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Why are socially beneficial reforms not implemented? One simple answer to this question (which has received little attention in the literature) is that this may be caused by generalised uncertainty about the effectiveness of reforms. If agents are unsure about whether a proposed reform will...
Persistent link: https://www.econbiz.de/10005652648
Countries making the transition to a market economy often experience an increase in corruption along with an increase …
Persistent link: https://www.econbiz.de/10005677510
Centrally planned economies tend to be less efficient than economies in which agents are free to choose their output targets, as well as the means to meet them. This paper presents a simple model of planner-manager interactions and shows how planned economies can end up in a low-effort,...
Persistent link: https://www.econbiz.de/10005489931
Exploiting a unique data set containing transactions data from a panel of 769 Chinese state-owned enterprises between 1980 and 1989, this paper tests microeconomic implications of a pervasive form of corruption --official diversion of under-priced, in-plan goods to the market. Corruption has the...
Persistent link: https://www.econbiz.de/10005677552
. These studies examine structural reforms carried out in 26 transition countries around the world. Our results show that an …
Persistent link: https://www.econbiz.de/10011161367
Relying upon a rich and unique panel of Hungarian firms over 7 years, from 1992 up to 1998, this paper estimates simultaneously TFP, Total Factor Productivity, identified as efficiency, and the parameters of a model where investment depends upon internal funds, wages, and sales, as in Prasnikar...
Persistent link: https://www.econbiz.de/10005651491
Working with 110 pairs of time series of state and market commodity prices in Russia, we search for signs of transition … reforms have generated tangible results: the transition to a market economy appears to be well underway. …
Persistent link: https://www.econbiz.de/10005652540
In this paper, we examine net investment during the early stages of transition using micro data on the population of …
Persistent link: https://www.econbiz.de/10005652659
The paper analyzes investment behavior of industrial enterprises in the period immediately following price and foreign trade liberalization in the Czech Republic. It also focuses on the effect of "soft" macroeconomic environment on the microeconomic decisions. A dynamic investment function with...
Persistent link: https://www.econbiz.de/10005677415
The paper explains why bank privatization in transition economies is frequently delayed in comparison to privatizing …
Persistent link: https://www.econbiz.de/10005677445