Download or read book Enterprise Isolation Programs in Transition Economies written by Simeon Djankov and published by World Bank Publications. This book was released on 1998 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: I provide the first comprehensive analysis of isolation programs for financially distressed firms in transition economies. The study is based on empirical evidence from the Romanian program. The results indicate that the isolation program did not deliver any tangible improvements in operational performance, nor did it enhance the process of privatization or liquidation of large loss-making enterprises. I also show that firms included in the program faced softer budget constraints than their comparators outside the program. These findings question the feasibility of creating special programs for enterprise restructuring and privatization under government auspices.
Download or read book Enterprise Exit Processes in Transition Economies written by Leszek Balcerowicz and published by Central European University Press. This book was released on 1998-01-01 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume gathers together a collection of essays integrated by two central themes: the comparative economic performance of different economic systems (centralized socialism, reformed socialism, competitive socialism), and the transition from socialism to capitalism under newly established pluralistic political systems in Central and Eastern Europe. Most of the essays are based on the first-hand experience of the author in stabilizing an economy in an early stage of hyperinflation and in transforming it into a competitive capitalist market economy.
Download or read book Time to Rethink Privatization in Transition Economies written by John R. Nellis and published by World Bank Publications. This book was released on 1999-01-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: IFC Discussion Paper No. 38.QUOTEIt is now universally acknowledged that ownership matters; that private ownership in and of itself is a major determinant of good performance in firms... Decent economic policy and well-functioning legal and administrative institutions... matter greatly as well.QUOTEThis paper looks at what happens when the shift to private ownership gets far out in front of the effort to build the institutional underpinnings of a capitalist economy. The emphasis is on what went wrong and why and what, if anything, can be done to be correct it. Proposals include renationalization and/or postponement of further privatization, both to be accompanied by measures to strengthen the managerial capacities of the state. Neither approach seems likely to produce short-term improvements. The regrettable fact is that governments that botch privatization are equally likely to botch the management of state-owned firms. In a number of Central European transition countries, privatization is living up to expectations; and there is no need for such measures. For institutionally-weak countries, the less dramatic but reasonable short-term course of action is to push ahead more slowly with case- by-case and tender privatization in cooperation with the international assistance community in hopes of producing some success stories that will lead by example.
Download or read book Privatization in Transition Economies written by Ira W. Lieberman and published by Elsevier. This book was released on 2008 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation.
Download or read book The Enterprise Isolation Programme in Romania written by Simeon Djankov and published by . This book was released on 1999 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Determinants of Enterprise Restructuring in Transition written by Simeon Djankov and published by World Bank Publications. This book was released on 2000-01-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last decade, more than one hundred fifty thousand large enterprises in twenty seven transition countries have encountered revolutionary changes in every aspect of their political and economic environments. Some enterprises have responded to the challenge, entering world markets with great dynamism and becoming indistinguishable from their competitors in mature market economies. Others remain mired in their past, undergoing protracted deaths, delayed at times by their slippage into a netherworld of barter and ersatz money. Thus the revolutionary changes in transition countries have been matched by great variation in the degree to which enterprises have responded successfully to events. To assess the effectiveness of the different reform and privatization strategies, empirical research on transition countries has examined enterprise level data to ascertain whether enterprises have responded productively to changes in ownership and to other reform measures. This volume provides a general assessment of the evidence generated by these studies. In providing the assessment, it: discusses the general context of the studies; assesses the evidence on whether state-owned or privatized firms undertake more economic restructuring; studies the effects of restructuring on different types of owners; focuses on the role of managers; analyzes the effect of greater discipline in the government's reaction to enterprises in distress; examines how variations in product market competition affect enterprise restructuring; and examines the role of the institutional and legal framework. This publication will be of interest to policy makers and readers interested in gaining an overview of the current state of the evidence.
Download or read book A Decade of Transition written by Mr.Oleh Havrylyshyn and published by International Monetary Fund. This book was released on 2001-04-27 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume reviews the experience of 25 non-Asian transition economies 10 years into their transformation to market economies. The volume is based on an IMF conference held in February 1999 in Washington, D.C., to take stock of the achievements and the challenges of transition in the context of three questions: How far has transition progressed ineach country? What factors explain the differences in the progress made? And what remains to be done?
