book chapter · Oxford University Press eBooks · 2019
Economic Restructuring
Cited by 1Abstract and details only
Abstract
Technological progress, competition and trade, relative prices fluctuations, and changes of the institutional framework may require companies, industries, regions, or the whole national economy to undergo a process of significant restructuring. The transformation of the centrally planned socialist economies of Central and Eastern Europe to market economies offers us a natural laboratory to investigate how a transformational shock impacts the restructuring process. This chapter focuses on two basic components of this process. First, adjustments made by incumbent organizations (‘top-down’), and second, the opportunity for new businesses and organizations that complement or compete with the incumbents, entry into the marketplace (‘bottom-up’ transformation). The chapter highlights a variety of causes that forced incumbent firms to make adjustments, and demonstrates that the bottom-up component holds significant importance in such a process. This is particularly true if changes in the framework conditions are abrupt, and adjustments on the side of the incumbents are slow.
Cite this paper
Fritsch, M. (2019). Economic Restructuring. Oxford University Press eBooks, 480–485. https://doi.org/10.1093/oso/9780198829911.003.0046
Fritsch, Michael. “Economic Restructuring.” Oxford University Press eBooks, 2019, pp. 480–85, https://doi.org/10.1093/oso/9780198829911.003.0046.
Fritsch, Michael. 2019. “Economic Restructuring.” Oxford University Press eBooks: 480–85. https://doi.org/10.1093/oso/9780198829911.003.0046.
Fritsch, M. (2019) ‘Economic Restructuring’, Oxford University Press eBooks, pp. 480–485. Available at: https://doi.org/10.1093/oso/9780198829911.003.0046.
@incollection{fritsch2019economic,
title = {{Economic Restructuring}},
author = {Fritsch, Michael},
booktitle = {Oxford University Press eBooks},
pages = {480--485},
year = {2019},
doi = {10.1093/oso/9780198829911.003.0046}
}Made from the index record. Check names, capitalisation and page numbers against the paper. Need another style? AI for Research has over 10,000.