This paper, based on a large sample of mid-sized manufacturing firms in the Czech Republic, Hungary, and Poland, examines differences in the behavior of state and private companies in short-term credit markets in transition economies. The study offers three main conclusions. First, we find that...

This paper compares the performance of privatized and state firms in the transition economies of Central Europe, while controlling for various forms of selection bias. It argues that privatization has different effects depending on the types of owners to whom it gives control. In particular,...

Using a large sample of data on mid-sized firms in the Czech Republic, Hungary, and Poland, the authors compare the performance of privatized and state firms in the environment of the postcommunist transition. They find strong evidence that private ownership--except for worker ownership--...