Halpern, László; Kõrösi, Gábor - William Davidson Institute, University of Michigan - 2003
ITransition started by a sudden collapse of corporate efficiency, as one important element of the transformational … recession. It was followed by a consolidation period, with rapidly increasing efficiency and improving returns to scale. During … translated into economic growth. This consolidation period ended in 1995-6, after that mean firm level efficiency only changed …