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Privatization Methods and Productivity Effects in Romanian Industrial Enterprises

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Abstract

Comprehensive panel data on privatization transactions and labor productivity in Romanian industrial corporations are used to describe the post-privatization ownership structure, and to estimate the effect of Romania's diverse privatization policies on firm performance. The econometric results show consistently positive, highly significant effects of private ownership on labor productivity growth, the point estimates implying an increased 1.0 to 1.7 percentage growth for a 10 percent rise in private shareholding. The strongest estimated impacts are associated with sales to outside blockholders; insider transfers and mass privatization are estimated to have significantly smaller-although still positive-effects on firm performance.
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  • John S. Earle & Almos Telegdy, "undated". "Privatization Methods and Productivity Effects in Romanian Industrial Enterprises," Upjohn Working Papers and Journal Articles jse20024, W.E. Upjohn Institute for Employment Research.
  • Handle: RePEc:upj:weupjo:jse20024
    Note: Appears in Journal of Comparative Economics 30(4): 657-682
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    1. Robert E. Anderson & Simeon Dejankov & Gerhard Pohl & Stijn Claessons, 1997. "Privatization and Restructuring in Central and Eastern Europe," World Bank Other Operational Studies 11576, The World Bank.
    2. John S. Earle, 1999. "Post-Privatisation Ownership Structure and Productivity in Russian Industrial Enterprises," Working Papers 1999.19, Fondazione Eni Enrico Mattei.
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    Keywords

    privatization; transition; productivity; romania;

    JEL classification:

    • P23 - Economic Systems - - Socialist Systems and Transition Economies - - - Factor and Product Markets; Industry Studies; Population

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