Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/21183
Authors: 
Earle, John S.
Telegdy, Álmos
Year of Publication: 
2001
Series/Report no.: 
IZA Discussion paper series 326
Abstract: 
We construct and analyze a unique database with 1992-99 information on privatization transactions and labor productivity for the entire surviving population of initially state-owned industrial corporations in Romania. The data permit us to describe the post-privatization ownership structure and to test the effect of alternative privatization policies on firm performance in a panel framework. The results of OLS, LAD, and fixed-effects estimations consistently show a positive, highly significant effect of private ownership share on the level and growth of labor productivity, the estimates ranging from 13 to 32 log points for the level, and 9 to 16 for productivity growth. The strongest estimated impacts arise from sales to foreign and domestic blockholders, but insider and mass privatization are also estimated to have positive, although smaller, impacts on firm performance.
Subjects: 
Privatization
ownership
firm performance
restructuring
transition
Romania
JEL: 
P20
L32
G34
L33
G32
P31
Document Type: 
Working Paper

Files in This Item:
File
Size
215.08 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.