Click here for search results
Enterprise restructuring in Eastern Europe : how much? how fast? where? - preliminary evidence from trade data, Volume 1
 
Author:Hoekman, Bernard; Pohl, Gerhard; Collection Title:Policy, Research working paper ; no. WPS 1433
Country:Europe and Central Asia; Date Stored:2001/04/20
Document Date:1995/03/31Document Type:Policy Research Working Paper
SubTopics:Environmental Economics & Policies; Economic Theory & Research; Agribusiness & Markets; Water and Industry; Trade Policy; Free TradeLanguage:English
Major Sector:(Historic)Private Sector DevelopmentRegion:Europe and Central Asia
Report Number:WPS1433Sub Sectors:Business Environment
Volume No:1  

Summary: What kind of privatization program is best suited to stimulate enterprise restructuring in former centrally planned economies? One view, expressed by most Western business and political leaders, is that privatization is best pursued case by case, with emphasis on sales to new owners, including foreign investors. Another view, espoused by a minority of "radical" economists and economists-turned-politicians, was that restructuring is best pursued through economic incentives, combined with "mass privatization of state enterprises so that they become widely held (public) joint stock corporations. The ultimate test, of course, is future productivity growth and rising welfare standards. We cannot yet measure these. The disaggregated data on production and employment by industry required for such a measure either are not available or are unreliable. The only objective measure available - comparable across countries - is export performance. Trade data reveal to what extent firms have been able to reorient themselves to create and exploit competitive advantages. We now have four years of data, enough to get an idea of what is going on, and to compare one Central or Eastern European country's performance against another's. The data suggest that the Czech Republic, the country that has pursued mass privatization most actively and credibly, has also done best in restructuring its industries and reorienting them toward world markets. Those that pursued a gradualist approach - Hungary being the main example - have changed their export structure less, but export growth has also been above average.

Official Documents
Official, scanned versions of documents (may include signatures, etc.)
File TypeDescriptionFile Size (mb)
PDF 30 pagesOfficial version*2.1 (approx.)
TextText version**
How To Order
Light-Weight Documents
Lighter (less MB) documents which may or may not be the final, official version
File TypeDescriptionFile Size (mb)
PDF 30 pagesWPS14331.66

* The official version is derived from scanning the final, paper copy of the document and is the official,
archived version including all signatures, charts, etc.
** The text version is the OCR text of the final scanned version and is not an accurate representation of the final text.
It is provided solely to benefit users with slow connectivity.



Permanent URL for this page: http://go.worldbank.org/2EWULJFVS0