: Cross-country Evidence within Transitional Settings

In: The European Labour Market. Regional Dimensions

Author

Listed:
  • Polona Domadenik

    (University of Ljubljana)

  • Maja Vehovec

    (The Institute of Economics, Zagreb)

Abstract

This paper considers findings from a panel of Croatian and Slovenian firms throughout the period 1995–2000. Scrutiny of Croatia and Slovenia sheds light on regional issues, owing to their small size and their being part of the same country until the early 1990s. More particularly, the issues of defensive and strategic restructuring are addressed through dynamic labour demand analysis. The estimated short run elasticities of labour with respect to wages and output are very similar for the two countries and confirm that firms in both economies adjusted employment gradually over time in response to exogenous shocks occurring at the beginning of transition. However, long-run wage elasticities are greater for Slovenian firms, suggesting that deeper and more efficient strategic restructuring in Slovenia was a significant factor in the differing economic performances of the two countries in the first decade of transition.

Suggested Citation

  • Polona Domadenik & Maja Vehovec, 2006. "Enterprise Defensive Restructuring: Cross-country Evidence within Transitional Settings," AIEL Series in Labour Economics, in: Floro Ernesto Caroleo & Sergio Destefanis (ed.), The European Labour Market. Regional Dimensions, edition 1, chapter 7, pages 165-178, AIEL - Associazione Italiana Economisti del Lavoro.
    • Handle: RePEc:ail:chapts:01-07
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    More about this item

    Keywords

    defensive restructuring; strategic restructuring; dynamic labour demand; Croatia; Slovenia.;
    All these keywords.

    JEL classification:

    • J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers
    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies
    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics

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