The paper studies financing constraints for R&D over the latest boom and bust episode in Central and Eastern Europe (CEE). Given that financial and venture capital markets in CEE are thin in comparison to those in high-income economies and that many of CEE countries experienced a credit crunch...

The process of European integration has introduced a valuable empirical example on the impact of economic integration on income convergence. Many empirical papers confirm the income convergence within the new member states and between the new and old members. At the same time it is found that...