New firms entry, labor reallocation, and institutions in transition economies

Randolph Bruno

World of Labour, 2015, No 180, 180

Abstract: In the transition from central planning to a market economy in the 1990s, governments focused on privatizing or closing state enterprises, reforming labor markets, compensating laid-off workers, and fostering job creation through new private firms. After privatization, the focus shifted to creating a level playing-field in the product market by protecting property rights, enforcing the rule of law, and implementing transparent start-up regulations. A fair, competitive environment with transparent rules supports long-term economic growth and employment creation through the reallocation of jobs in favor of new private firms.

Keywords: new firms entry; job reallocation; transition; institutions (search for similar items in EconPapers)
JEL-codes: J45 J63 J64 L26 P26 P31 (search for similar items in EconPapers)
Date: 2015
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