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2009 | nr 115 | 139--155
Tytuł artykułu

Oddziaływanie barier działalności gospodarczej na aktywność przedsiębiorstw - analiza logitowa

Warianty tytułu
Logit Models for Analysing an Impact of Market and Institutional Barriers on Performance of Manufacturing Firms in Poland
Języki publikacji
W niniejszym artykule podjeto próbę zbadania wpływu barier rynkowych i instytucjonalnych na aktywność gospodarczą mierzoną wielkością produkcji, wykorzystując w tym celu dane z testu koniunktury IRG SGH w przemyśle przetwórczym i narzędzia analizy logitowej. (fragment tekstu)
Macroeconomics doctrine postulates using relevant fiscal and monetary policy instruments to stimulate business activity, nonetheless practitioners are usually of the opinion that removing or reducing institutional barriers to doing business or freeing market forces of adjustment frictions might be found effective. As a result in the long run, they say, the space for economic freedom will expand and an economy will boost. In the paper we try to study the validity of this proposition through construction of a series of logit models for which the dependent variable takes the form of manufacturing production volume changes and the explanatory variables (leads and lags are tested as well) are represented by data on barriers to business activity. The data come from BTS run quarterly by the RIED amongst Polish NACE D firms. As the aforementioned assertion presumes the firms' adaptability to changes in their business environment, we apply discrete choice analysis techniques to identify the firms' reactions to the market and institutional barriers they did face in years 1997-2008. Eleven types of barriers are used m the study: (1&2) insufficient domestic and foreign demand; (3) lack of qualified workforce; (4) lack of raw materials; (5) insufficient equipment; (6) low financial liquidity; (7) low credit accessibility; (8) unfavourable credit terms; (9) law instability; (10) tax burden and (11) competitive import. The analysis clearly shows that: (1) the greatest negative impact on business performance, measured by manufacturing production volume, is exerted by those barriers which are perceived by respondents of the survey the least onerous, ie insufficient equipment and lack of raw materials; (2) market barriers are stronger determinants of production decisions than institutional ones; and (3) the joint effect of the barriers is much stronger than a sum of individual effects, ie when each constraint acts separately. We call this a (negative) synergy effect that makes barriers (when pooled) create such market and institutional conditions for doing business which firms find extremely difficult to handle. This may justify 'small-steps' policy towards eliminating or dismantling barriers to business activity. (original abstract)
Opis fizyczny
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