Enterprise Restructuring in Belarus

29 Pages Posted: 21 Jul 2006

See all articles by Marina Bakanova

Marina Bakanova

KU Leuven - Centre for Institutions and Economic Performance (LICOS)

Saul Estrin

Centre for Economic Policy Research (CEPR); London School of Economics & Political Science (LSE); IZA Institute of Labor Economics

Igor Pelipas

Independent

Sergej Pukovich

Belarusian State University - Institute for Privatization and Management - Research Center

Multiple version iconThere are 2 versions of this paper

Date Written: May 2006

Abstract

We explore the impact of privatization and the entry of new firms on enterprise performance in Belarus, a transition economy in which reform and market-orientated institutional development has been limited. We hypothesize that private ownership will enhance company performance, measured in a variety of ways including profitability and capacity to export to the West, and that newly created firms will perform better than state-owned ones. Our work is based on a large enterprise level survey which includes state-owned firms, privatized companies and newly created enterprises. The data refute both hypotheses. We conclude that this is probably because the institutional environment has not evolved sufficiently from the socialist era to permit free competition and effective governance by new owners.

Keywords: Enterprise restructuring, privatization, transition, Belarus

JEL Classification: L1, P2, P31

Suggested Citation

Bakanova, Marina and Estrin, Saul and Estrin, Saul and Pelipas, Igor and Pukovich, Sergej, Enterprise Restructuring in Belarus (May 2006). William Davidson Institute Working Paper No. 823, Available at SSRN: https://ssrn.com/abstract=918081 or http://dx.doi.org/10.2139/ssrn.918081

Marina Bakanova

KU Leuven - Centre for Institutions and Economic Performance (LICOS) ( email )

Waaistraat 6 - box 3511
Leuven, 3000
Belgium

Saul Estrin (Contact Author)

Centre for Economic Policy Research (CEPR)

London
United Kingdom

London School of Economics & Political Science (LSE) ( email )

Houghton Street
London, WC2A 2AE
United Kingdom

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

Igor Pelipas

Independent ( email )

Sergej Pukovich

Belarusian State University - Institute for Privatization and Management - Research Center ( email )

76 Zakharov St.
Minsk City, 220088
Belarus
+375 17 2852161 (Phone)
+375 17 2853771 (Fax)

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