Download or read book Trade Policies and Incentives in Indian Agriculture written by Garry Pursell and published by World Bank Publications. This book was released on 1998 with total page 131 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper describes the methodology for a series of background papers that measure incentives in India's agriculture. The first study on sugarcane and sugar shows that the domestic market has been isolated from world markets by extensive controls, but between 1965 and 1995 there was a significant downward trend in the ratio of domestic to international sugar prices. This paper is the first in a series of studies to provide background data and protection and incentive indicators for 13 major Indian crops, which have been estimated in connection with extensive research on Indian agricultural incentives. The general methodology of the studies is described in the first section of the paper. The second section of the paper focuses on sugarcane and sugar. It shows that between 1965 and 1994 real domestic prices of sugar and cane were quite stable in India, declining an average of 0.6 percent (sugar) and 0.3 percent (cane) a year. During the same 29 years the free market price of sugar fluctuated widely (expressed in Indian rupees) but in real terms increased about 1.3 percent a year. This contrast in trends reflects the real devaluation of the rupee after 1986 but meant that by the early 1990s, at world sugar prices of US 13-15 cents a pound or higher, India's domestic prices were roughly equivalent to, or below, world reference prices. Because of the fluctuations in world free market prices, nominal protection of sugar and sugarcane production in India-as measured by differences between domestic prices and border reference prices-also fluctuated. Nominal protection was: * High during low world prices in the 1960s and the mid-1980s. * Negative when world prices were high in the mid-1970s and early 1980s. * Moderate to low by previous standards between 1989 and 1994. Incentives for cane production did not change much when allowance is made for the nominal protection of tradable inputs (principally fertilizers) or subsidies for the principal nontradable imports (canal irrigation, credit, and electricity for pumpsets). Incentives for cane production were somewhat higher in Uttar Pradesh than in Maharashtra and Tamil Nadu. Half of Indian cane production is used by artisanal producers of gur and small-scale de facto unregulated producers of khandsari sugar. Because of India's complex regulatory system-especially in the important sugar-producing state, Uttar Pradesh-incentives are significantly higher for unregulated activities than for the modern sugar mill sector. Regulations subject sugar mills to controls that require them to: * Sell specific quantities of their sugar production at low levy prices. * Sell molasses production at a fraction (0.1 or less) of open market and border prices. * Pay minimum prices (for specific quantities of cane) at above-free-market prices, except in years of cane shortages. This paper is a product of Trade, Development Research Group. Garry Pursell may be contacted at [email protected].
Download or read book Protecting the Environment and the Poor written by Gunnar S. Eskeland and published by World Bank Publications. This book was released on 1998 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The enterprise isolation program in Russia written by Simeon Djankov and published by . This book was released on 1999 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economic Analysis of Sector Investment Programs written by Sēttaphut Sutthiwātnarưphut and published by World Bank Publications. This book was released on 1998 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Public Versus Private Ownership written by Mary M. Shirley and published by World Bank Publications. This book was released on 2000 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Disappointment with insider trading in Russia, with voucher privatization in the Czech Republic, and with the privatization of infrastructure in many developing countries in many developing countries has spawned new critiques of privatization. How do theory and empirical evidence answer the much-debated questions, which is more important to performance, competition or private ownership? Are state enterprises more subject to welfare-reducing interventions by government than private firms are? Do state enterprises suffer more from problems of corporate governance?
Download or read book Government led Industrial Restructuring in Transition Economics written by Günseli Baygan and published by . This book was released on 2005 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Future of State Owned Financial Institutions written by Gerard Caprio and published by Rowman & Littlefield. This book was released on 2010-12-01 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research suggests that if the majority of a country's financial institutions are owned by the state, that country will experience slower financial development, less efficient financial systems, less private sector credit, and slower GDP growth. Yet more than 40 percent of the world's population live in countries in which public sector institutions dominate the banking system. In The Role of State-Owned Financial Institutions: Policy and Practice noted experts discuss the challenges presented by state-owned financial institutions and offer cross-disciplinary solutions for policymakers and banking regulators. The issues include: methods for effectively managing, reforming, and privatizing state-owned banks; the fiscal costs and contingent liabilities of state-owned banks; macroeconomic implications and the impact of state-owned banking on access to credit in an economy; guidance for effective supervision of state-owned banks; managerial perspectives on improving products, human resources, and risk; management case studies of different methods of privatization, such as initial public offerings, employee stock ownership plans, and strategic investors Contributors include David Binns (Beyster Institute), Robert Cull (World Bank), Ron Gilbert (ESOP Services), James A. Hanson (World Bank), Richard Hemming (International Monetary Fund), Fred Huibers (ING Research), Arminio Fraga (formerly Central Bank of Brazil), Nicholas Lardy (Institute for International Economics), David Marston (International Monetary Fund), Moody's Global Investor Service, Herman Mulder (ABN-Amro), William Nichol (Deutsche Bank AG), Urjit Patel (Infrastructure Development Finance Company, India), and P. S. Srinivas (World Bank).
Download or read book Journal of Economic Literature written by and published by . This book was released on 2003 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book OECD Economic Surveys Romania 2002 written by OECD and published by OECD Publishing. This book was released on 2002-10-29 with total page 131 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2002 edition of OECD's Economic Survey of Romania examines recent economic developments, policies and prospects. It includes special features on co-ordination of reforms and exit and entry in the enterprise sector.
Download or read book Corporate Governance of Public Enterprises in Transitional Economies written by Dominique Pannier and published by World Bank Publications. This book was released on 1996-01-01 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: World Bank Technical Paper No. 323.Draws on the contrasting experiences of five large transitional economies--Hungary, Poland, Romania, Russia, and Ukraine--in the management and oversight of public enterprises. Relevant experiences of developed market economies are included.
