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Economies in Transition: The Beginnings of Growth

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... This process is characterised by the development of the private sector and changes in the role of the state, i.e., shifting from market intervention to better policymaking and regulation, though still carries out interventionist policies and maintains its supportive role in a less active way. Only the countries that pave the way for economic liberalisation, where prices are set by market forces are considered the countries with transitional economies where central planning decreases gradually over time (Fischer, Sahay, & V egh, 1996). Similar to other developing countries, there is a push to promote private sector in Iran and, at the same time, to curtail government involvement in the economy and encourage better governance. ...
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The NTBFs have attracted growing interest from most of the transitional economies as they are seen as an important source of greater value added creation while being characterised with higher rate of return on capital. Shedding light on the growth determinants of new technology-based firms not only helps managers to accomplish organisational goals but also assists policymakers in devising effective strategies. The role of individual, organisational as well as environmental factors in the development of the new technology-based firms has been separately addressed by many researchers. The simultaneity of these factors leads to diverse configurations, each of which envisaging different growth paths for the firm. The aim of this paper is to identify the growth paths for the new technology-based firms. To this end, Some interviews were conducted with the managers of the developed new technology-based firms in Iran (as a transitional economy) and the key themes governing the growth pattern of this group of firms have been identified using the thematic analysis, while possible growth paths for these firms were established by means of qualitative comparative analysis. The designed questionnaires were distributed among 22 developed firms and 8 underdeveloped firms for the period 2013–2015 and the obtained data were analysed using the FSQCA software, which led us to the development of dominant growth path for new technology-based firms. Based on the findings of this paper and factors affecting the growth of firms, two growth paths are suggested for the new technology-based firms, of which the one with greater role for government is more likely to take place. Communication with government officials and lobbying groups in the field of science and technology as the key customer in transitional economies is critical to the corporate growth, which has been identified as a sufficient condition for this research.
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Bu çalışmada, 1995-2009 dönemine ait veri ve panel veri yöntemleri kullanılarak 10 eski Sovyet ler Birliği üyesi ülkede Wagner yasasının geçerli liği incelenmiştir. Wagner yasası ekonomik gelişme sonucu kamu faaliyetinde artış olmasını ifade etmektedir. Bu çalışmada uygulanan panel eşbütünleşme analizi kamu harcamaları ve gelir düzeyi değişkenlerinin koentegre olduklarını göstermektedir. İki aşamalı En Küçük Kareler yöntemine dayanan panel nedensellik ve hata düzeltme modeline dayanan geleneksel Granger nedensellik sınamaları nedensellik ilişkisinin ekonomik büyümeden kamu harcamalarına doğru tek yönlü olduğunu göstermektedir. Wagner yasasının matematiksel ifadesi olan regresyonların sabit etkiler ve rassal etkiler yöntemlerine göre tahmin sonuçları da gelir düzeyi arttıkça kamu sektörünün büyüdüğü fikrini kısmi olarak desteklemektedir. Bulgular dan hareketle, eski Sovyetler Birliği ülkeleri için Wagner yasasının geçerli olduğu sonucuna varılmıştır. This study tests Wagner’s law for a panel of 10 former Soviet Union member countries over the period of 1995-2009. Wagner’s law indicates that government activities expand together with economic development. Empirical results from panel co-integration test suggest that there is long-run equilibrium relationship between go vernment expenditure and income level. Results of panel causality test that based on two stages lest square model and traditional Granger causa lity test that based on error correction model show that there is unidirectional causality run ning from economic growth to government expenditure expansion. Finally, fixed and random effect estimations of five Wagner’s law regressi ons give some evidences that increase in income level expands government activities. These results suggest that Wagner’s law holds in former Soviet Union countries.
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