Most of the time the budget constraints in the socialist economies were harder than in developing countries and no less hard than in developed countries. The soft budget constraints (SBC) in socialist economies were not pervasive, as most authors believe, but selective, i.e. involved...

Globalization has been hailed as removing the need for company location as an issue. However, there remains a strong tendency for some industries to form geographical clusters. This book examines the reasons for this trend