Extant studies examine the role of financial constraints on the international activity of the firms. However, they are mostly focused on the manufacturing sector, traditionally perceived as tradable. The literature recently recognized the growing role of service sector in international trade,...

This article analyses correlation of demand and supply shocks between the EMU and the CEECs in order to see whether there is some degree of business cycle coordination between them. The main interest is to investigate the impact on Croatia and compare it with other CEECs. Information on the...