Restructuring an Industry During Transition: A Two-Period Model
This paper develops the two-period model of enterprise shutdown during transition that was introduced in Ericson (1994). Its purpose is to provide a formal basis for the study of what Kornai (1994) has called the "transformation of the real structure of the economy" during the transition process. It focuses at the industry level of restructuring, taking a normative, industrial policy, perspective.
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