Abstract

http://ssrn.com/abstract=247230
 
 

Citations



 


 



The Effects of Privatization on Productive Efficiency: Evidence from the Baltic Republics


Derek C. Jones


Hamilton College - Economics Department

Niels Mygind


Copenhagen Business School - Center for East European Studies (CEES)


Annals of Public and Cooperative Economics, Vol. 71, No. 3, 2000

Abstract:     
By using new and unusual data sets for large samples of firms in Estonia, Latvia and Lithuania we find that, since privatization, diverse patterns of enterprise ownership have emerged and ownership configurations are quite dynamic. To test competing theories on the productivity effects of alternative ownership structures, identical cross sectional production functions specifications are estimated for each country for varying years during 1993-1996. While the effects of private ownership upon productivity are found to vary considerably over time and across countries, productivity effects are always found to be either zero or positive, thus providing partial support for the hypothesis that state ownership is less efficient than private ownership. Findings are mixed concerning hypotheses on the effects of particular ownership structures. Often (e.g. for Lithuania) estimates indicate that all forms of private ownership have zero productivity effects. However, some estimates for Estonia provide support for the mainstream hypothesis that outside (and especially foreign) ownership is preferred to insider ownership. But in other estimates (again for Estonia) majority ownership by employees is found to deliver better business performance than majority ownership by managers (thus refuting the hypothesis that the preferred form of insider ownership is ownership by managers).

Accepted Paper Series





Not Available For Download

Date posted: November 27, 2000  

Suggested Citation

Jones, Derek C. and Mygind, Niels, The Effects of Privatization on Productive Efficiency: Evidence from the Baltic Republics. Annals of Public and Cooperative Economics, Vol. 71, No. 3, 2000. Available at SSRN: http://ssrn.com/abstract=247230

Contact Information

Derek C. Jones (Contact Author)
Hamilton College - Economics Department ( email )
198 College Hill Road
Clinton, NY 13323
United States
315-859-4381 (Phone)
315-859-4477 (Fax)
Niels Mygind
Copenhagen Business School - Center for East European Studies (CEES) ( email )
Howitzvej 60
Frederiksberg, 2000
Denmark
(+45) 38 15 30 32 (Phone)
(+45) 38 15 30 37 (Fax)
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