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privatization, with emphasis on Poland, Hungary, and Czechoslovakia. Progress in privatizing small firms has been rapid in several …Privatization of state assets is an essential step to the creation of a viable private sector in the formerly socialist … East European countries, but privatization of large firms has been slow, with most success to date in Hungary …
Persistent link: https://www.econbiz.de/10013247193
By the end of 1991, Czechoslovakia, Hungary and Poland have achieved a substantial degree of openness to foreign trade …-8 percent of GDP in Hungary and Czechoslovakia. Export performance is attributable to exchange-rate policy in part, but the …
Persistent link: https://www.econbiz.de/10013248111
Poland, Hungary. and Czechoslovakia and develop a model of changing support for reforms during the transition to a market … greatly. State-owned enterprises reduced employment even absent privatization, producing sizeable joblessness and eliminating … massive vacancies. The dispersion of wages increased substantially in Hungary and Poland though not in Czechoslovakia. My …
Persistent link: https://www.econbiz.de/10013220944
We have conducted the first survey on management practices in transition countries. We found that Central Asian transition countries, such as Uzbekistan and Kazakhstan, have on average very poor management practices. Their average scores are below emerging countries such as Brazil, China and...
Persistent link: https://www.econbiz.de/10013067648
The "loans for shares" scheme of 1995-6--in which a handful of well-connected businessmen bought stakes in major Russian companies--is widely considered a scandal that slowed subsequent Russian economic growth. Fifteen years later, I reexamine the details of the program. In light of evidence...
Persistent link: https://www.econbiz.de/10013146519
insufficient claims on state owned enterprises. The centralized privatization of state owned enterprises, which bypasses the East … German population, is seen as a major obstacle to quick recovery, and an alternative privatization procedure is discussed …
Persistent link: https://www.econbiz.de/10013230602
the market. In particular, we look at whether speed of privatization, legal institutions or initial conditions are more … endogeneity, confused issues of speed and level of privatization, and did not face up to the problems of multicollinearity. Our … results suggest that, contrary to the earlier literature, the speed of privatization is negatively associated with growth, but …
Persistent link: https://www.econbiz.de/10013234403
This paper analyzes the transition from the existing pay-as-you-go Social Security program to a system of funded Mandatory" Individual Retirement Accounts (MIRAs). Because of the high return on real capital relative to the very low return in a mature pay-as-you-go program, the benefits that can...
Persistent link: https://www.econbiz.de/10013210630
This paper discusses three policy tools to mitigate jobless recoveries during financial crises: inflation, real currency depreciation, and credit-recovery policies. Using a sample of financial crises in Emerging Market economies, we document that large inflationary spikes appear to help...
Persistent link: https://www.econbiz.de/10013072345
During the global financial crisis 2007-2009 fiscal policy was widely used as a stabilization tool. Policymakers allowed a large build-up of public debt resulting from both automatic and discretionary expansionary measures. At the same time, calls for policy coordination stressed that...
Persistent link: https://www.econbiz.de/10013091899