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Author : Pohl
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)
Download or read book The Restructuring of Large Firms in Slovakia written by Pohl and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Simeon Djankov
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4./5 ( download)
Download or read book The Restructuring of Large Firms in Slovakia written by Simeon Djankov and published by World Bank Publications. This book was released on 1997 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gerhard Pohl
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (913 download)
Download or read book The Restructuring of Large Firms in Slovakia written by Gerhard Pohl and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: April 1997 Large industrial firms in Slovakia have restructured more rapidly than expected, including firms regarded as nonviable only a few years ago. Rapid privatization is an important determinant of successful restructuring. The method of privatization and the type of owner appear to play only a minor role. Evaluating the restructuring of large enterprises in transition economies is difficult because it is only one of many economic changes. Such evaluation is nevertheless essential for designing reform policies. Djankov and Pohl examine 21 case studies of Slovak firms based on detailed financial information for 1991-96, and interviews with top management. Much of their sample was firms initially classified as nonviable lossmakers. They found that the majority of large Slovak firms successfully restructured without the help of foreign investors or government restructuring programs. Privatization to insiders, through management-employee buyouts, did not hamper restructuring because the new owners (old managers) invested heavily in new technology, laid off a substantial part of the workforce, sought foreign partnerships, and were prepared to sell controlling stakes to outsiders in return for fresh financial resources. The evidence also suggests that mass privatization did not result in weak corporate governance because it was followed by a rapid consolidation of ownership. Their findings support the view that the main objective of privatization programs should be the speedy transformation of ownership, not the selection of perfect owners. Slovakia was an interesting choice for case-study analysis because much of the heavy industry and arms industry of former Czechoslovakia was located in Slovakia, so it inherited a relatively unattractive industrial structure. Slovakia also implemented two very different privatization programs, one of mass privatization and one of leveraged management buyouts or direct sales to (domestic) outside investors. This paper - a product of the Finance and Private Sector Development Division, Europe and Central Asia Technical Department - is part of a larger effort in the department to study the determinants of enterprise restructuring in transition economies.
Author : Gerhard Pohl
Publisher : World Bank Publications
ISBN 13 : 9780821337127
Total Pages : 64 pages
Book Rating : 4.3/5 (371 download)
Download or read book Restructuring Large Industrial Firms in Central and Eastern Europe written by Gerhard Pohl and published by World Bank Publications. This book was released on 1996-01-01 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report addresses the most important challenges facing the Latin America and Caribbean region as it attempts to replace its traditional economic and social structures, including populist institutions, with a modern, efficient, administrative state. The analysis focuses on the political economy of pending reforms and their ramifications. The report discusses (1) recent economic and political developments; (2) systemic issues such as high real interest and unemployment rates and declining export growth; (3) social policies and the need to consolidate macroeconomic stability; and (4) how to define and build the new Latin American state. An appendix provides detailed information on selected country performance.
Author : Sunita Kikeri
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4./5 ( download)
Download or read book Privatization in Competitive Sectors written by Sunita Kikeri and published by World Bank Publications. This book was released on 2002 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4./5 ( download)
Download or read book Private Ownership and Corporate Performance written by and published by World Bank Publications. This book was released on 1997 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The assumption behind privatisation in eastern Europe and elsewhere is that private ownership improves corporate performance. We focus on comparing the performance of state firms with either private or privatised firms operating under reasonably similar conditions in three countries of eastern Europe. We supplement this comparison by an examination of the relative performance of privatised and state firms in the period before the former were privatised. Our empirical results confirm the hypothesis that the effect of ownership change is particularly pronounced on the revenue side of corporate performance. In general, we find that firms with outsider owners significantly outperform the firms with insider owners on most performance measures, and that the employees are particularly ineffective owners (indeed less effective than the state). Subscribe to publications email alerts.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451835361
Total Pages : 120 pages
Book Rating : 4.4/5 (518 download)
Download or read book Slovak Republic written by International Monetary Fund and published by International Monetary Fund. This book was released on 1997-06-03 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews economic developments in Slovakia during 1995–96. Slovakia registered an impressive macroeconomic performance in 1995, among the best within the transition economies. Growth accelerated to 7.5 percent in 1995 from an already high rate of 5 percent in 1994, and inflation fell to 7 percent from about 12 percent in 1994. In addition, the current account of the balance of payments registered a surplus of about 2 percent of GDP. In 1996, output continued to grow at about 7 percent while inflation declined to 5.4 percent.
Author : S. Burki
Publisher : Springer
ISBN 13 : 0230522599
Total Pages : 244 pages
Book Rating : 4.2/5 (35 download)
Download or read book Transforming Socialist Economies written by S. Burki and published by Springer. This book was released on 2004-12-07 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transforming Socialist Economies: Lessons for Cuba and Beyond argues that countries with centrally-planned economies can pursue divergent paths towards market liberalization. The book reviews the reform processes of China, the Central Asian Republics, Eastern Europe, Russia, Vietnam, and the role of the international financial institutions, and draws lessons for Cuba, a country on the verge of wider economic transformation.
Author : OECD
Publisher : OECD Publishing
ISBN 13 : 926416748X
Total Pages : 152 pages
Book Rating : 4.2/5 (641 download)
Download or read book OECD Economic Surveys: Slovak Republic 1999 written by OECD and published by OECD Publishing. This book was released on 1999-03-02 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 1999 edition of OECD's periodic review of the Slovak economy examines recent economic developments, policies and prospects. It includes special features on the banking sector and on enterprise restructuring and development.
