Konings, Jozef, Rizov, Marian and Vandenbussche, Hylke (2003) Investment and financial constraints in transition economies: micro evidence from Poland, the Czech Republic, Bulgaria and Romania. Economics Letters, 78 (2). pp. 253-258. ISSN 0165-1765
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18759 1-s2.0-S0165176502002100-main.pdf - Whole Document Restricted to Repository staff only 45kB |
| Item Type: | Article |
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| Item Status: | Live Archive |
Abstract
We investigate to what extent firm investment in transition countries is sensitive to internal finance. We find that firms in Bulgaria and Romania are less sensitive to internal financing constraints, in contrast to firms in Poland and the Czech Republic. A likely explanation is that Bulgaria and Romania experience a stronger persistence of soft budget constraints than the other two more advanced countries.
| Keywords: | Investment, Financial constraints, Soft budget constraint, Transition to a market economy |
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| Subjects: | L Social studies > L100 Economics |
| Divisions: | Lincoln International Business School |
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| ID Code: | 18759 |
| Deposited On: | 18 Sep 2015 08:04 |
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