Which Enterprises (Believe They) Have Soft Budgets? Evidence on the Effects of Ownership and Decentralization in Mongolia

State ownership, soft-budget constraints, and cash holdings: Evidence from China’s privatized firms

“…Do privatization and bolstering the private sector reinforce the trend toward hardening the budget constraint? Affirmative answers come from a succession of studies: Giles Alfandari et al (1996), EBRD (2000), Anderson et al (2000), Frydman et al (2000), and Schaffer (1998). It is also shown that demonopolization helps harden the budget constraint (Lubomir Lizal et al, 2001)'' (Kornai et al, 2003(Kornai et al, , pp.…”

Data Watch: Research Data from Transition Economies

“…These have frequently been sponsored by the World Bank or the European Bank for Reconstruction and Development and so should easily be obtainable for further analysis. Among the studies based on private surveys are examinations of restructuring (Djankov and Pohl, 1998;Linz and Krueger, 1998); the impact of foreign investment (Deardorff and Djankov, 2000); ownership effects (Anderson, Korsun and Murrell, 2000;Buck et al, 1999); privatization (Johnson, McMillan and Woodruff, 2000;Estrin and Rosevear, 1999;Frydman et al, 1999); and employment arrangements (Linz, 1998). 7 Finally, those interested in asset market efficiency and market microstructure will find a wealth of data available from regional stock markets.…”

Bailing out expectations and public health expenditure

“…An early attempt to test the presence of a flypaper effect and a soft budget constraint in the Italian health care funding system is due to Levaggi and Zanola (2003). 6 An alternative, of course, would be to directly measure expectations from purpose-built surveys, as in the work by Anderson et al (2000), but this methodology, in addition of presenting problems of its own, it is unavailable to us. 7 In the theoretical literature, this is known as the "alignment effect".…”