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Will the Crisis Affect the Economic Recovery in Eastern European Countries? Evidence from Firm Level Data

Two sources of growth are firm learning and innovation. Using a unique panel data for 1,686 firms in six countries (Bulgaria, Hungary, Latvia, Lithuania, Romania, and Turkey), this paper applies panel data estimators and Juhn-Murphy Pierce decompos...

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Bibliographic Details
Main Authors: Correa, Paulo, Iootty, Mariana
Language:English
Published: 2012
Subjects:
ANNUAL GROWTH
ANNUAL GROWTH RATE
BUSINESS ENVIRONMENT
CAPABILITIES
COMPETITIVE ENVIRONMENT
CORPORATE GROWTH
CUMULATIVE DISTRIBUTION
CUMULATIVE DISTRIBUTION FUNCTION
DATA ANALYSIS
DEPENDENT VARIABLE
DEVELOPING COUNTRIES
ECONOMIC ACTIVITY
ECONOMIC GROWTH
ECONOMICS
EMPIRICAL LITERATURE
EMPIRICAL WORK
EMPLOYMENT
ENTERPRISE SECTOR
ENTERPRISE SURVEY
ENTREPRENEURSHIP
EQUIPMENTS
ERROR TERM
ESTIMATED COEFFICIENTS
EXCHANGE RATE
EXPLANATORY VARIABLES
FINANCIAL CRISIS
FINANCIAL SECTOR
FIRM SIZE
FIRMS
FIXED EFFECTS
GLOBAL ECONOMY
GROWTH EQUATION
GROWTH PERFORMANCE
GROWTH PROSPECTS
GROWTH RATE
GROWTH RATES
HUMAN CAPITAL
HUMAN RESOURCES
INCREASING RETURNS
INNOVATION
INTANGIBLE ASSETS
INTERNATIONAL TRADE
LONG RUN
MACRO POLICIES
MANUFACTURING
MERGER
NEGATIVE EFFECT
NEGATIVE IMPACT
NEGATIVE SIGN
0 HYPOTHESIS
PERFORMANCE MEASURES
POLICY RESEARCH
POLITICAL ECONOMY
PRIVATE SECTOR
PRIVATE SECTOR DEVELOPMENT
PRODUCTIVITY
R&D
RESULT
RESULTS
SERIAL CORRELATION
SKILLED LABOR
TECHNOLOGICAL CHANGE
TIME PERIODS
USES
WAGE DIFFERENTIALS
WEB
Online Access:http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100423135253
http://hdl.handle.net/10986/3765
Description
Summary:Two sources of growth are firm learning and innovation. Using a unique panel data for 1,686 firms in six countries (Bulgaria, Hungary, Latvia, Lithuania, Romania, and Turkey), this paper applies panel data estimators and Juhn-Murphy Pierce decomposition in order to identify the effects of the global economic crisis on sales growth of innovative and young enterprises in Eastern European countries. The results show that innovative and young firms were significantly more affected by the crisis than non innovative and older enterprises. The authors interpret these results as an indication that the achievement of pre-crisis growth rates in those countries may be difficult.

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