Author : John R. Nellis
Publisher : World Bank Publications
ISBN 13 : 9780821345030
Total Pages : 44 pages
Book Rating : 4.3/5 (45 download)
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.
Author : Mojmir Mrak
Publisher : World Bank Publications
ISBN 13 : 9780821357187
Total Pages : 506 pages
Book Rating : 4.3/5 (571 download)
Download or read book Slovenia written by Mojmir Mrak and published by World Bank Publications. This book was released on 2004-01-01 with total page 506 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thirteen years after independence from the former Socialist Republic of Yugoslavia, Slovenia has become one of the most advanced transition economies in Central and Eastern Europe and will become a member of the EU in May 2004. This publication examines the country's recent political and socio-economic history, its transition to a market economy and the challenges that lie ahead. It includes contributions from Slovenia's president, a former vice prime minister, the current and previous ministers of finance, the minister of European Affairs, the current and former governors of the Bank of Slovenia, as well as from leading development scholars in Slovenia and abroad.
Author : Kemal Dervis
Publisher : World Bank Publications
ISBN 13 : 9780821330661
Total Pages : 192 pages
Book Rating : 4.3/5 (36 download)
Download or read book Slovakia written by Kemal Dervis and published by World Bank Publications. This book was released on 1994-01-01 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Slovakia retained a tradition of macroeconomic prudence, low inflation, and modest debt after the break-up of Czechoslovakia. But it also inherited a legacy of weak banks, a large and inefficient system of social welfare, and an industrial system that did not use the concept of comparative advantage. Consequently, real incomes have plunged 24 percent since 1990. This study focuses on the nation's macroeconomic and structural reform issues during its transition to a market economy, reviewing the financial sector, private sector development, employment growth and labor markets, and social benefits. The report's recommendations fall into two broad categories: (1) facilitating resource reallocation through further privatization, increasing job mobility, and eliminating regulatory impediments to free enterprise; and (2) redefining the economic role of the government by reducing the fiscal deficit that discourages private activity, redirecting subsidies away from enterprises and toward public capital formation that fosters private investment, and providing more generous social benefits to the truly needy.
Author : Aymo Brunetti
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 84 pages
Book Rating : 4./5 ( download)
Download or read book Institutional Obstacles to Doing Business written by Aymo Brunetti and published by World Bank Publications. This book was released on 1997 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Bruno Dallago
Publisher : Routledge
ISBN 13 : 1317625234
Total Pages : 292 pages
Book Rating : 4.3/5 (176 download)
Download or read book Transformation and Crisis in Central and Eastern Europe written by Bruno Dallago and published by Routledge. This book was released on 2016-05-05 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis has provided an important opportunity to revisit debates about post-socialist transition and the relative success of different reform paths. Post-communist Central and Eastern Europe (CEECs) in particular show resilience in the wake of the international crisis with a diverse range of economic transformations. Transformation and Crisis in Central and Eastern Europe offers an in depth analysis of a diverse range of countries, including Poland, Hungary, Russia, Ukraine, Czech Republic and Slovakia. This volume assesses each country’s institutional transformations, geopolitical policies, and local adaptations that have led them down divergent post-communist paths. Chapters take the reader systematically through the evolution of former communist national economic systems, before ending with lessons and conclusions for the future. Subsequent chapters demonstrate that economic performance crucially depends on achieving a sustainable balance between sound institutional design and policies on one hand, and localization on the other. This new volume from a prestigious group of academics offers a fascinating and timely study which will be of interest to all scholars and policy makers with an interest in European Economics, Russian and East European Studies, Transition Economies, Political Economy and the post-2008 world more generally.
Author : Helena Tang
Publisher : World Bank Publications
ISBN 13 : 9780821348031
Total Pages : 76 pages
Book Rating : 4.3/5 (48 download)
Download or read book Progress Toward the Unification of Europe written by Helena Tang and published by World Bank Publications. This book was released on 2000-01-01 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ten countries of Central and Eastern Europe and the Baltic (CEECs) are candidates to join an enlarged European Union (EU) in the years to come. The ten are Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, the Slovak Republic and Slovenia. This enlargement will bring many opportunities to the both the EU and the candidate countries. For the EU it will bring enhanced weight and influence. For the candidate countries it should mean an improvement of their long term growth prospects by providing access to an open single market. The accession process is providing the impetus for the acceleration of much needed economic, political, institutional and social reforms in some of the CEECs as they strive to meet EU membership requirements. The key for the CEECs is to achieve sustained, high long-term growth in order to meet their ultimate objective of accession. The EU has already concluded agreements with the CEECs which went beyond the narrowly conceived ideas of market access to include the alignment of the CEEC economic system with that of the EU's. This report sets out the future agenda for the successful integration of the CEECs into an enlarged EU. The first priority is for each country to complete its own process of transition to a free market democratic state. In short this will mean that many will have to address: their fiscal challenges, and ensure fiscal sustainability; the challenge of global financial integration, opening of their capital accounts; the strengthening of their administrative capacity; the reduction of unemployment; and the promotion of social inclusion.
Author :
Publisher : Springer
ISBN 13 : 0230623964
Total Pages : 248 pages
Book Rating : 4.2/5 (36 download)
Download or read book Central and Eastern Europe written by and published by Springer. This book was released on 2009-09-28 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: The collapse of communism in 1989 paved the way for the reunification of the continent. This book analyzes the impact of the different dynamics of change since 1989 on public policy and on various economic and political sectors.
Author : Christiaan Grootaert
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 84 pages
Book Rating : 4./5 ( download)
Download or read book Poverty and Social Transfers in Hungary written by Christiaan Grootaert and published by World Bank Publications. This book was released on 1997 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
