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We examine the evolution of industrial output in Bulgaria, Hungary, Poland and Romania over the period 1989-1995 in …
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allocation, employs growth accounting in Bulgaria relative to a frontier country (Germany), and tries to explain the Total Factor … better and a "catching up" effect of Bulgaria’s Total Factor Productivity levels towards those of Germany has been observed …. Finally, the study provides policy recommendations facilitating the Invisible Hand Process in Bulgaria for a more rapid …
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