Title of article
Investment and financial constraints in transition economies: micro evidence from Poland, the Czech Republic, Bulgaria and Romania
Author/Authors
Jozef Konings، نويسنده , , Marian Rizov، نويسنده , , Hylke Vandenbussche، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2003
Pages
6
From page
253
To page
258
Abstract
We investigate to what extent firm investment in transition countries is sensitive to internal finance. We find that firms in Bulgaria and Romania are less sensitive to internal financing constraints, in contrast to firms in Poland and the Czech Republic. A likely explanation is that Bulgaria and Romania experience a stronger persistence of soft budget constraints than the other two more advanced countries
Keywords
Soft budget constraint , Transition to a market economy , Financial constraints , Investment
Journal title
Economics Letters
Serial Year
2003
Journal title
Economics Letters
Record number
435112
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