Employing a probit and Logit model, this paper demonstrates that small firm development, conceived of in terms of structural, behavior and performance features, is correlated with regional location in Poland. Regional GDP is also shown to be polarizing. The paper uses original data that samples...

Economic development connotes the complex process of structural and institutional changes by which poor countries attain the standard of well-being associated with the rich nations of the world. The measurement of economic development will begin with economic growth (the growth rate in national...

We study the impact of ambiguity on financial intermediation in an economy where agents have random liquidity needs. The ambiguity the agents face is modeled by the degree of confidence in their additive beliefs. We compare an optimal liquidity allocation with the allocation achieved by trade in...

Using a simple model with two levels of skill, we assume that high-skill workers who fail to get high-skill jobs may accept low-skill positions; low-skill workers so not have the analogous option of filling high-skill positions. This asymmetry implies that an adverse, skill-neutral shock to...

This paper investigates the information content of money, exchange rates, and foreign variables on real income and prices in the Dominican Republic. The results show that the change in the exchange rate -adjusted to account for financial conditions in the US- is a robust predictor of both real...

Polish small firm policy stresses the importance of tying support measures to firm performance and intention to grow. Polish small firms are smaller than their EU counterparts and are therefore considered to be at a competitive disadvantage. They are also vital for employment generation...

Two surveys of Polish small firms were carried out in Gdansk and Lublin in 1999. Four studies of these surveys, 2 descriptive and 2 statistical are summarised and analysed. This reveals the structure of the small firm sector, its expectations with respect to EU accession and its short term...

This paper models daily returns, volatility, and ‘news’ in the parallel foreign exchange market of a small developing economy, namely the Dominican Republic, during the period 1989-2001. The research adopts a non-linear specification that encompasses several members of the GARCH family. A...

This paper uses both cross-sectional and panel data on Chinese provinces over the reform period 1978-1998 to examine the pattern of China’s regional economic growth on the basis of a theoretical model on convergence. We find a tendency to converge in terms of real GDP per capita both...

This article analyses the development of economic growth in Brazil in terms of capital accumulation, following the Marxist approach. The aim is to identify the relationship between the two processes, looking at the profit rate, which along with investment effort determines productive investment....