Randolph L. Bruno

  • Current position:
    Lecturer in Economics, University College London, UK
  • Positions/functions as policy advisor:
    Short-term Consultant for the World Bank (WB); Project Leader for the Department for International Development (DFID); Research expert on publications for the European Commission
  • Research interest:
    Labor economics, industrial economics, applied micro-econometrics, comparative and development economics
  • Website:
  • Affiliations:
    University College London, UK, Rodolfo DE Benedetti Foundation, Italy, and IZA, Germany
  • Past positions:
    Lecturer in Business Economics, University of Birmingham Business School, 2010–2012; Teaching Fellow in Economics, University College London, 2009–2010; Research Fellow in Economics, University of Bologna, 2006–2009
  • Qualifications:
    PhD Economics and Management, Laboratory of Economics and Management, Sant’Anna School of Advanced Studies, Pisa (IT), 2006
  • Personal statement about IZA World of Labor:
    World of Labor fills an important gap in the dissemination of high quality research outputs among an audience of policymakers and practitioners alike by explaining how to tackle academically informed research questioned in an accessible language. This is very promising way to improve the impact of research on policy, as constantly required by politicians, businessman and institutional economic players
  • Selected publications:
    • “The impact of foreign direct investment on economic performance in the enlarged Europe: A meta-regression analysis.” In: Temouri, Y., and C. Jones (eds). International Business and Institutions after the Financial Crisis. London: Palgrave Macmillan, 2014 (with M. Cipollina).
    • “Institutional determinants of new firm entry in Russia: A cross regional analysis.” Review of Economics and Statistics 95:5 (2013): 1740–1749 (with M. Bytchkova and S. Estrin).
    • “Labor market policies and outcomes in the enlarged EU.” Journal of Common Market Studies 48:3 (2010): 661–685 (with R. Rovelli).
    • “Joining longitudinal and cross-section data for efficiency gains.” Giornale degli Economisti 68:1 (2009): 149–173 (with M. Stampini).
    • “Optimal speed of transition with a shrinking labor force and under uncertainty.” Economics of Transition 14:1 (2006): 69–100.
  • Articles

New firms entry, labor reallocation, and institutions in transition economies

In transition economies, better property rights protection and rule of law enforcement can boost job creation and growth

September 2015

10.15185/izawol.180 180

by Randolph L. Bruno Bruno, R

In the transition from central planning to a market economy in the 1990s, governments focused on privatizing or closing state enterprises, reforming labor markets, compensating laid-off workers, and fostering job creation through new private firms. After privatization, the focus shifted to creating a level playing field in the product market by protecting property rights, enforcing the rule of law, and implementing transparent start-up regulations. A fair, competitive environment with transparent rules supports long-term economic growth and employment creation through the reallocation of jobs in favor of new private firms.