This paper draws on evidence from the last two centuries of industrialisation, analysing the evolution of energy intensity over the long- and short-run. We argue that the increased specialisation of the fuel mix, coupled with accelerating convergence of both the sectoral and technological...

This paper assesses the results of a major survey of privatised enterprises in Russia, examining the financial environment in which firms operate. We find that the three sources of finance analysed (the domestic banking sector, the state and equity markets) are strongly influenced by the...