The development of regulatory systems varies between transition and non-transition economies. This suggests that they … economies are poorer relative to those in non-transition economies, but their financial and labor markets are more developed …. Alternatively, this finding suggests that a stringently regulated credit market in non-transition economies have a selection effect …

patterns differ across transition and non-transition economies. The analysis finds that age is inversely related with gross job … relationship between age and job destruction is indifferent in non-transition economies. On the contrary, old firms in transition … creation in the two groups. However, there is divergence between the two samples; small firms in non-transition economies also …