Business Management

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  BUSINESS INTERNATIONALISATION IN LOW COMPETITIVE ECONOMIES

  The article deals with the theo nationalisation. It presents the results of researching the processes of import substitution and export orientation of Russian enterprises, as well as the authors’ ideas about the scientific and methodological approaches to the development of models and stages of business internationalisation at the present stage. ... The article deals with the theo nationalisation. It presents the results of researching the processes of import substitution and export orientation of Russian enterprises, as well as the authors’ ideas about the scientific and methodological approaches to the development of models and stages of business internationalisation at the present stage. The article also explains the sequence of the new phases of transition at the initial stage of expansion on the domestic market and accessing foreign markets.

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  ESTIMATING BULGARIA’S TRADE BORDERS WITH THE EU AN APPLICATION OF THE EMPIRICAL GRAVITY MODEL OF TRADE

  We use the empirical gravity model of international trade to evaluate the borders in manufacturing trade between Bulgaria and the European Union (BG-EU). Our results suggest that in 2006 the BG-EU border was quite large and not statistically different from the average border in our sample of 69 countries. As expected, our estimates confirm that ... We use the empirical gravity model of international trade to evaluate the borders in manufacturing trade between Bulgaria and the European Union (BG-EU). Our results suggest that in 2006 the BG-EU border was quite large and not statistically different from the average border in our sample of 69 countries. As expected, our estimates confirm that the trade border between Bulgaria and the EU members was very large, and much larger than the average sample border, before the collapse of communism. The border fell sharply in the early to mid-90s, but it followed the average sample trend since then. We also document weak asymmetries in the BG-EU border in favor of EU exports to Bulgaria. Our results point to a series of extensions and further analysis.

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