This paper explores the business cycle in Bulgaria and the Baltic countries: Estonia, Latvia and Lithuania during the 1993-2005 period. The paper aims at deepening the understanding of the nature of output fluctuations. The neoclassical approach will be employed, much in the spirit of the Real...

The main focus of the paper is the growth process in transition countries in the period 1992-2002, by taking the production function approach. The empirical crosssection study performed found that initial life expectancy and net savings speed up growth while death rate, inflation, and terms of...