1,393 research outputs found
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Privatisation Methods and Economic Growth in Transition Economies
In low-income countries privatization, if implemented appropriately, may play an
important role in generating growth. Using data recently available from Central and
Eastern Europe, we therefore investigate the impact of alternative methods of
privatization on economic growth. Our analysis suggests that the use of conventional
privatization methods to match owners with firms can be inefficient in economies
with underdeveloped capital markets, particularly if wealth is poorly correlated with
managerial and entrepreneurial ability. In these circumstances mass privatization,
with firms being given away or sold at a nominal price, may be the appropriate policy
choice
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Corruption and bureaucratic structure in a developing economy
We address the impact of corruption in a developing economy in the context of an
empirically relevant hold-up problem - when a foreign firm sinks an investment to
provide infrastructure services. We focus on the structure of the economyâs
bureaucracy, which can be centralized or decentralized, and characterize the
âcorruptibilityâ of bureaucrats in each case. Results are explained in terms of the noninternalization,
under decentralization, of the âbribe externalityâ and the âprice
externality.â In welfare terms, decentralization is favoured, relatively speaking, if the
tax system is less inefficient, funding is less tight, bureaucrats are less venal, or
compensation for expropriation is ungenerous
Regulatory barriers and entry in developing economies
We model entry by entrepreneurs into new markets in developing economies with
regulatory barriers in the form of licence fees and bureaucratic delay. Because laissez
faire leads to âexcessiveâ entry, a licence fee can increase welfare by discouraging
entry. However, in the presence of a licence fee, bureaucratic delay creates a strategic
opportunity, which can result in both greater entry by first movers and a higher
steady-state number of firms. Delay also leads to speculation, with entrepreneurs
taking out licences to obtain the option of immediate entry if they later observe the
industry to be profitable enough
Privatisation versus Competition: Changing Enterprise Behavior in Russia
We investigate whether competitive forces and privatization have yet begun to play an efficiency-enhancing role in Russia. We also explore the economic effects of harder bidget constraints on enterprise behaviour. The empirical work is based on a large enterprise panel of Russian firms 1990-1994, representing around 10% of Russian manufacturing output. We conclude that privatization is having an impact on enterprise efficiency and restructuring but domestic market structure and harder budget constraints for the most part are not. Intriguingly, Russian firms are found to be sensitive to the degree of import penetration.
Better means more: property rights and high-growth aspiration entrepreneurship
This paper contrasts the determinants of entrepreneurial entry and high-growth aspiration entrepreneurship. Using the Global Entrepreneurship Monitor (GEM) surveys for 42 countries over the period 1998-2005, we analyse how institutional environment and entrepreneurial characteristics affect individual decisions to become entrepreneurs and aspirations to set up high-growth ventures. We find that institutions exert different effects on entrepreneurial entry and on the individual choice to launch high-growth aspiration projects. In particular, a strong property rights system is important for high-growth aspiration entrepreneurship, but has less pronounced effects for entrepreneurial entry. The availability of finance and the fiscal burden matter for both
Ownership Structures
In this paper, we analyse the effects of the massive Russian privatisation programme on the ownership of Russian firms and on the behaviour of formerly state owned enterprises. A large random sample of Russian firms is used to investigate the emerging ownership structures, patterns of control and enterprise behaviour. We find that workers have become the dominant owners in a majority ig Russian private firms; 65% of the total as against 19% being manager owned and 16% of being outsider owned. Higher- ownership appears to confer significantly more influence over decision-making on managers and outsiders, but not on workers. Most importantly however, we find no evidence that privatisation affects any major area of enterprise behaviour or performance.
MARKET REFORMS VERSUS STRUCTURAL REFORMS IN RURAL CHINA
This paper adds to the debate on the impact of market reforms versus structural reforms in explaining agricultural output growth in China. A multiple-output stochastic frontier and a technical inefficiency equation are estimated using provincial data on the rural economy from 1986 to 1995. Grain self-sufficiency policies and incomplete market reforms in the 1980s and 1990s led to allocative inefficiency. Agricultural disinvestment shrunk the production frontier and the fragmentation of land holdings reduced technical efficiency. China's rural economic reform is far from being complete.Agricultural and Food Policy, O47, Q12, Q15,
Thermal stability of the microstructure of severely deformed copper
Copper specimens were deformed by equal channel angular pressing (ECAP) up to 8 passes. The microstructure was studied by X-ray line profile analysis. The crystallite size is reduced to a few tens of nanometers even after the first ECAP pass and it does not change significantly during further deformation. At the same time, the dislocation density increases gradually up to 4 ECAP passes. The thermal stability of the microstructure is examined by differential scanning calorimetry (DSC). The temperature of the DSC peak decreases whereas the stored energy increases with increasing strain. At the beginning of the heat release a bimodal grain structure develops indicated by a special double-peak shape of the diffraction line profiles
Information Horizons in Networks
We investigate and quantify the interplay between topology and ability to
send specific signals in complex networks. We find that in a majority of
investigated real-world networks the ability to communicate is favored by the
network topology on small distances, but disfavored at larger distances. We
further discuss how the ability to locate specific nodes can be improved if
information associated to the overall traffic in the network is available.Comment: Submitted top PR
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