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Author/Editor:
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Zalduendo, Juan
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Publication Date:
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June 01, 2003
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Electronic Access:
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Free Full text
(PDF file size is 625KB).
Use the free
Adobe Acrobat Reader
to view this PDF file
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
This paper reviews developments in corporate performance in the FYR Macedonia during the 1990s. The paper finds substantial differences in performance between surviving old firms and nimbler new ones. The paper reviews factors that facilitated restructuring among surviving firms, and concludes that private sector ownership, hard budget constraints, and market-based economic institutions have served to strengthen corporate performance. The paper also shows that the predominance of insider privatization and the resulting low ownership concentration is one of the reasons for the poor performance of surviving firms.
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Order a print copy
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Series:
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Working Paper No. 03/136
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Subject(s):
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Privatization | Macedonia, FYR | Transition economies | Macedonia, former Yugoslav Republic of
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Author's Keyword(s):
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Enterprise restructuring | corporate performance | ownership concentration | transition economies |
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English
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Publication Date:
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June 01, 2003
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ISBN/ISSN:
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1934-7073
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Format:
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Paper
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Stock No:
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WPIEA1362003
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Pages:
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17
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Price:
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US$15.00 )
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Please address any questions about this title to
publications@imf.org
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