An extensive empirical literature has documented the positive growth effects of equity market liberalization. However, this line of research ignores the impact of financial integration on a category of firms crucial for economic development, i.e. the small entrepreneurial firms. This paper aims...

Innovation is a driving force for enhancing firms' efficiency and productivity. The importance of innovation is also recognized at economy level, namely increase in R&D and innovation activities will help the creation of new jobs, prosperity and improvement of the standards of living. In order...