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An Exploratory Analysis of Joint Ventures' Performance in Romania

Author

Listed:
  • Helmenstein, Christian

    (Institute for Advanced Studies, Vienna)

  • Voicu, Ioan

    (Department of Economics, The State University of New Jersey)

Abstract

This paper gives empirical evidence for the superior performance of foreign direct investment in Romania in the presence of highly labor-intensive production and large market shares. Performance is measured in terms of investment volume and net profits. Partial state-ownership in joint ventures adversely affects performance, while a higher degree of import competition - in contrast to common conviction - favors profits during this stage of reforms. According to the results of a profitability analysis, the optimal size per investment has neither been reached nor even been surpassed yet.

Suggested Citation

  • Helmenstein, Christian & Voicu, Ioan, 1995. "An Exploratory Analysis of Joint Ventures' Performance in Romania," East European Series 17, Institute for Advanced Studies.
  • Handle: RePEc:ihs:ihsrop:17
    as

    Download full text from publisher

    File URL: http://www.ihs.ac.at/publications/eco/east/ro-17.pdf
    File Function: First version, 1995
    Download Restriction: no

    References listed on IDEAS

    as
    1. Darrough, Masako N & Stoughton, Neal M, 1989. "A Bargaining Approach to Profit Sharing in Joint Ventures," The Journal of Business, University of Chicago Press, vol. 62(2), pages 237-270, April.
    2. Kogut, Bruce, 1989. "The Stability of Joint Ventures: Reciprocity and Competitive Rivalry," Journal of Industrial Economics, Wiley Blackwell, vol. 38(2), pages 183-198, December.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Economic Transition; Joint Ventures; Romania; Manufacturing Industry;

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • F15 - International Economics - - Trade - - - Economic Integration
    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models

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