565 research outputs found
Foreign Investment, Corporate Ownership, and Development:Are Firms in Emerging Markets Catching Up to the World Standard?
No full textEconomic development implies that the efficiency of firms in developing countries is approaching that of firms in advanced economies. We examine the extent of this convergence in the Czech Republic and Russia, economies that represent alternative models of implementing development policies, often referred to as the Washington Consensus, that have promoted privatization, competition and foreign investment. We also test hypotheses positing that only firms near the efficiency frontier benefit from these policies and catch up. Using 1992-2000 panel data on virtually all industrial firms in each country, we find that privatization to domestic owners did not markedly improve the efficiency of firms; domestic firms are not catching up to the (world) efficiency standard given by foreign-owned firms; and the distance of the Russian firms to the efficiency frontier is much larger than that of the Czech firms and continued to grow for most firms beyond 1997 while remaining constant in the Czech Republic. Domestic firms closer to the frontier are not more likely to catch up than firms further from the frontier although foreign firms do exhibit this behavior. Foreign-owned firms are increasingly displacing domestic firms in the top deciles of the overall distribution of efficiency, due in part to slower “learning” by domestic firms, higher efficiency of foreign startups, and foreigners’ acquisitions of more efficient domestic firms. The two alternative implementations of the Washington Consensus policies have thus not enabled domestic firms to start catching up to the world standard.efficiency, productivity, economic development, foreign direct investment, ownership, convergence, frontier, Czech Republic, Russia, Washington Consensus.
Workers’ participation in a former labour-managed economy: The case of Serbian transition
No full textIt is well known that Serbia - along with the other Southeast European
successor states of former Yugoslavia - emerged from a country recognized for
its specific labour-managed institutional arrangement. The paper recalls the
main premises of the literature on the labour-managed firm and the
theoretical contributions on participatory forms of management that seem most
relevant to a transition economy like Serbia’s. It proceeds to analyze the
main changes that occurred in Serbia during transition to a market economy,
illustrating some of its specific features and how privatization led to the
conversion of workers self-management into property rights. In order to
analyze the role of employees in decisionmaking, and more generally their
current position in privatized and newly established private firms, a survey
was undertaken in 2013 based on a questionnaire for managers in 69 Serbian
firms. The survey suggests that internal relations in enterprises are
relatively undeveloped, particularly regarding the distribution of
responsibilities in decision making at various organisational levels,
hampering the efficient fulfilment of firms’ objectives. It appears that
decision-making processes are usually designed in such a way as to give an
excessive role to the owner as the exclusive decision-maker. The position of
workers seems to be particularly poor regarding their rights to be informed,
to make proposals, and/or to participate in decision-making in general.
Moreover, even traditional workers’ rights are neglected (unionization,
collective bargaining etc.). The survey also suggests that in those firms
with a more active role of workers, there is a higher degree of workers’
satisfaction and loyalty to the firm
Corrupção e o escândalo da Lava Jato na América Latina
No full textRevised and updated edition in Portuguese of Corruption and the Lava Jato Scandal in Latin America, initially launched in English by Routledge (2020). The book brings together key international and interdisciplinary perspectives to shine new light on Lava Jato, or Operation Car Wash, Latin America’s largest corruption scandal to date. Across 15 chapters by leading and emerging scholars and practitioners, this book engages with relevant topics including the role of the media in covering corruption scandals; contrasting responses to Lava Jato; the policy reforms needed to avoid a similar scandal in the future; and the roadmap for how Lava Jato should end, along with interviews with key stakeholders on both sides of the case
Globalization and innovation in emerging markets
No full textGlobalization brings opportunities and pressures for domestic firms in emerging markets to innovate and improve their competitive position. Using data on firms in 27 transition economies, the authors test for the effects of globalization through the impact of increased competition and foreign direct investment on domestic firms'efforts to innovate (raise their capability) by upgrading their technology, improving the quality of their product or service, or acquiring certification. They find that competition has a negative effect on innovation, especially for firms further from the efficiency frontier, and we do not find support for an inverted U effect of competition on innovation. The authors show that the supply chain of multinational enterprises and international trade are important channels for domestic firms'innovation. They detect no evidence that firms in a more pro-business environment are more likely to display a positive or inverted U relationship between competition and innovation, or that they are more sensitive to foreign presence.E-Business,Education for Development (superceded),Microfinance,Labor Policies,Emerging Markets
Objectives and Constraints of Entrepreneurs: Evidence from Small and Medium Size Enterprises in Russia and Bulgaria
No full textWe analyze the principal objectives and constraints of small and medium enterprises (SMEs), using data from a survey of 437 owners and top managers (CEOs) of SMEs in Russia and Bulgaria. The CEOs display similar views and identify a small number of specific constraints as being the most important ones. The constraint on external financing is a particularly serious one and the SMEs use internal finance as a fall-back option. Our econometric analysis indicates that characteristics of the entrepreneur, firm and the firm's environment are important but varying determinants of which constraints are identified as the most important ones. Our results also suggest that the nature of disruption of production and of the financial constraints after the fall of central planning was more ubiquitous and all-encompassing in Russia than in Bulgaria.
