Foreign investment, corporate ownership, and development : are firms in emerging markets catching up to the world standard?

Abstrakt

Economic development implies that the efficiency of firms in developing countries starts approaching that of firms from advanced economies. Various development policies have been pursued to achieve this convergence.

We test for this convergence in two economies that represent alternative models of implementing market-oriented development policies: the Czech Republic and Russia.

Klíčová slova

• panel-data
• transition economies
• privatization