Equality, Participation, Transition: Essays in Honour of Branko Horvat

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enterprise collapse of this sort could do untold damage to the labourmanagement movement in transition economies; a nation-wide version of the reputation of employee-owned firms gained from the so-called ‘Benn co-operatives’ in the UK in the 1970s, and the Scottish Daily News (see, for example, Bradley and Gelb, 1980). 9.4 Conclusions I have argued that the transition process creates an exciting opportunity for those interested in the development of an employee owned sector. This is because, as a consequence of mass privatization, many workers in Central and Eastern Europe now own shares in the companies where they work: taken together, this often forms a majority or strategic stake. However, this is not enough to ensure that labour-management emerges as a significant form in these countries. The employee ownership which has developed is individual and highly dispersed: there are no mechanisms to convert ownership into control and many of the firms are non-viable. I have argued that the opportunity for labour-management should nonetheless be seized, at least in (probably a minority of) the firms that have a long-term potential. But to succeed, we need to learn the lessons from successful employee owned sectors in Western Europe and North America to formulate the legal framework, institutional rules and supporting agencies and structures to assist the evolution of these employee holdings into an effective labour-managed sector (see Uvalić and Vaughan-Whitehead, 1997). The lessons from the Yugoslav self-management experiment need also to be drawn and digested. This has become an urgent agenda for policy orientated research in this field, before the significant employee owned sector in these countries disappears either via bankruptcy or reversion to the capitalist form. Note 1 Of course, in practice almost all the countries applied all the methods. The figure refers to the main method of privatization. References Saul Estrin 159 Bartlett et al. (1992) ‘Labor-Managed vs. Private Firms: An Empirical Comparison of Cooperatives and Private Firms In Central Italy’, Industrial and Labor Relations Review, 46(1): 103–18. Belka, M., Estrin, S., Schaffer, M. E. and Singh, I. J. (1995) ‘Enterprise Adjustment in Poland: Evidence from a Survey of 200 Private, Privatised and State-Owned Firms’, CEP Discussion Paper, no. 233.
160 Self-Management, Employee Ownership and Transition Ben-Ner, A. (1984) ‘On the Stability of Cooperative Type of Organization’, Journal of Comparative Economics, 8(3): 247–60. Bonin, J., Jones, D. C., and Putterman, L. (1993) ‘Theoretical and Empirical Studies of Producer Cooperatives: Will ever the Twain Meet?’, Journal of Economic Literature, 31: 1290–320. Boycko, M., Schleifer, A. and Vishny, R. (1995) Russia Privatizing, Cambridge MA: MIT Press. Brada, J. C., Estrin, S., Gelb, A. and Singh, I. (1995) Restructuring and Privatization in Central Eastern Europe, Armonk: ME Sharpe. Bradley, K. and Gelb, A. (1980) ‘Worker Cooperatives as Industrial Policy: the Case of the Scottish Daily News’, Review of Economic Studies, 47: 665–78. Bradley, K. and Gelb, A. (1981) ‘Motivation and Control in the Mondragon Experiment’, British Journal of Industrial Relations, 19(2): 211–31. Cable, J. (1984) ‘Employee Participation in Firm Performance: A Prisoner’s Dilemma Framework’, Florence, European University Institute Working Paper, no. 126. Cable, J. and FitzRoy, F. R. (1980) ‘Productive Efficiency, Incentives and Employee Participation: Some Preliminary Results for West Germany’, Kyklos, 33: 100–21. Defourny. J., Estrin, S. and Jones, D. (1985) ‘The Effects of Workers’ Participation on Enterprise Performance – Empirical Evidence from French Cooperatives’, International Journal of Industrial Organization, 3(2): 197–217. Earle, J. S. and Estrin, S. (1996) ‘Employee Ownership in Transition’ in R. Frydman et al. (eds.), vol. 2, pp. 1–61. Earle, J. S. and Estrin, S. (1997) ‘After Voucher Privatization: The Structure of Corporate Ownership in Russian Manufacturing Industry’, CEPR Discussion Paper, no. 1736. Earle, J. S., Estrin, S. and Leshchenko, L. (1996) ‘Ownership Structures, Patterns of Control and Enterprise Behaviour in Russia’, in S. Commander, Q. Fan and M. Schaffer (eds.), Enterprise Restructuring and Economic Policy in Russia, EDI Development Studies, Washington, DC: The World Bank, pp. 205–52. Estrin, S. and Jones D. (1983) ‘The Effects of Worker Participation upon Productivity in French Producer Cooperatives’, Florence, European University Institute Working Paper, no. 68. Estrin S. and Rosevear, R. (1998) ‘Enterprise Performance and Corporate Governance in Ukraine’, Paper presented at the Workshop on Corporate Governance in Russia, London, London Business School, June. Estrin, S. and Stone, R. (1997) ‘A Taxonomy of Mass Privatization’ in I. W. Liberman, R. M. Desai and S. S. Nestor (eds.), Between State and Market – Mass Privatization in Transition Economies, Washington DC: World Bank; also in Transition, 7(1996, 11–12): 8–9. Estrin, S. (ed.) (1994) Privatization in Central and Eastern Europe, London and New York: Longman. Frydman, R., Gray, C., Hessel, M. and Rapaczynski, A. (1997) ‘Private Ownership and Corporate Performance: Some Lessons from Transition Economies’, Economic Research Report 97-28, CV Starr Center for Applied Economics. Frydman, R., Gray, C. and Rapaczynski, A. (eds.), (1996) Corporate Governance in Central Europe and Russia, Budapest: CEU Press.
