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  1. Committing to grow
    privatizations and firm dynamics in East Germany
    Autor*in: Akcigit, Ufuk; Alp, Harun; Diegmann, André; Serrano-Velarde, Nicolas
    Erschienen: August 2023
    Verlag:  CESifo, Munich, Germany

    There is a large literature on the role infrastructure plays in economic development, but few papers document the causal effect of infrastructure on the sustainability of natural resources. We examine the effect of the arrival of two new national... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 63
    Fernleihe:
    keine Fernleihe

     

    There is a large literature on the role infrastructure plays in economic development, but few papers document the causal effect of infrastructure on the sustainability of natural resources. We examine the effect of the arrival of two new national highways on ground water levels in a small agricultural county in the North China Plain - a region that produces most of the nation's food grains. We first develop a conceptual framework to show that farmers located closer to the highways devote more acreage to crops that are water intensive. We then use a unique GIS-referenced dataset of all the 12,160 tube wells in this county to show that highway construction accelerates the drilling of new wells in farms closer to the highway. In addition, there is greater depletion of the groundwater in wells near the two highways relative to wells located farther away. Our estimated depletion rates near the two roads are at least 5 times higher relative to mean depletion rates in the North China Plain. We show suggestive evidence that depletion is caused by a switch from subsistence to commercial cropping, and intensification of farming practices adjacent to the highway. These results suggest that the environmental cost of new infrastructure building may be significant and needs to be incorporated in benefit-cost analysis.This paper investigates a unique policy designed to maintain employment during the privatization of East German firms after the fall of the Iron Curtain. The policy required new owners of the firms to commit to employment targets, with penalties for non-compliance. Using a dynamic model, we highlight three channels through which employment targets impact firms: distorted employment decisions, increased productivity, and higher exit rates. Our empirical analysis, using a novel dataset and instrumental variable approach, confirms these findings. We estimate a 22% points higher annual employment growth rate, a 14% points higher annual productivity growth, and a 3.6% points higher probability of exit for firms with binding employment targets. Our calibrated model further demonstrates that without these targets, aggregate employment would have been 15% lower after 10 years. Additionally, an alternative policy of productivity investment subsidies proved costly and less effective in the short term.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/279391
    Schriftenreihe: CESifo working papers ; 10640 (2023)
    Schlagworte: industrial policy; privatizations; productivity; size-dependent regulations
    Umfang: 1 Online-Ressource (circa 68 Seiten), Illustrationen
  2. Committing to grow
    privatizations and firm dynamics in East Germany
    Autor*in: Akcigit, Ufuk; Alp, Harun; Diegmann, André; Serrano-Velarde, Nicolas
    Erschienen: [2023]
    Verlag:  ZEW - Leibniz Centre for European Economic Research, Mannheim, Germany

    This paper investigates a unique policy designed to maintain employment during the privatization of East German firms after the fall of the Iron Curtain. The policy required new owners of the firms to commit to employment targets, with penalties for... mehr

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 15
    Fernleihe:
    keine Fernleihe

    Standort:
    Universitätsbibliothek Mannheim
    Fernleihe:
    keine Fernleihe

     

    This paper investigates a unique policy designed to maintain employment during the privatization of East German firms after the fall of the Iron Curtain. The policy required new owners of the firms to commit to employment targets, with penalties for non-compliance. Using a dynamic model, we highlight three channels through which employment targets impact firms: distorted employment decisions, increased productivity, and higher exit rates. Our empirical analysis, using a novel dataset and instrumental variable approach, confirms these findings. We estimate a 22% points higher annual employment growth rate, a 14% points higher annual productivity growth, and a 3.6% points higher probability of exit for firms with binding employment targets. Our calibrated model further demonstrates that without these targets, aggregate employment would have been 15% lower after 10 years. Additionally, an alternative policy of productivity investment subsidies proved costly and less effective in the short term.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/279550
    Schriftenreihe: Discussion paper / ZEW ; no. 23, 039 (10/2023)
    Schlagworte: industrial policy; privatizations; productivity; size-dependent regulations
    Umfang: 1 Online-Ressource (66 Seiten), Illustrationen
  3. Committing to grow: privatizations and firm dynamics in East Germany
    Autor*in: Akcigit, Ufuk; Alp, Harun; Diegmann, André; Serrano-Velarde, Nicolas
    Erschienen: [2023]
    Verlag:  Board of Governors of the Federal Reserve System, [Washington, DC]

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    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 201
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    Schriftenreihe: International finance discussion papers ; number 1382 (November 2023)
    Schlagworte: industrial policy; privatizations; productivity; size-dependent regulations
    Umfang: 1 Online-Ressource (circa 67 Seiten), Illustrationen
  4. Committing to grow
    size-dependent regulations and firm dynamics in East Germany
    Autor*in: Akcigit, Ufuk; Alp, Harun; Diegmann, André; Serrano-Velarde, Nicolas
    Erschienen: [2023]
    Verlag:  IGIER, Università Bocconi, Milano, Italy

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    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 507
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Auflage/Ausgabe: This version: January 12, 2023
    Schriftenreihe: Working paper series / IGIER ; n. 685
    Schlagworte: Nationale Einheit; Privatisierung; Industriepolitik; Arbeitsmarktpolitik; Wirkungsanalyse; Beschäftigungseffekt; Produktivitätsentwicklung; Unternehmenserfolg; Endogenes Wachstumsmodell; Ostdeutschland; size-dependent regulations; industrial policy; productivity; endogenous growth
    Umfang: 1 Online-Ressource (circa 56 Seiten), Illustrationen