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The Effect of Ownership and Competitive Pressure on Firm Performance in Transition Countries: Micro Evidence from Bulgaria, Romania and Poland

This paper uses a unique representative firm level data set to analyse the effect of domestic and international competitive pressure and ownership changes in three emerging economies, Bulgaria Poland and Romania. Our main findings can be summarized as follows: Domestic competitive pressure, measured by market structure, and increased import penetration are associated with higher firm performance in Poland irrespective of the ownership structure of firms. Furthermore the positive effects of increased import competition are reinforced for foreign owned firms. In contrast, in Bulgaria and Romania, increased import penetration is associated with lower firm performance, while there is some evidence that more competitive market structures are associated with higher total factor productivity. However, these effects depend on the ownership structure of firms, which suggests the existence of complementarities between competitive pressure and ownership changes. The results also indicate that privatisation has positive effects on firm performance. In particular, domestic private firms and foreign owned firms outperform state owned firms. Furthermore, there is evidence that foreign owned firms do better than domestically owned private firms especially in Bulgaria and Poland. The results on ownership are somewhat weaker for Romania.http://deepblue.lib.umich.edu/bitstream/2027.42/39818/3/wp434.pd

Emergence of the Biosimilar Sector and Opportunities of Developing Country Suppliers

As biologic products begin to come off-patent, a market is emerging for biosimilars (also known as biogenerics or follow-on biologics). Firms from emerging countries such as India and China have dominated the production of active ingredients in pharmaceutical industries all over the world and are now developing capabilities in biosimilar production. This emergence of a new market dynamic is disruptive to current key players as it has potential challenge their current dominant hold over the market, while for firms from developing countries it creates a sea of opportunities. This rise of biosimilars and capabilities for cheap production in developing country firms has potential to transform patient care in developing countries as well as advanced countries. This paper reviews study data collected at Innogen and the most recent literature to understand how the sector for biosimilars is evolving and the opportunities and challenges faced by emerging suppliers. The aim of the paper is to identify the gaps in the current literature and opportunities for further study in this area

Too little destruction, too little creation: a Schumpeterian diagnosis of the barriers to sustained growth in Ukraine

This paper examines problems of entry, exit and competition in Ukrainian product markets. It finds that Ukraine still has too little of all three, and that exit mechanisms, in particular, function poorly. Since impediments to entry and exit are largely the product of excessive and ill administered regulation, the paper also provides a systematic assessment of product-market regulation in Ukraine, using indicators developed by the OECD Economics Department. Finally, the paper presents the main findings of two empirical studies concerned with the potentially large benefits of opening up markets, via both increased competition and further privatisation, for productivity growth in Ukraine. * * * * * Cet article examine les questions de concurrence, d’entrée et de sortie des entreprises sur le marché des biens. Il montre que toutes trois demeurent insuffisantes en Ukraine, et que les mécanismes de sortie du marché, en particulier, fonctionnent de manière très imparfaite. Compte tenu du fait que les barrières à l’entrée et à la sortie sont largement le produit d’une réglementation excessive et mal appliquée, l’article donne une évaluation systématique du niveau de réglementation du marché des biens en Ukraine, en utilisant les indicateurs développés par le Département des affaires économiques. Enfin, l’article expose les principaux résultats de deux études empiriques évaluant les effets bénéfiques sur la croissance de la productivité de l’ouverture des marchés, d’une part par un accroissement de la concurrence et d’autre part par la poursuite des privatisations

Incremental Reform and Distortions in China’s Product and Factor Markets

The purpose of economic reform is to reduce distortions and enhance efficiency. However, when reforms are partial and incremental, individuals and local governments are often able to capture the rent inherent in the gradual transition process. Young (2000) warned that such rent-seeking behavior might lead to increasing market fragmentation. Empirical studies have shown the opposite in the product market. This article argues that as the rent from China’s product market has been squeezed out due to deepening reforms, rent-seeking behavior may have shifted to the capital market. Further reforms are needed in the capital market to squeeze out these rent-seeking opportunities, just as those from the product and labor markets were squeezed out earlier.Market integration; China; rent seeking

Causes, Consequences, and Policy Responses to the Migration of Health Workers: Key Findings from India

