Business Environment and Labor Market Outcomes in Europe and Central Asia Countries

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dc.creatorLopez-Garcia, Paloma
dc.date2012-06-21T20:48:34Z
dc.date2012-06-21T20:48:34Z
dc.date2006-04
dc.date.accessioned2026-07-01T01:25:32Z
dc.descriptionNew firm entry has been fundamental for job creation in the transition economies. Hence, the urge to reform the framework in which firms operate. This paper aims to improve our understanding of the business environment of the Europe and Central Asia (ECA) countries, as well as to assess which of the institutions that shape it are most important for labor market performance. To achieve that aim, the author groups the institutions into those affecting firm entry and those affecting business survival and growth, and proceeds to construct indicators to summarize them. Next, she analyzes the impact of the business environment institutions on the employment generated by the private sector of the countries, proxied by the service employment rate. The regression analysis uses an unbalanced panel of 28 ECA countries over 14 years-from 1988 to 2002. Recent literature on the labor market performance of the OECD countries argues that what matters for employment is the interaction between institutions and shocks. Accordingly, the explanatory variables used in the regression are the interactions between the transition shock suffered by the ECA countries and each of the business environment institutions previously defined. The author finds that access to finance is the most important institution across all ECA countries. The development of the financial sector can explain about 40 percent of private employment creation in the European transition economies according to the model. On the other hand, the poor access to finance in Bulgaria, Croatia, and above all, Romania, is the main factor behind their poor development of the private sector. Market regulation (credit and labor regulation), start-up costs, and the tax burden are all found to significantly affect employment as well.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2006/04/6727780/business-environment-labor-market-outcomes-europe-central-asia-countries
dc.identifierhttps://hdl.handle.net/10986/8722
dc.identifierhttps://doi.org/10.1596/1813-9450-3885
dc.identifier.urihttp://hdl.handle.net/123456789/417974
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper; No. 3885
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectAGGREGATE DEMAND
dc.subjectAGGREGATE EMPLOYMENT
dc.subjectAGGREGATE SUPPLY
dc.subjectAGRICULTURE
dc.subjectBANK LOANS
dc.subjectBANKRUPTCY
dc.subjectBUSINESS ENVIRONMENT
dc.subjectCOLLECTIVE BARGAINING
dc.subjectCOMPANY
dc.subjectCOMPETITIVENESS
dc.subjectCONTRACT ENFORCEMENT
dc.subjectCORPORATIONS
dc.subjectCORRELATION ANALYSIS
dc.subjectCYCLICAL UNEMPLOYMENT
dc.subjectDISPLACED WORKERS
dc.subjectDISPLACEMENT
dc.subjectECONOMIC PERFORMANCE
dc.subjectECONOMIC SECTORS
dc.subjectEMPLOYMENT
dc.subjectEMPLOYMENT GROWTH
dc.subjectEMPLOYMENT LEVEL
dc.subjectEMPLOYMENT OUTCOMES
dc.subjectEMPLOYMENT PERFORMANCE
dc.subjectEMPLOYMENT PROTECTION LEGISLATION
dc.subjectEMPLOYMENT RATE
dc.subjectEMPLOYMENT RATES
dc.subjectENTREPRENEURIAL ACTIVITY
dc.subjectENTREPRENEURS
dc.subjectENTREPRENEURSHIP
dc.subjectENTRY BARRIERS
dc.subjectEXISTING BUSINESSES
dc.subjectEXPANSION
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL SECTOR
dc.subjectFIRM ENTRY
dc.subjectFIRM SIZE
dc.subjectFIRMS
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectHIGH UNEMPLOYMENT
dc.subjectINFLATION
dc.subjectINFORMAL ECONOMY
dc.subjectINFORMAL SECTOR
dc.subjectJOB CREATION
dc.subjectJOB DESTRUCTION
dc.subjectJOBS
dc.subjectLABOR MARKET
dc.subjectLABOR MARKET INDICATOR
dc.subjectLABOR MARKET INDICATORS
dc.subjectLABOR MARKET INSTITUTIONS
dc.subjectLABOR MARKET OUTCOMES
dc.subjectLABOR MARKET PERFORMANCE
dc.subjectLABOR MARKET REGULATION
dc.subjectLABOR MARKET REGULATIONS
dc.subjectLABOR MARKETS
dc.subjectLABOR REGULATION
dc.subjectLABOUR
dc.subjectLABOUR FORCE
dc.subjectLABOUR MARKET
dc.subjectLABOUR MARKET PERFORMANCE
dc.subjectLARGE ENTERPRISES
dc.subjectLAW FIRMS
dc.subjectLOW UNEMPLOYMENT
dc.subjectMACROECONOMIC POLICIES
dc.subjectMARKET ECONOMIES
dc.subjectMARKET ECONOMY
dc.subjectMINIMUM WAGES
dc.subjectNATURAL RATE OF UNEMPLOYMENT
dc.subjectPRELIMINARY ANALYSIS
dc.subjectPREVIOUS SECTION
dc.subjectPRICE CONTROLS
dc.subjectPRIVATE
dc.subjectPRIVATE EMPLOYMENT
dc.subjectPRIVATE SECTOR
dc.subjectPROPERTY RIGHTS
dc.subjectPUBLIC EMPLOYMENT
dc.subjectPUBLIC SECTOR EMPLOYMENT
dc.subjectREAL INTEREST RATE
dc.subjectREGRESSION ANALYSIS
dc.subjectRETAIL
dc.subjectRETAIL TRADE
dc.subjectSERVICE EMPLOYMENT
dc.subjectSERVICE SECTOR
dc.subjectSMALL BUSINESSES
dc.subjectSMALL FIRMS
dc.subjectSPREAD
dc.subjectTOTAL EMPLOYMENT
dc.subjectTRANSITION ECONOMIES
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT BENEFITS
dc.subjectUNEMPLOYMENT RATE
dc.subjectVENTURE CAPITAL
dc.subjectWORKER
dc.subjectWORKERS
dc.titleBusiness Environment and Labor Market Outcomes in Europe and Central Asia Countries

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