Equity Issues in Policymaking in Transition Economies

Succession Issues within Family Enterprises in Transition Economies

In countries with a long history of entrepreneurship and market economy, significant research efforts have been devoted to family business succession. Such studies are rare in former communist countries, mainly because private enterprises were outlawed during the socialist economy era. Considering reports on the importance and complexity of succession issues, and taking into account the ageing ...

Equity and efficiency in non-convex economies

The objective of this paper is to consider the following question. Does the presence of increasing returns introduce a fundamental trade-off between equity and efficiency objectives? We show that if the no-envy notion of Foley (1967) is taken as the equity criterion and Pareto optimality as the efficiency criterion, then the answer is yes; there exist economies with increasing returns and well-...

Equity in Production Economies with Dedicated Factors

In this paper I consider the problem of determining an equitable allocation of resources in production economies in which factors must be dedicated to production. That is, although they might be used to produce various consumption goods, they cannot be consumed directly. I …rst establish that in such economies, envy-free and e¢ cient allocations exist under standard assumptions, whereas that is...

Corporate governance in transition economies

The transition economies in Central and Eastern Europe have privatized their economies at an unprecendented speed in the 1990s. The expectation was that under private ownership, formerly state-owned firms would act as dynamic, profit-oriented players driving economic restructuring and growth. Yet, the expectation has rarely been fulfilled, and lack of effective corporate governance is often see...

Restructuring infrastructure in transition economies