Background: This study sought to better understand the drivers of skilled health professional migration, its consequences, and the various strategies countries have employed to mitigate its negative impacts. The study was conducted in four countries—Jamaica, India, the Philippines, and South Africa—that have historically been “sources” of health workers migrating to other countries. The aim of this paper is to present the findings from the Indian portion of the study. Methods: Data were collected using surveys of Indian generalist and specialist physicians, nurses, midwives, dentists, pharmacists, dieticians, and other allied health therapists. We also conducted structured interviews with key stakeholders representing government ministries, professional associations, regional health authorities, health care facilities, and educational institutions. Quantitative data were analyzed using descriptive statistics and regression models. Qualitative data were analyzed thematically. Results: Shortages of health workers are evident in certain parts of India and in certain specialty areas, but the degree and nature of such shortages are difficult to determine due to the lack of evidence and health information. The relationship of such shortages to international migration is not clear. Policy responses to health worker migration are also similarly embedded in wider processes aimed at health workforce management, but overall, there is no clear policy agenda to manage health worker migration. Decision-makers in India present conflicting options about the need or desirability of curtailing migration. Conclusions: Consequences of health work migration on the Indian health care system are not easily discernable from other compounding factors. Research suggests that shortages of skilled health workers in India must be examined in relation to domestic policies on training, recruitment, and retention rather than viewed as a direct consequence of the international migration of health workers

Competition and Firm Performance: Lessons from Russia

D24, D4, J42, L1, L33, P23, P31The "big-bang" liberalization of the inefficient Russian economy in 1992 provides a fruitful setting for analyzing the impact of several dimensions of market competition and other factors on enterprise efficiency. We analyze 1992-1998 panel data on 14,961 enterprises covering 75 percent of industrial employment, emphasizing the varied sources, geographic scope, intensity, time path, and survival effects of competitive pressures. We find large, positive effects on TFP from competition in domestic product and local labor markets, and from imports and better transportation infrastructure, although the first effect appears only gradually. Non-state firms outperform state enterprises, even after correction for selection bias.http://deepblue.lib.umich.edu/bitstream/2027.42/39680/3/wp296.pd

Cash Infusion Uncertainty: Hindrances to Northeast United States Small Business Owners Desiring Growth

This qualitative case study explored how cash infusion uncertainty impacted small business owners’ growth goals and strategies. Small business owners navigate varying business environments and use tactics or long-term strategies as they desire to grow. Scenario planning is a tool that entrepreneurs can use for understanding past events or trends to identify actions for managing uncertainties and turbulent business environments or capitalize on opportunities. Potential themes of this study’s research were the presence of cash infusion uncertainty for small business owners, that uncertainty hindered small business owners’ desired growth, and that strategic planning aided growth attainment. The interview data were analyzed using a progressive coding process within NVivo, a qualitative data analysis software. This study revealed that combinations of small business owners’ classifications and industry categories impacted their cash infusions, growth, and strategy setting. The study also revealed multiple and converging macroenvironmental factors, especially the 2020-2021 COVID-19 pandemic, affected small business owners’ uncertainties and growth. A prominent finding was that young entrepreneurs with newer businesses had more aggressive growth goals than their older counterparts with very mature businesses. Another finding was that certainty sometimes existed for entrepreneurs, and uncertain situations plagued small business owners. The findings pointed to entrepreneurs benefitting from applying scenario planning and strategic planning to maximize their success. Reflections included future cash infusion uncertainty and scenario planning research opportunities and a potential entrepreneurial venture

Relationship quality as the predictor of long term relationship in the Malaysian dairy industry

Dairy market in Malaysia has been increasing due to high income and population growth in the region. In response to the increasing demand, milk processors need to obtain constant milk supplies from the dairy farmers. One way of doing this is when the buyers and the sellers build and maintain quality relationships in order to enhance long term sustainability of the milk supply. This paper examines the determinants of relationship quality and its role in enhancing long term relationship between the Malaysian milk processors and dairy farmers. The study revealed that where as mutuality and price satisfaction influence the perceived relationship quality of the farmers positively; dependency and price flexibility do not. Furthermore, the perceived relationship quality of the farmers has a positive influence on long term orientation of the relationship.Long term relationships, Relationship Quality, Dairy Industry, Malaysia

The Effect of Ownership and Competitive Pressure on Firm Performance in Transition Countries: Micro Evidence from Bulgaria, Romania and Poland

This paper uses a unique representative firm level data set to analyse the effect of domestic and international competitive pressure and ownership changes in three emerging economies, Bulgaria Poland and Romania. Our main findings can be summarized as follows: Domestic competitive pressure, measured by market structure, and increased import penetration are associated with higher firm performance in Poland irrespective of the ownership structure of firms. Furthermore the positive effects of increased import competition are reinforced for foreign owned firms. In contrast, in Bulgaria and Romania, increased import penetration is associated with lower firm performance, while there is some evidence that more competitive market structures are associated with higher total factor productivity. However, these effects depend on the ownership structure of firms, which suggests the existence of complementarities between competitive pressure and ownership changes. The results also indicate that privatisation has positive effects on firm performance. In particular, domestic private firms and foreign owned firms outperform state owned firms. Furthermore, there is evidence that foreign owned firms do better than domestically owned private firms especially in Bulgaria and Poland. The results on ownership are somewhat weaker for Romania.competitive pressure, privatization, firm performance