This paper deals with the process of industrial development that has been unfolding in Central and East-European Countries during the last two decades, with special focus on changes in international specialization induced by successive shifts in comparative advantage. As it was to be expected,...

Inter-industry trade and foreign trade are usually not based on cash transactions; rather sales on credit are the rule. The resulting monitoring costs for lenders and the risk of default on accounts receivable form an additional part of transaction costs in trade. Export credit certainly faces...

Inter-industry trade and foreign trade are usually not based on cash transactions; rather sales on credit are the rule. The resulting monitoring costs for lenders and the risk of default on accounts receivable form an additional part of transaction costs in trade. Export credit certainly faces...