Publications → Privatization and SME
- (20)Privatization Issues
- (17)Support to SME
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- Happy kids and mature losers: Differentiating the dominant logics of successful and unsuccessful firms in emerging markets
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June 17, 2008 15:30
With the onset of the cognitive revolution managerial sciences, there has been increasing interest in how top managers come to think and act strategically in response to ever changing environmental opportunities and constraints.
- Beginners guide for understanding SME credit analysis in FR Yugoslavia
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March 3, 2008 13:53
Despite what it sees as a lack of either information or transparency, this paper attempts to make an accurate assessment of the real state of the Yugoslavian economy. It deals with the non-recording of losses, the difficulty of credit analyses and company evaluation.
- On the privatization of “stolen goods” in Central and Eastern Europe
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March 3, 2008 13:50
Many scholars assert that the process of privatizing state-owned firms in Central and Eastern Europe has been a success because privatized firms are performing better than they did before.
- Privatization in Serbia: the second run
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March 3, 2008 13:49
The paper argues that the privatization policy of the Serbian government is generally well designed but nevertheless suffers from drawbacks that could undermine the policy’s successful implementation.
- Privatization policy in Serbia in 2003
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March 3, 2008 13:48
Two years after the privatization law has come into force and the process was launched, privatization in Serbia has yet to yield anticipated results. Private property is still not prevalent..
- The new model of privatisation in Serbia
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March 3, 2008 13:41
Every country going through the painful process of transitional change from one form of economic thinking (i.e. Communism to Capitalism) to another, has had to address the question of privatization. The authors argue that in the case of Serbia this has been handled very badly using a voucher and employee stockholding model.
- Regulatory barriers for SMEs in Belarus: The Role of Price Regulation
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January 18, 2008 16:44
This paper provides stance of the SME representatives on price regulation in Belarus, and includes some rough calculations of its costs for an average SME, and for the economy in general, as well as suggests several policy recommendations for the deregulation of prices.
- Public Private Partnership
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January 18, 2008 16:38
This paper aims at providing readers with some background information with regard to types and determinants of PPP, as well as lessons that can be drawn from United Kingdom, Central and Eastern Europe and the Russian experience.
- Practical Aspects of Establishing a Belarusian Guarantee Fund
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January 18, 2008 12:10
This paper deals with several practical questions that arise during the conceptual stages of establishing a Belarusian Guarantee Fund for loans to small enterprises (SEs). Also the paper analyzed the specific Belarusian conditions and found the approximate amount of guarantee capital needed to be about USD 5.8 m, which means that the amount of funding required from the government will be about USD 2.8 m.
- The vicious circles of control - regional governments and insiders in privatized Russian enterprises
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January 2, 2008 16:33
How can one account for the puzzling behavior of insider-managers who, in stripping assets from the very firms they own, appear to be stealing from one pocket to fill the other? The authors suggest that such asset-stripping and failure to restructure are the consequences of interactions between insiders (manager-owners) and regional governments in a particular property rights regime.
- Small and medium size enterprise financing in Eastern Europe
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December 3, 2007 17:24
There is currently a large interest in understanding firms' access to finance, particularly in the financing of small- and medium-size enterprises (SMEs). But the financing patterns of SMEs across countries is not well understood. For example, little is known about the relative importance of equity, debt, and inter-firm financing for SMEs across countries. The authors use the Amadeus database, which includes financial information on over 97,000 private and publicly traded firms in 15 Eastern and Central European countries.
- Is debt replacing equity in regulated privatized infrastructure in developing countries?
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December 3, 2007 17:00
The main purpose of this paper is to describe the evolution of the financing structure of regulated privatized utilities and transport companies. To do so, the authors rely on a sample of 121 utilities distributed over 16 countries, and 23 transport infrastructure operators and 23 transport services operators distributed over 23 countries. They show that leverage rates vary significantly across sectors, with the highest rates observed in transport and the lowest in water.
- The role of factoring for financing small and medium enterprises
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November 26, 2007 16:46
Empirical tests find that factoring is larger in countries with greater economic development and growth and developed credit information bureaus. The author finds that creditor rights are not related to factoring. The author also discusses reverse factoring, which is a technology that can mitigate the problem of borrowers' informational opacity in business environments with weak information infrastructures if only receivables from high-quality buyers are factored.
- A firm-level analysis of small and medium size enterprise financing in Poland
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November 26, 2007 16:44
The authors test competing theories of capital structure choices using firm-level data on firm borrowings. The majority of firms in the dataset are privately owned, young, micro or small and medium enterprise (SME) firms concentrated in the service sector.
- A more complete conceptual framework for financing of small and medium enterprises
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November 26, 2007 16:42
The authors propose a more complete conceptual framework for analysis of credit availability for small and medium enterprises (SMEs). In this framework, lending technologies are the key conduit through which government policies and national financial structures affect credit availability.
- Rental choice and housing policy realignment in transition : post-privatization challenges in the Europe and Central Asia region
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November 26, 2007 16:42
This study reviews the post-privatization rental housing challenges confronted by six transition countries in the Europe and Central Asia region: Armenia, Lithuania, Poland, Romania, Russia and Serbia. The common problem for policy makers across these countries is that housing privatizations decimated the stock of social housing, while the growing market-based housing production has been almost entirely focused on homeownership.
- Infrastructure and public utilities privatization in developing countries
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November 26, 2007 16:40
The paper analyzes governments' tradeoff between fiscal benefits and consumer surplus in privatization reforms of noncompetitive industries in developing countries. Under privatization, the control rights are transferred to private interests so that public subsidies decline.
- Private ownership and corporate performance: evidence from transition economies
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November 26, 2007 15:41
The assumption behind privatisation in eastern Europe and elsewhere is that private ownership improves corporate performance. The paper focuses on comparing the performance of state firms with either private or privatised firms operating under reasonably similar conditions in three countries of eastern Europe.
- Financing transition: investing in enterprises during macroeconomic transition
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November 26, 2007 15:40
This paper examines investment decisions and financing during the transition to a market economy, and the link between enterprise performance and macroeconomic conditions. A number of simulations are carried out on three stylised EBRD investments across three groups of countries in transition
- Entrepreneurs and the ordering of institutional reform: Poland, Romania, Russia, the Slovak Republic and Ukraine compared
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November 23, 2007 11:55
We use survey data to examine new firms in Poland, Romania, Russia, the Slovak Republic and Ukraine. By measures of job growth, security of property and market development, our countries fall into two groups: an advanced group of Poland, Romania and the Slovak Republic, with the Slovak Republic falling somewhat behind the other two; and a backward group of Russia and Ukraine. Macroeconomic stability is not sufficient for private sector growth. A lack of bank finance does not seem to prevent private sector growth. More inhibiting than inadequate finance are insecure property rights.
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Institute for Scientific Research on Economic Reforms
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Institute for Privatization and Management Research Center
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ACIPS
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Public Policy Research Centre
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Economic Policy Institute "Bishkek Consensus"
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Institute for Development and Social Initiatives
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Center for Strategic Studies and Reforms
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Institute of Economic Studies (Tajikistan)
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Center for Economic Research
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Institute of Economic Studies
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Center for Social and Economic Research
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Institute for the Economy in Transition
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Institute for Economic and Social Reforms
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International Center for Economic Growth, European Center
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Regional Education Network Association
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Center of Strategic Research
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Economics Education and Research Consortium
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Economics Institute
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National Institute of Strategic Planning and Economic Development
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