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Did EU accession improve efficiency of firms from transitional countries?

Author

Listed:
  • Jenifer Piesse

    (Bournemouth University and University of Stellenbosch)

  • Dragana Radicic

    (University of Cambridge)

  • Allan Webster

    (Bournemouth University, Executive Business Centre)

Abstract

This empirical study examines the effect of EU accession on firm efficiency in a sample of 27 transitional countries using data from the 2005 and 2013 BEEPS surveys. Using stochastic frontier analysis and a separate propensity score matching approach it finds a statistically significant association between EU membership and firm performance in both cross-sections. Since EU membership involves more than the liberalisation required for the single market it also uses propensity score matching to find a statistically significant association between EU membership and the internationalisation of firms in transitional countries. Finally it uses inverse probability weighted regression adjustment (IPWRA) to test the proposition that stronger firm performance in transitional countries was associated with firms with higher levels of internationalisation (exports and foreign ownership). Our results support the view that EU membership enhanced firm efficiency in new members from transitional economies and that internationalisation was an important mechanism in that process.

Suggested Citation

  • Jenifer Piesse & Dragana Radicic & Allan Webster, 2016. "Did EU accession improve efficiency of firms from transitional countries?," BAFES Working Papers BAFES03, Department of Accounting, Finance & Economic, Bournemouth University.
    • Handle: RePEc:bam:wpaper:bafes03
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    File URL: https://repec.bmth.ac.uk/bam/wp/BAFES03.pdf
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    More about this item

    Keywords

    firm efficiency; productivity; European Union; transition;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development

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