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Competition and Corporate Governance in Transition

  • Saul Estrin
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    This paper examines the elements of institutional development critical to the enhancement of company performance in transition economies. This includes initial conditions, forms of privatization, institutional frameworks and the competitiveness of markets. Comparing empirical evidence, this paper concludes that there is a clear distinction in effectiveness of policies followed and their impact between Central Europe and CIS countries. This divergence is attributed to fundamentally different political attitudes toward reform, the need of CIS governments to gain political support for reform and as a consequence of the desire of Central European countries to join European Union.

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    Paper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number 431.

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    Length: pages
    Date of creation: 01 Dec 2001
    Date of revision:
    Handle: RePEc:wdi:papers:2001-431
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    1. Kattuman, Paul A & Newbery, David M G, 1992. "Market Concentration and Competition in Eastern Europe," CEPR Discussion Papers 664, C.E.P.R. Discussion Papers.
    2. Buck, Trevor & Filatotchev, Igor & Wright, Mike & Zhukov, Vladimir, 1999. "Corporate Governance and Employee Ownership in an Economic Crisis: Enterprise Strategies in the Former USSR," Journal of Comparative Economics, Elsevier, vol. 27(3), pages 459-474, September.
    3. Blanchard, O & Kremer, M, 1996. "Disorganization," Working papers 96-30, Massachusetts Institute of Technology (MIT), Department of Economics.
    4. Simeon Djankov & Rafael LaPorta & Florencio Lopez-de-Silanes & Andrei Shleifer, . "The Regulation of Entry," Working Paper 19462, Harvard University OpenScholar.
    5. Wendy Carlin & Micheal Landesmann, 1998. "From Theory into Practice? Restructuring and Dynamism in Transition Economies," William Davidson Institute Working Papers Series 155, William Davidson Institute at the University of Michigan.
    6. Roman Frydman & Cheryl Gray & Marek Hessel & Andrzej Rapaczynski, 1999. "When Does Privatization Work? The Impact Of Private Ownership On Corporate Performance In The Transition Economies," The Quarterly Journal of Economics, MIT Press, vol. 114(4), pages 1153-1191, November.
    7. Nicolas Barberis & Maxin Boycho & Andrei Shleifer & Natalia Tsukanova, 1995. "How Does Privatization Work? Evidence from the Russian Shops," Harvard Institute of Economic Research Working Papers 1721, Harvard - Institute of Economic Research.
    8. McDonald, Ian M & Solow, Robert M, 1985. "Wages and Employment in a Segmented Labor Market," The Quarterly Journal of Economics, MIT Press, vol. 100(4), pages 1115-41, November.
    9. Claessens, Stijn & Djankov, Simeon, 1999. "Ownership Concentration and Corporate Performance in the Czech Republic," CEPR Discussion Papers 2145, C.E.P.R. Discussion Papers.
    10. Marek Dabrowski & Stanislaw Gomulka & Jacek Rostowski, 2001. "Whence reform? A critique of the stiglitz perspective," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 4(4), pages 291-324.
    11. Djankov, Simeon & Murrell, Peter, 2002. "Enterprise Restructuring in Transition: A Quantitative Survey," CEPR Discussion Papers 3319, C.E.P.R. Discussion Papers.
    12. Schaffer, Mark E., 1998. "Do Firms in Transition Economies Have Soft Budget Constraints? A Reconsideration of Concepts and Evidence," Journal of Comparative Economics, Elsevier, vol. 26(1), pages 80-103, March.
    13. J. Earle & S. Estrin & L. Leshchenko, 1996. "Ownership structures, patterns of control and enterprise behavior in Russia," LSE Research Online Documents on Economics 20642, London School of Economics and Political Science, LSE Library.
