Description: The Microeconomics of Creating Productive Jobs : A Synthesis of Firm-Level Studies in Transition Economies

The Microeconomics of Creating Productive Jobs : A Synthesis of Firm-Level Studies in Transition Economies

The challenge for labor market policy in the transition economies has been to redress the sharp drops in employment and rises in unemployment in a way that fosters the creation of productive jobs. The authors first document the magnitude and productivity of job and worker reallocation. Then they inv...

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Bibliographic Details
Main Authors:	Brown, J. David, Earle, John S.
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ADJUSTMENT COSTS AFFECTED WORKERS AGGREGATE PRODUCTIVITY AGGREGATE PRODUCTIVITY GROWTH ATTRITION BENEFITS FROM PRIVATIZATION BENEFITS OF PRIVATIZATION BUREAUCRATIC INTERFERENCE BUSINESS ENVIRONMENT BUSINESS PLAN CASH FLOW CENTRAL ASIAN CENTRAL PLANNING COMPANY COMPETITIVE INDUSTRIES COMPETITIVE PRESSURES COMPETITIVE SECTORS COMPETITIVENESS COMPETITORS CONTINUED EMPLOYMENT CONTRACT ENFORCEMENT CORPORATE GOVERNANCE CREATIVE DESTRUCTION DOMESTIC EQUITY MARKETS DOMESTIC INVESTORS DOMESTIC SAVINGS DOMINANT EMPLOYERS DOWNSIZING ECONOMIC POLICY ECONOMIC SECTORS ECONOMIC TRANSITION ECONOMIES OF SCALE EFFECT ON EMPLOYMENT EMPLOYEE EMPLOYEE OWNERSHIP EMPLOYMENT EMPLOYMENT GROWTH EMPLOYMENT LEVEL EMPLOYMENT LEVELS EMPLOYMENT OPPORTUNITIES EMPLOYMENT POLICY EMPLOYMENT RATE EMPLOYMENT RATES EMPLOYMENT RESEARCH EMPLOYMENT SIZE ENTREPRENEURS EXCESS DEMAND EXECUTIVE DIRECTORS FINANCIAL CRISIS FINANCIAL MARKETS FIRM GROWTH FIRM PERFORMANCE FIRM PRODUCTIVITY FIRM SIZE FIRM SURVEY FIRM TURNOVER FOREIGN INVESTORS FOREIGN OWNERSHIP FOREIGN-OWNED FIRMS HARD BUDGET CONSTRAINTS HIGH EMPLOYMENT HUMAN CAPITAL IMPACT OF PRIVATIZATION INCUMBENT WORKERS INDUSTRIAL ENTERPRISES INSTITUTIONAL ENVIRONMENT INTERNATIONAL STANDARDS JOB CREATION JOB DESTRUCTION JOB FLOWS JOBS LABOR FORCE LABOR MARKET LABOR MARKET POLICIES LABOR MARKET POLICY LABOR MARKET VARIABLES LABOR MARKETS LABOR REALLOCATION LAYOFF LEGAL ENTITIES LEGAL ENTITY LOCAL NETWORKS MANAGERIAL OWNERSHIP MANDATORY SEVERANCE MANDATORY SEVERANCE PAY MARKET ECONOMY MARKET MECHANISMS MARKET SHARE MASS LAYOFFS MASS PRIVATIZATION MASS PRIVATIZATION PROGRAMS NET EMPLOYMENT OPEN UNEMPLOYMENT ORGANIZATIONAL STRUCTURE OWNERSHIP CONCENTRATION OWNERSHIP STRUCTURE OWNERSHIP STRUCTURES PLANNED ECONOMIES POSITIVE EFFECTS PREVIOUS ONE PRIVATE FIRMS PRIVATE OWNERS PRIVATE OWNERSHIP PRIVATE SECTOR PRIVATIZATION PRIVATIZATION DATA PRIVATIZATION METHOD PRIVATIZATION METHODS PRIVATIZATION POLICY PRIVATIZATION TRANSACTIONS PRIVATIZATIONS PRODUCING GOODS PRODUCT MARKET PRODUCT MARKET COMPETITION PRODUCT MARKETS PRODUCT MIX PRODUCTIVE FIRMS PRODUCTIVITY BENEFIT PRODUCTIVITY DATA PRODUCTIVITY EFFECT PRODUCTIVITY EFFECTS PRODUCTIVITY GAINS PRODUCTIVITY IMPROVEMENTS PRODUCTIVITY INCREASES PROFIT MAXIMIZATION PROPERTY RIGHTS REAL WAGES SALES CONTRACTS SHARE OF PRIVATIZATION SMALL ENTERPRISES SMALL FIRMS SOFT BUDGET CONSTRAINTS STATE CONTROL STATE FIRMS STATE OWNERSHIP TECHNICAL ASSISTANCE TOTAL WORKER TRAINING COSTS TRANSITION ECONOMIES TYPES OF PRIVATIZATION UNEMPLOYED UNEMPLOYED WORKERS UNEMPLOYMENT VALUATION WAGE GROWTH WITHIN-FIRM PRODUCTIVITY GROWTH WORKER WORKERS
Online Access:	http://documents.worldbank.org/curated/en/2006/04/6727796/microeconomics-creating-productive-jobs-synthesis-firm-level-studies-transition-economies http://hdl.handle.net/10986/8723

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Summary:	The challenge for labor market policy in the transition economies has been to redress the sharp drops in employment and rises in unemployment in a way that fosters the creation of productive jobs. The authors first document the magnitude and productivity of job and worker reallocation. Then they investigate the effects of privatization, product and labor market liberalization, and obstacles to growth in the new private sector on reallocation and its productivity in Hungary, Romania, Russia, and Ukraine. The authors find that market reform has resulted in a large increase in the pace of job reallocation, particularly that occurring between sectors and through firm turnover. Unlike under central planning, the job reallocation during the transition has contributed significantly to aggregate productivity growth. Privatization has not only stimulated intrasectoral job reallocation, but the reallocation is more productive than that among remaining state firms. The effect of privatization on firm productivity varies considerably across countries and is not always positive. The productivity gains from privatization have generally not come at the expense of workers but are rather associated with increased wages and employment.

The Microeconomics of Creating Productive Jobs : A Synthesis of Firm-Level Studies in Transition Economies

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