Naslov
Effects of private ownership, trade, and foreign direct investment on labor productivity growth in transition economies: evidence from the croatian manufacturing industry

Autori
Vukšić, Goran

Izvornik
Emerging markets finance and trade (1540-496X) 52 (2016), 2; 322-335

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
labor productivity ; transition ; private ownership ; trade openness ; foreign direct investment ; Croatia

Sažetak
In this study, we investigate the determinants of labor productivity dynamics in transition economies using data from Croatian manufacturing industries. Capital intensity growth and human capital accumulation have been significant contributors to stronger productivity gains. Private-sector development has positively affected productivity growth—but mostly through the increasing role of new private companies. Still, unfinished privatization represents a significant obstacle to stronger productivity gains. The effect of increasing trade openness is significant but negative, most likely owing to weak export competitiveness of Croatian companies. Neither greenfield nor (predominant) brownfield foreign direct investment inflows have contributed to higher labor productivity growth. Further privatization and structural reforms seem to be the most promising policy measures that need to be undertaken in order to achieve higher productivity gains.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA