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1. 2) From 2011 according to COICOP classification. 3) Domestic output prices. 4) Adjusted for domestic and foreign (US resp. EU) inflation. Values more than 100 mean real appreciation. 5) Excluding frozen foreign currency savings deposits of households. 6) Two-week repo rate. 7) Deflated with annual PPI. Source: wiiw Monthly Database incorporating national statistics.
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2. Almus, M. (2002), ‘What characterizes a fast-growing firm?’, Applied Economics, Vol. 34, No. 12, pp. 1497-1508.

3. BUDGET Central gov.budget balance, cum. RSD mn-71284-85966-82811-100249-1188-18849-27836-44997-49507-67261-83786-94037-97015-108633-119938 1) Enterprises with more than 50 employees.
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4. Central bank policy rate (p.a.) 2) %, eop 5.00 5.00 5.00 5.00 5.00 5.00 5.25 5.25 5.25 5.25 5.25 5.25 5.00 5.00 4.75 Central bank policy rate (p.a.) 2)3) real, %, eop 4.4 4.7 4.4 4.2 1.4 1.7 2.9 2.1 1.6 2.0 2.9 3.0 3.0 . . BUDGET General gov.budget balance, cum. ALL bn-24193-23433-23228-38031 1621-8904-11776-15910-20427-26910-30762-31190-31624-31709-37993 1) Adjusted for domestic and foreign (US resp. EU) inflation. Values more than 100 mean real appreciation. 2) One-week repo rate. 3) Deflated with annual PPI. Source: wiiw Monthly Database incorporating national statistics.
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5. Central bank policy rate (p.a.) 4) %, eop 4.50 4.50 4.50 4.11 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 Central bank policy rate (p.a.) 4)5) real, %, eop-4.0-4.7-2.7-4.8-7.7-7.8-9.8-8.2-6.0-6.3-5.1-6.4-5.5-4.3-5.8 BUDGET General gov.budget balance, cum. 6) MKD mn-6585-7718-8658-10542-667-2410-3726-3403-6461-7732-9001-9225 . . . 1) In business entities with more than 10 persons employed. 2) Domestic output prices. 3) Adjusted for domestic and foreign (US resp. EU) inflation. Values more than 100 mean real appreciation. 4) Central bank bills (28-days). 5) Deflated with annual PPI. 6) Central government budget plus extra-budgetary funds. Source: wiiw Monthly Database incorporating national statistics.
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6. Central bank policy rate (p.a.) 4) %, eop 6.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0 Central bank policy rate (p.a.) 4)5) real, %, eop 1.5 1.0 1.3 0.3 0.8-0.9-0.7-0.7-0.7 0.0-0.1-0.5-0.1-0.3-1.0 BUDGET Central gov. budget balance, cum. 6) HRK mn-9397-9064-10634-14432-1496-2836-5340-6026-7321-8617-9542-9436-10297-10133 . 1) Enterprises with 20 and more employees. 2) Domestic output prices. Including E - electricity, gas, steam, air conditioning supply etc. 3) Adjusted for domestic and foreign (US resp. EU) inflation. Values more than 100 mean real appreciation. 4) Average weighted repo rates. 5) Deflated with annual PPI. 6) Consolidated central government budget.
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7. Central bank policy rate (p.a.) 4) %, eop 7.75 7.75 7.75 7.75 7.75 7.75 7.75 7.75 7.75 7.75 7.75 7.75 7.75 7.75 7.75 Central bank policy rate (p.a.) 4)5) real, %, eop-9.6-10.0-9.4-9.3-8.8-11.3-10.5-10.9-9.3-10.2-10.5-10.1-11.1-7.3-8.1 BUDGET General gov.budget balance, cum. UAH mn-47454-51400-46662-64836 909 5025-712-2916 146-11144-8145-2105-3097-8040 . 1) Enterprises with 10 and more employees. 2) Domestic output prices. 3) Adjusted for domestic and foreign (US resp. EU) inflation. Values more than 100 mean real appreciation. 4) Discount rate. 5) Deflated with annual PPI. Source: wiiw Monthly Database incorporating national statistics.
