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1996 as compared 2mployment 2quipment Road Transport Agriculture Coal Albania Armenia bankruptcy procedures Beverage Non-Metallic Products Bulgaria cn cn control group firms creating special programs creditors descriptive statistics Djankov employment Enterprise Isolation Programs enterprise restructuring enterprises under isolation Evidence from Romania focus and control governments in transition hardened budget constraints indicators isolated and control isolated enterprises isolated firms isolation group June 1998 June Kazakstan Kyrgyz Republic labor shedding Lanjouw large loss-making enterprises Loss makers months of wages Non-Metallic Products Chemicals Number 42 o o o odd odd oo operational performance Ownership Fund Panel performance of firms Petroleum Food Policy Research privatization or liquidation Products Chemicals Metallurgy profitability Programs In Transition questions the feasibility redundancy payments regression analysis Road Transport Utilities Romanian isolation program Romanian program softer budget constraints standard deviations state-owned enterprises structural funds subsidies Treuhandanstalt Wilcoxon test World Bank Z-statistics Z-stats