Free Fall or Restructuring: An Empirical Analysis of Economic Performance of Russian Industries and Regions

Obersteiner, Michael (April 2000) Free Fall or Restructuring: An Empirical Analysis of Economic Performance of Russian Industries and Regions. Reihe Transformationsökonomie / Transition Economics Series 16

[img]
Preview
Text
te-16.pdf

Download (336kB) | Preview

Abstract or Table of Contents

Abstract: Improvements in economic efficiency and productivity are the most important sources for economic growth, however, have yet to occur in Russia. The Soviet Union left an institutional vacuum and large economic distortions behind, which set the stage for an established elite to systematically exploit factors of production for their personal benefit lacking the incentives to restructure. This paper generates some empirical highlights of the outcomes of industrial transformation from 1987 to 1997. The following results are worth mentioning: (1) Early steps of liberalization, the attempts to macro-stabilization and the launch of the privatization package did not bring about improved economic efficiency in industrial production; (2) Less concentrated and highly localized industries performed better, which can mainly be explained by the performance of the resource extracting industries; (3) Price liberalization revealed increasing returns in industrial production and the contribution of capital to output declined rapidly, while the contribution of labor increased.;

Item Type: IHS Series
Keywords: 'Russian regions' 'Industrial development' 'Relocation' 'Economies of scale'
Classification Codes (e.g. JEL): L60, P27, R12
Status: Published
Date Deposited: 26 Sep 2014 10:37
Last Modified: 01 Apr 2016 14:11
URI: http://irihs.ihs.ac.at/id/eprint/1258

Actions (login required)

View Item View Item