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首页> 外文学位 >Government-led industrial restructuring in transition economies: The role of information, incentives and legal setting (Bulgaria, China, Hungary, Romania).
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Government-led industrial restructuring in transition economies: The role of information, incentives and legal setting (Bulgaria, China, Hungary, Romania).

机译：转型经济体中政府主导的产业结构调整：信息，激励措施和法律制定的作用（保加利亚，中国，匈牙利，罗马尼亚）。

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摘要

After more than a decade of industrial reform initiatives, the economic performance of transition countries remains uneven. While some countries experienced rapid growth, a majority continues to suffer from depressed output levels and high structural unemployment. The dominant role of the public sector in the economy also remains an issue, in spite of the recent increase in the private sector's contribution to employment and output. Transition countries also differ in their ability to adopt the institutional and legal setting in line with other reform initiatives to move towards a market based economic system. In Part I, an analytical framework is developed, based on the literature on regulation under asymmetric information. As such, it contributes to the growing body of research, looking at the role of informational problems in the context of state-owned enterprise (SOE) restructuring. The model treats the implementation of an investment policy by the government for enterprise specific reforms as a contracting problem, analyzing distortions generated by asymmetric information between SOEs and the government. The feasible mechanisms to differentiate productive SOEs that have a higher chance of undertaking successful restructuring from unproductive ones are discussed. The arguments are made in relation to transition economies; however the model's implications are quite general and could be applied to any economy where the policy debate regarding restructuring declining industries is still unresolved. The model in particular sheds light to the complementary role of different reform initiatives in areas ranging from bankruptcy, corporate governance to performance-based pay and social safety nets. The theory section is complemented by individual country surveys in Part II, tracking legal developments in a representative set of transition economies. Four transition countries with divergent reform outcomes are selected: Bulgaria, China, Hungary and Romania. A comparative database of laws is assembled for each country in three areas, highlighted in Part I: organizing transfer of ownership and control of public commercial assets (privatization), coordinating firm default (bankruptcy); and improving wage structure and social protection (labor market). A legal system's capacity for adaptation and innovation is argued to contribute to the success of the structural reform as much as its enforcement capacity. Inconsistent application of laws, ad hoc regulations, unclear definitions of contractual obligations, among others are identified as factors contributing to transaction costs, and hampering investment levels and growth in transition economies. Part II also puts emphasis on the complementarity across legal reforms in determining the success of industrial re-structuring.
机译：经过十多年的工业改革举措，转型国家的经济表现仍然不平衡。尽管一些国家实现了快速增长，但大多数国家仍遭受产出水平下降和高结构性失业的困扰。尽管最近私营部门对就业和产出的贡献有所增加，但公共部门在经济中的主导作用仍然是一个问题。转型国家在采用机构和法律环境以及与其他改革举措相一致的能力上也有所不同，这些举措旨在向市场经济体制迈进。在第一部分中，基于关于非对称信息下监管的文献，建立了一个分析框架。因此，它在研究信息问题在国有企业（SOE）重组背景下的作用方面，为不断发展的研究做出了贡献。该模型将政府针对企业特定改革的投资政策的实施视为合同问题，分析了国有企业与政府之间信息不对称所产生的扭曲。讨论了将有机会成功进行重组的生产性国有企业与非生产性国有企业区分开的可行机制。这些论点是关于转轨经济的；但是，该模型的含义非常笼统，可以应用于仍未解决有关重组衰退产业的政策辩论的任何经济体。该模型特别阐明了不同改革举措在破产，公司治理到基于绩效的薪酬和社会安全网等领域的互补作用。在第二部分中，通过对各个国家的调查来补充理论部分，以追踪代表性的转型经济体中的法律发展。选择了四个具有不同改革成果的转型国家：保加利亚，中国，匈牙利和罗马尼亚。在第一部分中着重介绍了每个国家在三个方面的法律比较数据库：第一部分：组织所有权的转移和对公共商业资产的控制（私有化），协调公司违约（破产）；改善工资结构和社会保护（劳动力市场）。有人认为，法律体系的适应和创新能力将为结构改革的成功及其执行能力做出贡献。法律，临时法规的执行不一致，合同义务的定义不明确等因素被认为是造成交易成本，阻碍投资水平和转型经济体增长的因素。第二部分在确定产业结构调整成功与否的过程中也强调了法律改革的互补性。

著录项

  • 作者

    Baygan, Gunseli H.;

  • 作者单位

    The George Washington University.;

  • 授予单位 The George Washington University.;
  • 学科 Economics Theory.
  • 学位 Ph.D.
  • 年度 2005
  • 页码 178 p.
  • 总页数 178
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 经济学;
  • 关键词

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