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Firm growth and productivity in Belarus : new empirical evidence from the machine building industry

  • Cuaresma, Jesus Crespo
  • Oberhofer, Harald
  • Vincelette, Gallina A.

Using a unique dataset comprising information for more than 900 firms in the machine building sector in Belarus, this paper investigates the determinants of firm growth for an economy where state ownership of enterprises is widespread. It uses panel data models based on generalizations of Gibrat's law, total factor productivity estimates and matching methods to assess the differences in firm growth between private and state-owned firms. The results indicate that labor hoarding and soft budget constraints play a particularly important role in explaining differences in performance between these two groups of firms.

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Paper provided by The World Bank in its series Policy Research Working Paper Series with number 6005.

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Date of creation: 01 Mar 2012
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Handle: RePEc:wbk:wbrwps:6005
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  1. M. Del Gatto & A. Di Liberto & C. Petraglia, 2008. "Measuring Productivity," Working Paper CRENoS 200818, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
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  3. Cuaresma, Jesus Crespo & Oberhofer, Harald & Vincelette, Gallina A., 2012. "Firm growth and productivity in Belarus : new empirical evidence from the machine building industry," Policy Research Working Paper Series 6005, The World Bank.
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  7. Jeffrey M Wooldridge, 2010. "Econometric Analysis of Cross Section and Panel Data," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262232588, December.
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  17. Goddard, John & Wilson, John & Blandon, Peter, 2002. "Panel tests of Gibrat's Law for Japanese manufacturing," International Journal of Industrial Organization, Elsevier, vol. 20(3), pages 415-433, March.
  18. Goddard, John A. & McKillop, Donal G. & Wilson, John O. S., 2002. "The growth of US credit unions," Journal of Banking & Finance, Elsevier, vol. 26(12), pages 2327-2356.
  19. Williamson, Oliver E, 1971. "The Vertical Integration of Production: Market Failure Considerations," American Economic Review, American Economic Association, vol. 61(2), pages 112-23, May.
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  21. Alberto Abadie & David Drukker & Jane Leber Herr & Guido W. Imbens, 2004. "Implementing matching estimators for average treatment effects in Stata," Stata Journal, StataCorp LP, vol. 4(3), pages 290-311, September.
  22. Buddelmeyer, Hielke & Jensen, Paul H. & Oguzoglu, Umut & Webster, Elizabeth, 2008. "Fixed Effects Bias in Panel Data Estimators," IZA Discussion Papers 3487, Institute for the Study of Labor (IZA).
  23. Ioannis Giotopoulos & Georgios Fotopoulos, 2010. "Intra-Industry Growth Dynamics in the Greek Services Sector: Firm-Level Estimates for ICT-Producing, ICT-Using, and Non-ICT Industries," Review of Industrial Organization, Springer, vol. 36(1), pages 59-74, February.
  24. James Levinsohn & Amil Petrin, 2003. "Estimating Production Functions Using Inputs to Control for Unobservables," Review of Economic Studies, Oxford University Press, vol. 70(2), pages 317-341.
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