The Institutional Basis of Successful Economic Reform: Privatization Effectiveness and Regime Change After Ukraine’s Orange Revolution
نویسندگان
چکیده
Why do similar economic reforms often produce dissimilar outcomes? We examine the impact of institutional environment on reform outcomes, exploiting a particular moment of institutional change: the 2004 Orange Revolution, which resulted in a dramatic shift in the balance of power among regions in Ukraine. Using a unique panel dataset of over 7,000 Ukrainian manufacturing enterprises, we estimate change at the regional level in the effect of privatization on firm performance. Our analysis finds a marked decrease after the Orange Revolution in the relative effectiveness of privatization in regions that opposed Viktor Yushchenko during the 2004 Ukrainian presidential election.
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