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Liberalization, Corporate Governance, and the Performance of Newly Privatized Firms

Boubakri, Narjess; Cosset, Jean-Claude; Guedhami, Omrance - William Davidson Institute, University of Michigan - 2001

This paper seeks to provide an answer to the following question, namely when and how does privatization work? Using a unique sample of 201 firms headquartered in 32 developing countries, we document a significant increase in profitability, efficiency, investment and output. Next, using...

Persistent link: https://www.econbiz.de/10005652594

Does Reform Work? An Econometric Examination of the Reform-Growth Puzzle

Babetskii, Ian; Campos, Nauro - William Davidson Institute, University of Michigan - 2006

Why are socially beneficial reforms not implemented? One simple answer to this question (which has received little attention in the literature) is that this may be caused by generalised uncertainty about the effectiveness of reforms. If agents are unsure about whether a proposed reform will...

Persistent link: https://www.econbiz.de/10005652648

Deindustrialisation and Structural Change During the Post-Communist Transition

Mickiewicz, Tomasz; Zalewska, Anna - William Davidson Institute, University of Michigan - 2001

The aim of this paper is to model the evolution of employment structure in post-communist economies in the broader context of deindustrialisation. The paper builds on the model of structural change developed by Rowthorn and Wells (1987). We show that the starting point of high industry sector...

Persistent link: https://www.econbiz.de/10005677406

CAPITAL ACCOUNT LIBERALIZATION AND EXCHANGE RATE REGIME CHOICE, WHAT SCOPE FOR FLEXIBILITY IN TUNISIA?

Sami, BEN ALI Mohamed - William Davidson Institute, University of Michigan - 2006

Capital account liberalization and exchange rate regime choice, what scope for flexibility in Tunisia? This study …. Simulations outcomes reveal that capital account liberalization in the Tunisian economic context is compatible with a flexible …

Persistent link: https://www.econbiz.de/10005784612

Economic Reform, Democracy and Growth During Post-Communist Transition

Fidrmuc, Jan - William Davidson Institute, University of Michigan - 2001

This paper explores interactions between growth, economic liberalization and democratization during transition. The … results can be summarized as follows: (1) Liberalization has a strong positive effect on growth during transition (also when … controlling for endogeneity of liberalization in growth). (2) Democracy facilitates economic liberalization. (3) Because of its …

Persistent link: https://www.econbiz.de/10005784759

International Coercion, Emulation and Policy Diffusion: Market-Oriented Infrastructure Reforms, 1977-1999

Henisz, Witold J.; Zelner, Bennet A.; Guillen, Mauro F. - William Davidson Institute, University of Michigan - 2004

Why do some countries adopt market-oriented reforms such as deregulation, privatization and liberalization of …

Persistent link: https://www.econbiz.de/10005784793

Explaining Postcommunist Economic Performance

King, Lawrence P. - William Davidson Institute, University of Michigan - 2003

and extensive price and trade liberalization, stringent monetary and fiscal stabilization, and the implementation of a …

Persistent link: https://www.econbiz.de/10005784804

Do Stock Markets Promote Economic Growth

Filer, Randall K.; Hanousek, Jan; Campos, Nauro F. - William Davidson Institute, University of Michigan - 1999

One of the most enduring debates in economics is whether financial development causes economic growth or whether it is a consequence of increased economic activity. Little research into this question, however has used a true causality framework. This paper fills this lacuna by using...

Persistent link: https://www.econbiz.de/10005677711

The Czech Crown's Volatility Under Modified Exchange Regimes

Kocenda, Evzen - William Davidson Institute, University of Michigan - 1997

Persistent link: https://www.econbiz.de/10005489874

Foreign News and Spillovers in Emerging European Stock Markets

Kocenda, Evzen; Hanousek, Jan - William Davidson Institute, University of Michigan - 2010

the volatility of the returns accounting for intraday movements and day-of-the-week effects. Our findings show that …

Persistent link: https://www.econbiz.de/10008606463