January 2000 - In Bulgaria and other transition economies, liquidity constraints and hence access to external funds … allocation of funds. Liquidity constraints in Bulgaria may be seen as a sign of financial weakness. Budina, Garretsen, and de … Jong use firm level data on Bulgaria to investigate the impact of liquidity constraints on firms' investment performance …

important for firm investment during the current transition process in Bulgaria. We use a simple accelerator model of investment … to test whether liquidity constraints are relevant in the case of Bulgaria. Our estimations are based on data for the … constraints may actually be seen as a sign of financial weakness in the case of Bulgaria …