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Convergence in Institutions and Market Outcomes : Cross-country and Time-series Evidence from the Business Environment and Enterprise Performance Surveys in Transition Economies

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dc.contributor.authorMitra, Pradeep
dc.contributor.authorMuravyev, Alexander
dc.contributor.authorSchaffer, Mark E.
dc.date.accessioned2012-03-19T19:08:25Z
dc.date.available2012-03-19T19:08:25Z
dc.date.issued2009-01-01
dc.description.abstractThis paper uses firm-level data from the Business Environment and Enterprise Performance Surveys to study the process of convergence of transition countries with developed market economies. The study focuses on competition and market structure, finance and the structure of lending to firms, and how firms respond to the economic environment by restructuring. The authors find substantial evidence of convergence in a number of dimensions. The pattern of growth at the country, sector, and firm levels shows rapid growth of the new private sector and of the micro and small-firm sectors, with the size distribution of firms moving toward the pattern observed in the surveys of developed market economies. In finance, increasing reliance on retained earnings in transition countries reflects a maturation of the sector as new firms come to rely less on informal and family sources of finance. The authors find evidence of an inverse-U pattern, with the peak of restructuring activity taking place in 2002, the middle of the period analyzed. Throughout, the regional patterns suggest greater convergence in the transition countries that joined the European Union in 2004 than in the other, lower-income transition economies.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090113083329
dc.identifier.doi10.1596/1813-9450-4819
dc.identifier.urihttps://hdl.handle.net/10986/4017
dc.languageEnglish
dc.relation.ispartofseriesPolicy Research working paper ; no. WPS 4819
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectACCOUNTING STANDARDS
dc.subjectADVANCED COUNTRIES
dc.subjectBANK BORROWING
dc.subjectBANK FINANCING
dc.subjectBANK LOAN
dc.subjectBRANCHES
dc.subjectBUSINESS CYCLE
dc.subjectBUSINESS ENVIRONMENT
dc.subjectBUSINESS INFRASTRUCTURE
dc.subjectCAPITAL ACCUMULATION
dc.subjectCAPITAL MARKETS
dc.subjectCAPITAL STOCK
dc.subjectCAPITALIST ECONOMIES
dc.subjectCOMPETITIVE MARKET
dc.subjectCOMPETITIVE MARKETS
dc.subjectCOMPETITORS
dc.subjectCOST OF FINANCE
dc.subjectCOUNTRY DUMMIES
dc.subjectDEVELOPING COUNTRIES
dc.subjectDOMESTIC COMPETITION
dc.subjectDOMESTIC COMPETITIONS
dc.subjectDOMESTIC MARKET
dc.subjectDOWNSIZING
dc.subjectDUMMY VARIABLE
dc.subjectDUMMY VARIABLES
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC RECOVERY
dc.subjectECONOMIC STRUCTURE
dc.subjectECONOMICS
dc.subjectEMPLOYMENT
dc.subjectEMPLOYMENT GROWTH
dc.subjectENTERPRISE FINANCE
dc.subjectENTERPRISE PERFORMANCE
dc.subjectENTERPRISE RESTRUCTURING
dc.subjectENTREPRENEURSHIP
dc.subjectEQUITY FINANCING
dc.subjectEXPANSION
dc.subjectEXPORTERS
dc.subjectEXTERNAL FINANCE
dc.subjectEXTERNAL FINANCING
dc.subjectFACTOR MARKETS
dc.subjectFINANCIAL CONSTRAINTS
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL RISK
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCING OBSTACLES
dc.subjectFIRM GROWTH
dc.subjectFIRM PERFORMANCE
