Politicians and Firms in Seven Central and Eastern European Countries

  title={Politicians and Firms in Seven Central and Eastern European Countries},
  author={Stijn Claessens and Simeon Djankov},
We test several propositions derived by Shleifer and Vishny (1994, 1996) about the effects of privatization and stabilization (hard budget constraints) on enterprise behavior. We document the changes in financing, employment, and operating efficiency that occur in over 6,300 manufacturing enterprises in seven Central and Eastern European countries (Bulgaria, Czech Republic, Hungary, Poland, Romania, Slovak Republic, Slovenia). We then compare the relative performance of privatized and still… CONTINUE READING
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