Arbeitspapier

Political Objectives and Privatization Decisions - Selection of Firms into Privatization or Long-Term State Ownership in Romania

With the help of a peculiar institutional feature of early Romanian privatization, when a group of firms was explicitly banned to become private, we test which factors contributed to the selection of firms into long-term state ownership. We find that politicians sheltered large and inefficient firms from privatization, which paid low wages and had high overdue payments. These results are consistent with minimization of employment losses, even if efficiency enhancement of privatization or revenue maximization had to be sacrificed. We hypothesize that this behavior was induced by the unfavorable economic conditions in Romania which brought about large employment losses during the first several years of economic transition.

ISBN
978-963-9796-85-0
Sprache
Englisch

Erschienen in
Series: IEHAS Discussion Papers ; No. MT-DP - 2009/26

Klassifikation
Wirtschaft
Comparison of Public and Private Enterprises and Nonprofit Institutions; Privatization; Contracting Out
Socialist Systems and Transitional Economies: Political Economy; Property Rights
Thema
privatization
government objectives
Romania
Privatisierung
Politisches Ziel
Öffentliches Unternehmen
Rumänien

Ereignis
Geistige Schöpfung
(wer)
Szentpéteri, Ádám
Telegdy, Álmos
Ereignis
Veröffentlichung
(wer)
Hungarian Academy of Sciences, Institute of Economics
(wo)
Budapest
(wann)
2009

Handle
Letzte Aktualisierung
10.03.2025, 11:41 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Szentpéteri, Ádám
  • Telegdy, Álmos
  • Hungarian Academy of Sciences, Institute of Economics

Entstanden

  • 2009

Ähnliche Objekte (12)