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on Confederation of Independent States |
| By: | Sumon Bhaumik; Saul Estrin |
| Abstract: | We use enterprise data to analyse and contrast the determinants of enterprise performance in China and Russia. We find that in China, enterprise growth and efficiency is associated with rapid increases in factor inputs, but not correlated with ownership or institutional factors. However, in Russia, enterprise growth is not associated with increases in factor quantity (except for labor) or quality. The main determinants of company performance are instead demand and institutional factors at a regional level. We explore possible interpretations of these results, including the impact of institutional and managerial quality. |
| Keywords: | enterprise performance; privatization in Russia and China. |
| JEL: | D23 L22 O12 P31 |
| Date: | 2005–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:wdi:papers:2005-744&r=cis |
| By: | BAT BATJARGAL |
| Abstract: | This article examines effects of dyadic ties and interpersonal trust on referrals and investment decisions of venture capitalists in the Chinese and Russian contexts. The study uses the postulate of transitivity of social network theory as a conceptual framework. The findings reveal that referee-venture capitalist tie, referee-entrepreneur tie, and interpersonal trust between referee and venture capitalist have positive effects on referrals and investment decisions of venture capitalists. The institutional, social and cultural differences between China and Russia have minimal effects on referrals. Interpersonal trust has positive effects on investment decisions in Russia. |
| Keywords: | Transitivity, triads, referral, venture capital, China, Russi |
| JEL: | G24 D85 M13 P27 |
| Date: | 2005–02–01 |
| URL: | http://d.repec.org/n?u=RePEc:wdi:papers:2005-752&r=cis |
| By: | BAT BATJARGAL |
| Abstract: | This study examines the impact of entrepreneurs’ network structure and knowledge homogeneity/heterogeneity of their network members on product development, and revenue growth of software ventures in China and Russia. The empirical data are composed of structured interviews with 159 software entrepreneurs in Beijing and Moscow. The study found that structural holes and knowledge heterogeneity affect positively product diversity in interactive ways. The study also found that knowledge homogeneity accelerates product development. Product development speed enhances revenue growth in the long term. However, the combination of speed with dense and homogeneous networks harms revenue growth over time. The effects of structural holes and knowledge heterogeneity on product diversity and revenue growth over time are more salient in Russia due to the unique institutional, social, and cultural conditions present in the country. |
| Keywords: | networks, knowledge, entrepreneurs, software, China, Russia. |
| JEL: | M13 D85 L14 L25 P27 |
| Date: | 2005–02–01 |
| URL: | http://d.repec.org/n?u=RePEc:wdi:papers:2005-751&r=cis |
| By: | Klara Sabirianova; Jan Svejnar; Katherine Terrell |
| Abstract: | Economic development implies that the efficiency of firms in developing countries is approaching that of firms in advanced economies. We examine the extent of this convergence in the Czech Republic and Russia, economies that represent alternative models of implementing development policies, often referred to as the Washington Consensus, that have promoted privatization, competition and foreign investment. We also test hypotheses positing that only firms near the efficiency frontier benefit from these policies and catch up. Using 1992-2000 panel data on virtually all industrial firms in each country, we find that privatization to domestic owners did not markedly improve the efficiency of firms; domestic firms are not catching up to the (world) efficiency standard given by foreign-owned firms; and the distance of the Russian firms to the efficiency frontier is much larger than that of the Czech firms and continued to grow for most firms beyond 1997 while remaining constant in the Czech Republic. Domestic firms closer to the frontier are not more likely to catch up than firms further from the frontier although foreign firms do exhibit this behavior. Foreign-owned firms are increasingly displacing domestic firms in the top deciles of the overall distribution of efficiency, due in part to slower “learning” by domestic firms, higher efficiency of foreign startups, and foreigners’ acquisitions of more efficient domestic firms. The two alternative implementations of the Washington Consensus policies have thus not enabled domestic firms to start catching up to the world standard. |
| Keywords: | efficiency, productivity, economic development, foreign direct investment, ownership, convergence, frontier, Czech Republic, Russia, Washington Consensus. |
| JEL: | C33 D20 G32 L20 |
| Date: | 2005–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:wdi:papers:2005-734&r=cis |
| By: | Phyllis Dininio; Robert W. Orttung |
| Abstract: | Corruption is one of the key problems facing the Russian state as it seeks to evolve out of its socialist past. Naturally, regional patterns of corruption exist across a country as large and diverse as the Russian Federation. To explain these variations, we analyze 2002 data from Transparency International and the Information for Democracy Foundation that provides the first effort to measure differences in incidence of corruption across 40 Russian regions. We find that corruption in Russia primarily is a structural problem, and not one related to its institutions. Within each region, the amount of corruption increases as the size of the regional economy grows, the per capita income decreases, and the population decreases. Russian policymakers can therefore work to reduce corruption by encouraging economic development outside of the key centers of Moscow and St. Petersburg. Because the data show that voter turnout also lowers corruption, policymakers can also fight corruption by fostering more political accountability in elections. |
| Keywords: | Corruption, Russia |
| JEL: | D73 |
| Date: | 2004–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:wdi:papers:2004-727&r=cis |