This study analyzes the dynamic effect of FDI on local firms’ productivity by relaxing the standard implicit assumption that technological spillovers are immediate and permanent. We find that the entry of majority foreign owned firms has a short run negative effect on the productivity of...

The abandonment of central planning led to considerable output declines in countries in the former soviet-bloc. The magnitude and length of the output declines, as well as recovery experiences have been very diverse. Various determinants of outpt growth have been identified in the literature....

The abandonment of central planning led to considerable output declines in countries of the former Soviet-bloc. The magnitude and length of the output declines, as well as recovery experiences have been very diverse. This paper describes and examines the impact of various determinants of output...