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Equality, Participation, Transition
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First published in Great Britain 20
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vi Contents 9 Self-Management, Empl
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List of Figures 02.1 First Law of O
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x Foreword institution most dear to
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Notes on the Contributors Ivo Bića
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xiv Notes on the Contributors membe
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xvi Notes on the Contributors done
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xviii Notes on the Contributors pri
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Introduction: Branko Horvat - Beyon
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xxii Introduction Dame (1978), Univ
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xxiv Introduction theory led him to
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xxvi Introduction though friendly,
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xxviii Introduction The second pape
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xxx Introduction disciplines such a
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Branko Horvat: Select Bibliography
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xxxiv Branko Horvat: Select Bibliog
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xxxvi Branko Horvat: Select Bibliog
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xxxviii Branko Horvat: Select Bibli
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2 Horvat’s Contributions to Econo
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10 Horvat’s Contributions to Econ
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2 Individual Initiative, Entry and
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28 Egalitarianism On Its Own Thomas
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30 Egalitarianism On Its Own projec
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32 Egalitarianism On Its Own absenc
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34 Egalitarianism On Its Own tithin
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36 Egalitarianism On Its Own what s
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38 Egalitarianism On Its Own 100% 9
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40 Egalitarianism On Its Own contri
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42 Egalitarianism On Its Own anothe
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44 Egalitarianism On Its Own politi
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46 Egalitarianism On Its Own Eckel,
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4 Determinants of Cross-Country Inc
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50 Determinants of Income Inequalit
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56 GINI GINI 65 60 55 50 45 40 35 3
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Table 4.2 The regressions: dependen
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5 Illyrian Theories of Cooperative
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92 Employee Participation in Enterp
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EMPLOYEE RETURN ONLY PROFIT PROFIT
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100 Employee Participation in Enter
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7 Employee Involvement and the Mode
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104 Employee Involvement and the Mo
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106 Employee Involvement and the Mo
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Page 157 and 158: 8 Uneasy Symbiosis of a Market Econ
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Page 189 and 190: Table 9.1 Methods of privatization
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Page 223 and 224: 11 Growth Theory and Transition Eco
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Page 241 and 242: 202 Index economic growth - continu
Page 243 and 244: 204 Index Horvat, Branko - continue
Page 245 and 246: 206 Index neoclassical economics -
Page 247 and 248: 208 Index ‘third way’, 88, 104
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Equality, Participation, Transition: Essays in Honour of Branko Horvat

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