Structural adjustment policies and productive efficiency of socialist enterprises

Prasnikar, Janez; Svejnar, Jan; Klinedinst, Mark

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.


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Also Published In

European Economic Review

More About This Work

Academic Units
International and Public Affairs
Published Here
July 12, 2016