An Exploratory Analysis of Joint Ventures' Performance in Romania

Christian Helmenstein and Ioan Voicu
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Christian Helmenstein: Institute for Advanced Studies, Vienna
Ioan Voicu: Department of Economics, The State University of New Jersey

No 17, East European Series from Institute for Advanced Studies

Abstract: This paper gives empirical evidence for the superior performance of foreign direct investment in Romania in the presence of highly labor-intensive production and large market shares. Performance is measured in terms of investment volume and net profits. Partial state-ownership in joint ventures adversely affects performance, while a higher degree of import competition - in contrast to common conviction - favors profits during this stage of reforms. According to the results of a profitability analysis, the optimal size per investment has neither been reached nor even been surpassed yet.

Keywords: Economic Transition; Joint Ventures; Romania; Manufacturing Industry (search for similar items in EconPapers)
JEL-codes: C21 F15 F21 O12 (search for similar items in EconPapers)
Pages: 12 pages
Date: 1995-01
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https://irihs.ihs.ac.at/id/eprint/813 First version, 1995 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:ihs:ihsrop:17

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