Aghion, Philippe; Blanchard, Olivier J; Carlin, Wendy - C.E.P.R. Discussion Papers - 1994
the insiders has produced little restructuring while on the other, state-owned enterprises have engaged in some … restructuring even in the absence of a clear prospect of privatization. It situates enterprise restructuring at the heart of the … of the speed and depth of restructuring, and clarifies the roles of managers, employees, the state, and banks in bringing …