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Structural change and misallocation: Firm‐level evidence from Poland

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dc.abstract.enEarly transition literature linked a large number of firm failures with the inability to overcome the pre-transition misallocation of resources, that is, the inadequate capital–labour ratio. We look at the link between misallocation and firm survival using a rich firm-level dataset of over 1,600 manufacturing plants established in a centrally planned economy after 1945. Our duration models include the standard Olley–Pakes misallocation measures as well as a firm-level measure of the counterfactual level of capital that takes into account the present-day market allocation and productivity. We show that while privatization is positively related to firm survival, misallocation (a) was more of a firm-level than sector-level phenomenon and, more importantly, (b) it, in general, did not have a sizeable effect on the actual firm survival nor it had an impact on the outcome of privatization.
dc.affiliationUniwersytet Warszawski
dc.contributor.authorTyrowicz, Joanna
dc.contributor.authorHagemejer, Jan
dc.date.accessioned2024-01-26T08:21:19Z
dc.date.available2024-01-26T08:21:19Z
dc.date.issued2021
dc.description.financePublikacja bezkosztowa
dc.description.number1
dc.description.volume29
dc.identifier.doi10.1111/ECOT.12260
dc.identifier.issn2577-6975
dc.identifier.urihttps://repozytorium.uw.edu.pl//handle/item/120879
dc.identifier.weblinkhttps://onlinelibrary.wiley.com/doi/pdf/10.1111/ecot.12260
dc.languageeng
dc.pbn.affiliationeconomics and finance
dc.relation.ispartofEconomics of Transition and Institutional Change
dc.relation.pages95-122
dc.rightsClosedAccess
dc.sciencecloudnosend
dc.titleStructural change and misallocation: Firm‐level evidence from Poland
dc.typeJournalArticle
dspace.entity.typePublication