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Crédibilité des réformes et ajustement des entreprises en Pologne et en république tchèque

Listed author(s):
  • Bouin, O.
  • Grosfeld, I.

[eng] Reform credibility and the adjustment of enterprises in Poland and the Czech Republic The purpose of this paper is to analyse the behaviour of Polish and Czech enterprises under conditions of radical economic reform. On the basis of a sample of 400 large industrial firms and of 20 case studies, we show that the extent and nature of the adjustments in the two countries are fairly comparable. Our analysis of the restructuring suggests that the credibility of the enforcement of bankruptcy procedures can partly be considered as a substitute for the government's commitment to privatise. In the long run, however, restructuring depends on the evolution of property structures and that of the financial system. [fre] Cet article se propose d'analyser les comportements des entreprises polonai­ses et tchèques en les reliant aux politiques de réforme économique radicale. Sur la base d'un échantillon de 400 grandes entreprises industrielles et de vingt études de cas, nous montrons que l'ampleur et la nature des ajustements sont relati­vement comparables. Notre analyse des origines de ces restructurations au cours de la période de pré-privatisation suggère que la crédibilité de la mise en œuvre des procédures de faillite peut être partiellement considéré comme un substitut à l'engagement du gouvernement à privatiser. À long terme, les restructurations dépendront toutefois de l'évolution des structures de propriété et de celle du sys­tème financier.

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Paper provided by DELTA (Ecole normale supérieure) in its series DELTA Working Papers with number 94-24.

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Date of creation: 1994
Handle: RePEc:del:abcdef:94-24
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  1. Olivier Bouin & François Bourguignon, 1994. "Transférer la propriété privée par la méthode des coupons : l'expérience de l'ex-Tchécoslovaquie," Revue Économique, Programme National Persée, vol. 45(3), pages 845-856.
  2. Brian Pinto & Marek Belka & Stefan Krajewski, 1993. "Transforming State Enterprises in Poland: Evidence on Adjustment by Manufacturing Firms," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 24(1), pages 213-270.
  3. Bofinger, Peter, 1993. "The Output Decline in Central and Eastern Europe: A Classical Explanation," CEPR Discussion Papers 784, C.E.P.R. Discussion Papers.
  4. Burda, Michael C, 1994. "Structural Change and Unemployment in Central and Eastern Europe: Some Key Issues," CEPR Discussion Papers 977, C.E.P.R. Discussion Papers.
  5. Grosfeld, Irena & Roland, Gérard, 1995. "Defensive and Strategic Restructuring in Central European Enterprises," CEPR Discussion Papers 1135, C.E.P.R. Discussion Papers.
  6. Grosfeld, Irena, 1994. "Financial Systems in Transition: Is there a Case for a Bank Based System?," CEPR Discussion Papers 1062, C.E.P.R. Discussion Papers.
  7. Aghion, Philippe & Blanchard, Olivier & Burgess, Robin, 1994. "The behaviour of state firms in eastern Europe, pre-privatisation," European Economic Review, Elsevier, vol. 38(6), pages 1327-1349, June.
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