Economic theory provides various explanations for vertical integration but transaction costs seem to be a major determinant of backward, forward and lateral integration. The paper studies integration trends in the newly emerging Bulgarian pharmaceutical sector, seeking transaction cost...

Theoretically economic growth could have negative effects over the growing economy when production expands for products the world demand for which is inelastic. If growth occurs in sectors and for products the world demand for which is elastic it could be expected that total revenues to domestic...