From Illyria towards Capitalism: Did Labour-Management Theory Teach Us Anything about Yugoslavia and Transition in Its Successor States?

Estrin, Saul; Uvalic, Milica

doi:10.1057/ces.2008.41

Cited by 21 publications

(8 citation statements)

References 32 publications

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“…During the 1990s, instead of enterprise restructuring often led by foreign investors as in Central and Eastern Europe (Estrin et al, 2009), in much of the Western Balkans productive capacity remained underutilized, was closed down or was destroyed in military conflicts. Moreover, both the initial legislation in former Yugoslavia and subsequent privatization laws adopted by its successor states relied quite substantially on sales at privileged terms to insiders, since this was considered necessary for obtaining popular support after decades of workers self-management (Estrin and Uvalic, 2008). The deliberate preference given to employee owners hip as a privatization method is likely to have limited the amount of inward FDI, at least initially.…”

Section: Western Balkans Delayed Transition: the Consequences For Fdimentioning

confidence: 99%

Foreign Direct Investment in the Western Balkans: What Role Has it Played During Transition?

Estrin

Uvalic

2016

Comp Econ Stud

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The paper explores the impact of foreign direct investment (FDI) on the economies of the Western Balkans during their transition to a market system. The paper recalls the political and historical circumstances that have delayed transition in the Western Balkans economies, and draws attention to the specific features of FDI that have influenced their economic development. The main hypotheses are formulated and basic tests performed on data from the manufacturing sector. However, data limitations mean that we can only test for horizontal, rather than vertical, spillovers and in practice we are not able to identify many significant horizontal spillover effects. This finding can probably be explained by various factors -institutional, economic, and political -that have constrained FDI effects in the Western Balkan economies in comparison to the Central East European countries. Our work has important policy implications; in order to accelerate economic development, Western Balkan policy makers may need to implement more effective economic policies. JEL codes: F23, F63, L53, P33

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Section: Western Balkans Delayed Transition: the Consequences For Fdimentioning

confidence: 99%

Foreign Direct Investment in the Western Balkans: What Role Has it Played During Transition?

Estrin

Uvalic

2016

Comp Econ Stud

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“…It has also been argued that worker-members will be reluctant to vote for layoffs because, in a WMF in which members are equally treated, everybody faces similar probabilities of being selected for dismissal(Moene 1989).4 Estrin and Uvalic (2008) discussed the underinvestment critique in the context of the Yugoslav system.at UNIV OF MIAMI SCH OF MED on June 27, 2015 ilr.sagepub.com Downloaded from…”

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confidence: 99%

Are Worker-Managed Firms More Likely to Fail Than Conventional Enterprises? Evidence from Uruguay

Burdín¹

2014

ILR Review

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Various theories suggest that worker-managed firms (WMFs) are prone to failure in competitive environments. Using a long panel of Uruguayan firms, the author presents new evidence on firm survival by comparing WMFs with conventional firms. After excluding microenterprises and controlling for differences in the effective tax burden faced by the two types of firms, the hazard of dissolution is 29% lower for WMFs than for conventional firms. This result is robust to alternative estimation strategies based on semiparametric and parametric frailty duration models that take into account unobserved firm-level heterogeneity and impose a range of distributional assumptions about the shape of the baseline hazard. The higher survival rates of worker-managed firms seem to be associated with their greater employment stability. This evidence suggests that the marginal presence of WMFs in actual market economies cannot be explained by the fact that these firms are less likely to survive than conventional firms. S amuelson (1957) claimed that in a perfectly competitive market who hires whom does not really matter. It is irrelevant whether entrepreneurial functions are carried out either by capital or labor. This famous statement seems to be at odds with the fact that most firms in actual market economies are ultimately controlled by capital suppliers and not by their workforces.Recent developments in economic theory have provided several competing explanations to account for this fact. One important issue in this debate is whether the low proportion of worker-managed firms (WMFs) is explained by structural obstacles impeding their formation or by internal inefficiencies leading to a higher rate of failure for this type of firm compared with conventional enterprises.

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“…At the time of the break-up of Yugoslavia in mid-June 1991, all its successor states generally had less distorted economies than the centrally planned economies in CEE (Estrin and Uvalic 2008). Unlike the Yugoslav successor states that in 1991 inherited some elements of the market mechanism, there had been no previous experience of a market economy in Albania; Romania had one of the most centralized economies among all CMEA countries, while only very limited reforms had been implemented in Bulgaria.…”

Section: Historical Background: Initial Conditions In Seementioning

confidence: 99%

“…The way the legacies of the previous economic system were dealt with after the disintegration of Yugoslavia has had a fundamental impact on the course of the transition and economic performance of its successor states, resulting in very different outcomes (Estrin and Uvalic 2008).…”

Section: Historical Background: Initial Conditions In Seementioning

confidence: 99%

“…One might have expected that the extent of market-oriented reforms undertaken in the past, which provided all of the Yugoslav successor states with initial conditions that were among the best within the former socialist countries, would have been a substantial advantage, facilitating the transition. However, most SEE countries, instead of being leaders among the transition countries, have turned out to be laggards (Estrin and Uvalic 2008). Why has not the success of CEE been replicated in the Western Balkans?…”

Section: Understanding Delays In Transition In Seementioning

confidence: 99%

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Transition in Southeast Europe: Understanding Economic Development and Institutional Change

Uvalic¹

2012

Economies in Transition

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in AbstractThe paper analyses the 20-year experience with transition in the SEE countries in a comparative framework, illustrating how these countries encountered difficulties in its implementation, despite having some of the best starting conditions in 1989 to implement a swift transition to a market economy. The paper recalls the initial conditions in the SEE region in 1989, macroeconomic performance and progress achieved in the various transition-related economic reforms. The international issues are also addressed related to the post-2000 integration of the SEE countries with the EU and among themselves. The paper also reflects on the main factors that are responsible for delays in transition in SEE related to political instability, delayed integration with the EU, and inappropriate economic policies.

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From Illyria towards Capitalism: Did Labour-Management Theory Teach Us Anything about Yugoslavia and Transition in Its Successor States?

Cited by 21 publications

References 32 publications

Foreign Direct Investment in the Western Balkans: What Role Has it Played During Transition?

Foreign Direct Investment in the Western Balkans: What Role Has it Played During Transition?

Are Worker-Managed Firms More Likely to Fail Than Conventional Enterprises? Evidence from Uruguay

Transition in Southeast Europe: Understanding Economic Development and Institutional Change

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