The focus of the paper is on evaluating the productivity gap between rural and urban locations in the UK using micro data. We build a structural model of the unobservable productivity emphasising the link between productivity and spatial density of economic activity and adapt the semi-parametric...

A conceptual framework for analyzing the credit rationing and the link between credit access and profitability is developed. The empirical analysis using data from manufacturing firms in Bulgaria, provides direct estimates of credit rationing and its impact on profitability in transition...

In this paper we investigate to what extent firm investment in transition countries is sensitive to internal finance. We use accounts data of over 4000 companies in four countries at different stages of transition. We find that firms in Bulgaria and Romania are less sensitive to internal...

Within a structural model we explicitly allow for the trade orientation of companies to estimate productivity dynamics within 4-digit UK manufacturing industries. We use the FAME data on UK companies over the period 1994-2003. Following Ackerberg et al. (2005) we adjust the algorithm in Olley...

This paper investigates the effects of the Common Agricultural Policy (CAP) payments on the indirectly generated non-farm jobs in small and medium-sized enterprises, which are central to job creation. It examines whether there are differences in the effect according to business location –...

This paper is motivated by the fact that (part-time) individual farming is commonly observed among rural households in a number of transition economies but it is not clear prima facie if such resource allocation is optimal. A conceptual model of household labor allocation between individual...

The focus of analysis is on the impact of financial leverage as a measure of bankruptcy costs on enterprise restructuring, conditional on the budget constraints in the economy. Data of Bulgarian manufacturing firms allow comparison of firm behavior under soft and hard budget constraints as...

This paper examines the impact of bilateral real exchange rate volatility on real exports of five emerging East Asian countries among themselves as well as to thirteen industrialised countries. We explicitly recognize the specificity of the exports between the emerging East Asian and...