This volume is a collection of articles reprinted from top refereed journals and contains the most influential scholarly papers published by CERGE-EI faculty over the past 20 years. An introduction is by Lubomír Lízal, Associate Professor with Tenure at CERGE-EI and member of the Board of the...

We analyze the effect of ownership on post-privatization performance in a virtually complete population of medium and large firms privatized in a model large-scale privatization economy (Czech Republic). We find that concentrated foreign ownership improves economic performance, but domestic...

A fundamental question in economics since the 1930s has been whether an administrative price system could simulate the results of perfect competition even without a true market for the means of production. The theoretical possibility of such a system has been known since the introduction of...

We analyze the effects of different types and concentration of ownership on performance using a population of firms in a model transition economy after mass privatization. Specifications based on first-differences and unusual instrumental variables show that contrary to conventional wisdom, the...