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on Confederation of Independent States |
| By: | Sylvain Rossiaud (LEPII - Laboratoire d'Économie de la Production et de l'Intégration Internationale - CNRS : UMR5252 - Université Pierre Mendès-France - Grenoble II); Catherine Locatelli (LEPII - Laboratoire d'Économie de la Production et de l'Intégration Internationale - CNRS : UMR5252 - Université Pierre Mendès-France - Grenoble II) |
| Abstract: | This article deals with the current change of the institutional and organizational framework of the Russian oil industry. Regarding this evolution, the main characteristic is the increasing involvement of national oil companies in the upstream activities. The point is to explain this reorganization by relying on the New Institutional Economics framework. These theoretical works highlight that institutional environment and governance structures complement each other. We argue that the current reorganization is an attempt to increase the coherence of the institutional arrangement governing the transaction between the Russian state and the private oil companies. |
| Keywords: | Russia ; oil industry ; institutional coherence |
| Date: | 2008–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-00321227_v1&r=cis |
| By: | Brown, J. David (Heriot-Watt University, Edinburgh); Earle, John S. (Upjohn Institute for Employment Research); Telegdy, Álmos (Hungarian Academy of Sciences) |
| Abstract: | We use longitudinal methods and universal panel data on 30,000 initially state-owned manufacturing firms in four transition economies to estimate the impacts of privatization on employment and wages. The results in all four countries consistently reject job losses and they never imply large wage cuts from privatization to either foreign or domestic owners. The domestic privatization estimates are close to zero for employment, while for wages they are negative but small in magnitude; estimated foreign privatization effects are nearly always positive and sometimes large for both outcome variables. We find that the negligible consequences of domestic privatization result from effects on scale, productivity, and costs that are large but offsetting in Hungary and Romania, and from small effects of all types in Russia and Ukraine. The positive employment outcome of foreign ownership results from a substantial scale-expansion effect that dominates the productivity-improvement effect, and the positive wage outcome from productivity improvement dominating the cost-reduction effect. |
| Keywords: | privatization, employment, wages, foreign ownership, Hungary, Romania, Russia, Ukraine |
| JEL: | D21 G34 J23 J31 L33 P31 |
| Date: | 2008–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp3688&r=cis |
| By: | Brown, J. David (Heriot-Watt University, Edinburgh); Earle, John S. (Upjohn Institute for Employment Research) |
| Abstract: | We analyze comprehensive manufacturing firm data to measure the contribution of inter-firm employment reallocation to aggregate productivity growth during the socialist and reform periods in six transition economies. Modifying a standard decomposition technique to better reflect the role of firm entry, we find that reallocation rates and productivity contributions are very low under socialism. After reforms, they rise dramatically, and productivity contributions greatly exceed those observed in market economies. Early in transition, faster reform is associated with larger contributions from reallocation, but later, and on average over the whole transition, this relationship is reversed. Though reallocation rates are larger in faster reforming economies, higher productivity dispersion in slower reformers creates much higher productivity gains for a given volume of reallocation. The results imply that reallocation should be viewed as necessary regular maintenance for a well-functioning economy, and particularly large productivity contributions tend to reflect previous neglect more than current virtue. |
| Keywords: | productivity, reallocation, industry dynamics, creative destruction, reform, transition, Georgia, Hungary, Lithuania, Romania, Russia, Ukraine |
| JEL: | E32 O47 P23 |
| Date: | 2008–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp3683&r=cis |