Footnote:
Literatuverz. S. 28 - 29
Auch im Internet unter der Adresse ftp://129.187.96.124/CESifo_WP/212.pdf verfügbar
Description:
Is investment constrained more by insecure property rights or by limited external finance? For five transition economies in Eastern Europe and the former Soviet Union we find that weak property rights limit the reinvestment of profits in startup manufacturing firms. Access to credit does not appear to explain differences in investment. At least in the early stages of post-communist reform, retained earning appear to have been enough to finance the investments that managers wanted to make.