This paper examines the restructuring of state assets in markets deregulated by privatizations and investment … liberalizations. We show that the government has a stronger incentive to restructure than the buyer: A firm restructuring only takes … into account how much its own profit will increase. The government internalizes that restructuring increases the sales …

; neighborhood effect ; social interactions ; multiple equilibria ; network externality ; transition ; Russia …

During the transition from plan to market, managers and politicians succeeded in maintaining control of large parts of … ability to influence law enforcement. Our econometric results, for about 950 firms in five transition economies, provide … support for this argument. -- asset stripping ; law enforcement ; corruption ; transition …

entrepreneurs operating legal businesses in a transition context. Using regression techniques on a sample of 399 private business …

; network externality ; strategic complementarity ; transition ; Russia …

adjustments have become more sensitive to adjustment costs during the transition, but worker and manager ownership are associated …