In this paper we investigate to what extent firm investment in transition countries is sensitive to internal finance. We use accounts data of over 4000 companies in four countries at different stages of transition. We find that firms in Bulgaria and Romania are less sensitive to internal...

This paper compares the wage cost and productivity differentials between Belgium and Portugal, being the EU benchmarks for high and low labor costs, with those in the three leading emerging economies of Central and Eastern Europe, Poland, Hungary and the Czech Republic. To this end we use firm...

This paper uses a unique representative firm level data set to analyse the effect of domestic and international competitive pressure and ownership changes in three emerging economies, Bulgaria Poland and Romania. Our main findings can be summarized as follows: Domestic competitive pressure,...

This paper uses firm level panel data to investigate empirically the effects of direct foreign investment (DFI) on the productivity performance of domestic firms in three emerging economies of Central and Eastern Europe, Bulgaria, Romania and Poland. To this end and unique firm level panel data...