Structural Adjustment Policies and Productive Efficiency of Socialist Enterprises

Document Type

Article

Publication Date

1-1-1992

Department

Political Science, International Development, and International Affairs

Abstract

The paper uses panel data from a five percent stratified random sample of Yugoslav industrial 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-specific production function parameters as well as from firm-specific fixed or random effects. The instrumental variable estimates suggest that productive efficiency is unaffected by the four structural/policy variables whose effect we examine: the extent of export orientation, joint venture status, divisionalization of the firm, and the firm's market share.

Publication Title

European Economic Review

Volume

36

Issue

1

First Page

179

Last Page

199

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