Showing 1 - 10 of 109
Eastern Europe is engaged in a massive programme of financial reform. This paper argues that while this programme has many desirable features, it has failed to address some of the most basic issues. These concern the relationship between the financial system and the enterprise sector, and the...
Persistent link: https://www.econbiz.de/10005791741
This paper begins from the twin observation that on the one hand, privatization which leaves control in the hands of … restructuring even in the absence of a clear prospect of privatization. It situates enterprise restructuring at the heart of the …
Persistent link: https://www.econbiz.de/10005123917
some countries, restructuring is being undertaken by the state before privatization; in some, restructuring is delegated to … and private firms and the complementarity between the assets of state and firms. The slow pace of privatization is due to … privatization process in East Germany. It notes that five parties have been central to the reform process: the state, the …
Persistent link: https://www.econbiz.de/10005136772
This paper proposes a model to shed light on two important policy features of privatization in Central and Eastern … Europe: the idea of a necessary critical mass of privatization on the one hand, and the difficulties encountered in the … actual privatization process on the other, related to the government's inability to precommit to announced policies. The main …
Persistent link: https://www.econbiz.de/10005497782
This paper studies alternative methods of privatizing a formerly communist firm in the presence of imperfect risk markets. The methods include cash sales, a give-away scheme, and a participation contract where the government retains a sleeping fractional ownership in the firm. It is shown that...
Persistent link: https://www.econbiz.de/10005497803
experience of Hungary, Poland and Czechoslovakia in these areas, and reviews in detail their privatization plans for the three … extremely rapid rate of ownership change. While all countries will use a mixture of privatization methods, Hungary intends to … practice requires some important institutional developments such as the creation of Privatization Funds (as suggested in Poland …
Persistent link: https://www.econbiz.de/10005281407
privatization on airport charges in a panel data setting where fixed effects can be employed to mitigate endogeneity concerns. Our …
Persistent link: https://www.econbiz.de/10009351519
This paper offers a unique quantitative evaluation of the distribution of the welfare of a water privatization … intermediate suppliers and investors have also clearly benefited during the short privatization duration. However the paper also …
Persistent link: https://www.econbiz.de/10009399719
examines the impact of the privatization of kibbutzim on fertility behavior among members. We find that fertility declined by 6 …-15 percent following the shift to privatization. In light of the massive change in financial costs associated with childbearing … due to privatization, our results suggest that financial considerations may be a more modest factor in fertility decisions …
Persistent link: https://www.econbiz.de/10009367434
This paper interprets the existing evidence on enterprise restructuring in Poland, Hungary and the Czech Republic. Despite differences in restructuring policies, the pattern of observed restructuring appears similar in the three countries. Contrary to initial expectations, managers of SOEs have...
Persistent link: https://www.econbiz.de/10005662184