Enterprise Restructuring in Transition: A Quantitative Survey

Abstract

We survey the empirical literature analyzing the process of enterprise restructuring in transition economies. The survey provides new insights into the relative effectiveness of different reform policies, and into how this effectiveness varies across regions. We study the effects of privatization, the importance of different types of owners, the effects of foreign and domestic competition, the consequences of soft budgets, and the role of managerial incentives and managerial human capital, on enterprise restructuring.

Keywords: restructuring, transition, privatization, competition, soft budgets, managers, institutions

JEL Classification: P20, L1, L33, O12