After the rapid and dramatic demise of the Soviet Union in 1991, 15 newly autonomous republics are restructuring their economies after decades of central Communist planning. The three Baltic states of Latvia, Lithuania and Estonia had successful market-oriented economies during more than two...

This paper provides an overview of how globalization can impact on new firm formation and its consequence on regional economic development. Although there is a large body of research on new firm formation, the economic context in which new firm formation takes place has received considerably...