    14. Estrin, Saul & Perotin, Virginie, 1991. "Does ownership always matter?," International Journal of Industrial Organization, Elsevier, vol. 9(1), pages 55-72, March.
    15. Nickell, S.J., 1993. "Competition and Crporate Performance," Economics Series Working Papers 99155, University of Oxford, Department of Economics.
    16. Derek C Jones, 1998. "The Economic Effects of Privatization: Evidence from a Russian Panel," Comparative Economic Studies, Palgrave Macmillan, vol. 40(2), pages 75-102, July.
    17. Brown, J David & Earle, John S, 2001. "Privatization, Competition and Reform Strategies: Theory and Evidence from Russian Enterprise Panel Data," CEPR Discussion Papers 2758, C.E.P.R. Discussion Papers.
    18. Angelucci, Manuela & Bevan, Alan & Estrin, Saul & Fennema, Julian A & Kuznetsov, Boris & Mangiarotti, Giovanni & Schaffer, Mark E, 2002. "The Determinants of Privatized Enterprise Performance in Russia," CEPR Discussion Papers 3193, C.E.P.R. Discussion Papers.
    19. Mike Wright & Trevor Buck & Igor Filatotchev, 1998. "Bank and investment fund monitoring of privatized firms in Russia," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 6(2), pages 361-387, November.
    20. Boycko, Maxim & Shleifer, Andrei & Vishny, Robert W., 1997. "Privatizing Russia," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262522284, June.
    21. Pinto, Brian & Belka, Marek & Krajewski, Stefan, 1993. "Transforming state enterprises in Poland : macroeconomic evidence on adjustment," Policy Research Working Paper Series 1101, The World Bank.
    22. Estrin, Saul & Rosevear, Adam, 1999. "Enterprise Performance and Corporate Governance in Ukraine," Journal of Comparative Economics, Elsevier, vol. 27(3), pages 442-458, September.
    23. Andrzej Bratkowski & Irena Grosfeld & Jacek Rostowski, 1999. "Investment and Finance in De Novo Private Firms: Empiracal Results from the Czech Republic, Hungary and Poland," William Davidson Institute Working Papers Series 236, William Davidson Institute at the University of Michigan.
    24. Estrin, Saul & Wright, Mike, 1999. "Corporate Governance in the Former Soviet Union: An Overview," Journal of Comparative Economics, Elsevier, vol. 27(3), pages 398-421, September.
    25. Bratkowski, A. & Grosfeld, I. & Rostowski, J., 1998. "Investment and Finance in De Novo Private Firms: Empirical Results form the Czech Republic, Hungary and Poland," DELTA Working Papers 98-19, DELTA (Ecole normale supérieure).
    26. Bennett, John & Estrin, Saul & Maw, James, 2001. "Mass Privatisation and Partial State Ownership of Firms in Transition Economics," CEPR Discussion Papers 2895, C.E.P.R. Discussion Papers.
    27. John S. Earle & Saul Estrin, . "Privatization, Competition, and Budget Constraints: Disciplining Enterprises in Russia," Upjohn Working Papers and Journal Articles jse20032, W.E. Upjohn Institute for Employment Research.
    28. Simon Johnson & Daniel Kaufman & Andrei Shleifer, 1997. "The Unofficial Economy in Transition," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 28(2), pages 159-240.
    29. J Earle & S Estrin & L Leshchenko, 1996. "Ownership Structures," CEP Discussion Papers dp0315, Centre for Economic Performance, LSE.
    30. Earle, John S & Estrin, Saul, 1997. "After Voucher Privatization: The Structure of Corporate Ownership in Russian Manufacturing Industry," CEPR Discussion Papers 1736, C.E.P.R. Discussion Papers.
    31. Blanchflower, David G. & Oswald, Andrew & Stutzer, Alois, 2001. "Latent entrepreneurship across nations," European Economic Review, Elsevier, vol. 45(4-6), pages 680-691, May.
    32. Trevor Buck & Igor Filatotchev & Mike Wright & Yves van Frausum, 1996. "The Process and Impact of Privatization in Russia and Ukraine," Comparative Economic Studies, Palgrave Macmillan, vol. 38(2-3), pages 45-69, September.
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