This study analyses bank lending in the larger context of bank-firm relations within the Bulgarian specificity of currency board. It focuses on the 'intersection' of credit supply and demand on the side of banks and firms simultaneously. We suggest both traditional and new hypotheses...

This paper looks at corruption as noncompliant behavior. It argues that bribery is a substitute for being connected and statistically tests various forms of this proposition in the context of Bulgaria. This approach is tested with two illegitimate goals (hiding and circumvention) of economic...