dc.subjectFIRM SIZE
dc.subjectFIRMS
dc.subjectFIXED INVESTMENT
dc.subjectFOREIGN COMPETITION
dc.subjectFOREIGN MARKETS
dc.subjectFOREIGN OWNERS
dc.subjectFOREIGN OWNERSHIP
dc.subjectGLOBALIZATION
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectHUMAN CAPITAL
dc.subjectINCOME
dc.subjectINCOME LEVEL
dc.subjectINCOME LEVELS
dc.subjectINFLATION
dc.subjectINFLATION RATES
dc.subjectINFORMAL FINANCE
dc.subjectINNOVATION
dc.subjectINSTRUMENT
dc.subjectINTERNAL FINANCING
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL TRADE
dc.subjectINVESTMENT CLIMATE
dc.subjectJOB CREATION
dc.subjectJOB CREATION RATES
dc.subjectLABOR MARKET
dc.subjectLABOR PRODUCTIVITY
dc.subjectLEGAL PROTECTION
dc.subjectLEGAL SYSTEM
dc.subjectLENDERS
dc.subjectLICENSING
dc.subjectLIVING STANDARDS
dc.subjectLOAN
dc.subjectLOANS FROM FAMILY
dc.subjectLOCAL MARKET
dc.subjectLOW-INCOME COUNTRY
dc.subjectMARKET CONDITIONS
dc.subjectMARKET ECONOMIES
dc.subjectMARKET ECONOMY
dc.subjectMARKET ENVIRONMENT
dc.subjectMARKET POWER
dc.subjectMARKET STRUCTURE
dc.subjectMATURE MARKET
dc.subjectMONEY LENDERS
dc.subjectMONOPOLY
dc.subjectMOTIVATION
dc.subjectNEGATIVE SHOCK
dc.subjectNEW MARKET
dc.subjectNEW MARKETS
dc.subjectNEW PRODUCT
dc.subjectNEW PRODUCTS
dc.subjectOLIGOPOLY
dc.subjectOUTPUT
dc.subjectOWNERSHIP STRUCTURE
dc.subjectPRICE ELASTICITY OF DEMAND
dc.subjectPRIVATE SECTOR GROWTH
dc.subjectPRIVATIZATION
dc.subjectPRODUCT MARKETS
dc.subjectPRODUCT QUALITY
dc.subjectPRODUCTIVITY
dc.subjectPRODUCTIVITY GROWTH
dc.subjectPROFIT OPPORTUNITIES
dc.subjectPROPERTY RIGHTS
dc.subjectRAPID EXPANSION
dc.subjectRAPID GROWTH
dc.subjectRETURN
dc.subjectRISK MANAGEMENT
dc.subjectSALES
dc.subjectSIZE OF FIRMS
dc.subjectSMALL FIRM
dc.subjectSMALL FIRMS
dc.subjectSOCIALIST ENTERPRISES
dc.subjectSOFT BUDGET CONSTRAINT
dc.subjectSOFT BUDGET CONSTRAINTS
dc.subjectSTARTUP
dc.subjectSTATE BANK
dc.subjectSTATE BANKS
dc.subjectSTOCK MARKETS
dc.subjectSUPPLIERS
dc.subjectSUSTAINABLE GROWTH
dc.subjectTRADING
dc.subjectTRANSITION COUNTRIES
dc.subjectTRANSITION COUNTRY
dc.subjectTRANSITION ECONOMIES
dc.subjectTRANSITION ECONOMY
dc.subjectUSE OF BANK CREDIT
dc.titleConvergence in Institutions and Market Outcomes : Cross-country and Time-series Evidence from the Business Environment and Enterprise Performance Surveys in Transition Economiesen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.crossref.titleConvergence In Institutions And Market Outcomes: Cross-Country And Time-Series Evidence From The Business Environment And Enterprise Performance Surveys In Transition Economies
okr.date.doiregistration2025-04-10T12:21:51.784802Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090113083329
okr.globalpracticeSocial Protection and Labor
okr.guid891191468331826011
okr.identifier.doi10.1596/1813-9450-4819
okr.identifier.externaldocumentum000158349_20090113083329
okr.identifier.internaldocumentum10167617
okr.identifier.reportWPS4819
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2009/01/13/000158349_20090113083329/Rendered/PDF/WPS4819.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.administrativeEurope and Central Asia
okr.region.administrativeWorld
okr.region.administrativeWorld
okr.topicSocial Protections and Labor::Labor Policies
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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