Introdução
No full textEsta publicação usa o tempo a seu favor para oferecer uma visão crítica e abordar diferentes perspectivas de uma operação que não é unânime na sociedade, mas cuja relevância não pode ser ignorada. É com esse propósito que o livro combina artigos de jovens acadêmicos, analistas
e jornalistas com artigos de professores experientes, que têm se dedicado a estudar o Brasil e a corrupção em geral. O livro traz ainda entrevistas com três dos principais personagens da operação que entrou para a história do Brasil e de outros países. São eles: o ex-juiz e ex-ministro da Justiça do governo de Jair Bolsonaro, Sergio Moro, principal responsável pelo julgamento e condenação de acusados da Lava Jato, entre eles o ex-presidente Luiz Inácio Lula da Silva; o procurador federal Deltan Dallagnol, que che$ou a força-tarefa da Lava Jato até agosto de 2020; e o advogado e jornalista norte-americano Glenn Greenwald, residente no Brasil e cofundador do !e Intercept Brasil, site que revelou as mensagens que levaram muita gente a questionar a imparcialidade de Moro e o tipo de con-
tato e de troca de informações entre integrantes da força-tarefa e o então juiz. O leitor vai encontrar distintos pontos de vista que ajudam a compreender o momento que vivenciamos hoje e a forma como a corrupção é enfrentada no Brasil e em outros países da América Latina a partir de discussões e reflexões sobre a Lava Jato. A começar por esta introdução, que oferece contexto e informações que consideramos úteis tanto para iniciados quanto para iniciantes em estudos sobre corrupção e interessados nos escândalos e na operação
Globalization and innovation in emerging markets
No full textGlobalization brings opportunities and pressures for domestic firms in emerging markets to innovate and improve their competitive position. Using data on firms in 27 emerging market economies, we estimate the effects of foreign competition, vertical linkages with foreign firms, and international trade on several types of innovation by domestic firms. Using instrumental variables and a battery of checks, we provide robust evidence of a positive relationship between foreign competition and innovation and show that the supply chain of multinational enterprises and international trade are also important channels. There is no evidence for an inverted U relationship between innovation and foreign competition. The relationship between globalization and innovation does not differ across the manufacturing and service sectors.
Globalization and Innovation in Emerging Markets
No full textGlobalization brings opportunities and pressures for domestic firms in emerging markets to innovate and improve their competitive position. Using data on firms in 27 transition economies, we test for the effects of globalization through the impact of increased competition and foreign direct investment on domestic firms' efforts to raise their capability (innovate) by upgrading their technology or the quality of their product/service, taking into account firm heterogeneity. We find competition has a negative effect on innovation, especially for firms further from the frontier, and that the supply chain of multinational enterprises and international trade are important channels for domestic firm innovation. We do not find support for the inverted U effect of competition on innovation. There is weak evidence that firms in a more pro-business environment invest more in innovation and are more likely to display the inverted U relationship between competition and innovation.emerging markets, globalization, innovation
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