Which Enterprises (Believe They) Have Soft budgets after Mass Privatization? Evidence from Mongolia

James Anderson, Georges Korsum and And Murrell
Authors registered in the RePEc Author Service: Peter Murrell

No 83, William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan

Abstract: To ascertain the prevalence of soft budgets and to find causes of softness, we surveyed 251 privatized Mongolian enterprises, asking whether state aid was expected when financial difficulties arose. One quarter of the enterprises expected such soft-budget aid, a large proportion of which have central government ownership. We examine causes of soft budgets in addition to state ownership, but the state variable dominates. Results are robust when using either instrumental variables or bivariate probit to unmask unmeasured selection effects. Local government ownership has a much weaker effect than does central ownership.

JEL-codes: H20 H70 O53 P11 P21 (search for similar items in EconPapers)
Pages: pages
Date: 1997-10-01
New Economics Papers: this item is included in nep-pbe
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Citations: View citations in EconPapers (3)

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