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Debt as a (credible) collusive device

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Dynamics of technical efficiency and productivity change under central planning : the Romainian cement industry 1966 - 1989

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This paper investigates the time-path of efficiency and productivity change in the case of the Romanian cement industry 1966-1989. The analysis is based on different specifications of stochastic frontier models. The efficiency scores and the time paths of efficiency and technical change are...

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