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Structural adjustment policies and productive efficiency of socialist enterprises

1992; Elsevier BV; Volume: 36; Issue: 1 Linguagem: Inglês

10.1016/0014-2921(92)90023-p

1873-572X

Janez Prašnikar, Jan Švejnar, Mark Klinedinst,

Global Trade and Competitiveness

The paper uses panel data from a five percent stratified random sample of Yu&av indusr-isl enterprises to test several hypotheses about the determinants of productive efficiency.The estimating procedure selects the production function best supported by the data and allows for industry-specilic production function parameters as well as from firm-specific lixed or random elTects.The instrumental variable estimates suggest that productive eficiency is unaffected by the four structu!al/policy variables whose effect we examine: the extent of export orientation.joint venture status, divisionalization of the firm, and the firm's market share.The ongoing economic reforms in Central/East Europe and the USSR have received major attention in the economic as well as popular press.While analysts differ in their assessment of the optimal.set and sequencing of reform measures, there is Me disagreement that improved enterprise