This chapter examines how the sanctions imposed on Russia after its 2022 invasion of Ukraine have impacted Russian firms, their direct investment abroad, and Hungarian business presence in Russia, and, in particular, how Russian and Hungarian firms have adjusted to this new reality. It...

Front cover -- Title page -- Copyright page -- Table of Contents -- List of Graphs -- List of Tables -- Acknowledgments -- Foreword and overview -- 1 Introduction -- 1.1 The background -- 1.2 (Another) delimitation of the subject -- 1.3 Managerial power and the bogey of spontaneous privatisation...

Transition has involved major job destruction and creation. This paper examines the skill content of these changes using a detailed three country firm survey. It shows that transition has exerted a strong bias against unskilled labour who have lost employment disproportionately. Moreover, job...

We use longitudinal methods and universal panel data on 30,000 initially state-owned manufacturing firms in four transition economies to estimate the impacts of privatization on employment and wages. The results in all four countries consistently reject job losses and they never imply large wage...

We analyze comprehensive manufacturing firm data to measure the contribution of inter-firm employment reallocation to aggregate productivity growth during the socialist and reform periods in six transition economies. Modifying a standard decomposition technique to better reflect the role of firm...

We analyze the effects of privatization on firm-level wages and employment in four transition economies. Contrary to workers' fears, our fixed effect and random trend estimates imply little effect of domestic privatization, except for a slight negative effect in Russia, and they provide some...

We analyze the impact of privatization on multifactor productivity (MFP) using long panel data for nearly the universe of initially stateowned manufacturing firms in four economies. Controlling for firm and industry-year fixed effects and employing a wide variety of measurement approaches, we...