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8. Central bank policy rate (p.a.) 4) %, eop 7.75 7.75 7.75 7.75 7.75 8.00 8.00 8.00 8.25 8.25 8.25 8.25 8.25 8.25 8.25 Central bank policy rate (p.a.) 4)5) real, %, eop 0.4-2.6-7.2-7.7-10.6-11.5-11.0-10.0-8.4-9.2-7.7-8.8-9.3-8.9-6.4 BUDGET Central gov.budget balance, cum. RUB bn-692.6-759.9-891.6-1812.0 147.5 78.5 178.1 163.1 385.2 703.5 756.2 788.7 1130.9 . . 1) Manufacturing industry only (D according to NACE Rev. 1). 2) Domestic output prices. 3) Adjusted for domestic and foreign (US resp. EU) inflation. Values more than 100 mean real appreciation. 4) Refinancing rate. 5) Deflated with annual PPI. Source: wiiw Monthly Database incorporating national statistics.
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9. CSV download € 140.00 € 98.00 1) covering time range from 1990 up to the most recent year 2) including long PDF plus hardcopy Orders from wiiw: via wiiw’s website at www.wiiw.ac.at, by fax to (+43 1) 533 66 10-50 (attention Ms. Ursula Köhrl) or by e-mail to koehrl@wiiw.ac.at.
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10. Economics editor:Leon Podkaminer The Vienna Institute for International Economic Studies (Wiener Institut für für Internationale Wirtschaftsvergleiche – wiiw) Rahlgasse 3, A-1060 Vienna, Austria, Tel. (+43 1) 533 66 10, Fax (+43 1) 533 66 10-50 Email: wiiw@wiiw.ac.at, Web: www.wiiw.ac.at
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11. Employees in industry, registered 1) th. persons, avg 2828 2841 2836 2818 2801 2807 2814 2812 2800 2802 2804 2804 2801 2802 . Unemployment, registered th. persons, eop 408 401 450 545 586 617 614 580 549 506 470 432 405 379 413 Unemployment rate, registered %, eop 1.5 1.4 1.6 2.0 2.1 2.2 2.2 2.1 2.0 1.8 1.7 1.6 1.5 1.4 1.5 Labour productivity, industry 1) CCPPY 12.6 12.2 11.8 11.8 11.5 12.4 11.3 10.0 10.0 10.0 10.0 10.1 9.8 9.4 . Unit labour costs, exch.r. adj.(EUR) 1) CCPPY 9.0 10.3 11.6 13.4 20.5 15.2 13.5 11.3 8.3 5.5 4.0 3.3 3.5 4.5 .
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12. Exports to EU-27 (fob), cumulated EUR mn 1094 1237 1391 1531 132 290 436 608 773 922 1059 1218 1398 1610 .
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13. Exports to EU-27 (fob), cumulated EUR mn 1463 1639 1822 1978 170 355 558 756 961 1181 1406 1587 1800 1998 .
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14. Exports to EU-27 (fob), cumulated EUR mn 3011 3405 3837 4230 342 873 1221 1626 2014 2456 2878 3247 3650 4054 .
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15. FOREIGN TRADE Exports total (fob), cumulated EUR mn 2674 2978 3317 3628 316 648 1009 1369 1722 2083 2438 2780 3155 3510 .
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16. FOREIGN TRADE Exports total (fob), cumulated EUR mn 5267 5948 6657 7383 542 1192 1964 2687 3359 4121 4857 5566 6276 7002 .
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17. Gibrat, R. (1931), Les Inégalités Économiques, Librairie du Recueil Sirey, Paris.
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18. Imports from EU-27 (cif), cumulated EUR mn 2314 2604 2887 3193 208 475 782 1077 1393 1780 2152 2437 2764 3098 .
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19. Imports from EU-27 (cif), cumulated EUR mn 5118 5757 6409 7061 469 1324 1801 2452 3127 3780 4457 5122 5856 6601 .
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20. Imports from EU-27 (cif), cumulated EUR mn 6620 7379 8243 9106 541 1166 1947 2705 3624 4377 5143 5845 6699 7500 .
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21. Imports total (cif), cumulated EUR mn 11156 12409 13804 15129 989 2079 3457 4752 6113 7325 8651 9762 11103 12379 .
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22. Imports total (cif), cumulated EUR mn 1226 1365 1508 1657 85 203 353 499 658 843 1019 1191 1364 1515 .
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23. Imports total (cif), cumulated EUR mn 2523 2823 3123 3475 254 524 831 1154 1480 1809 2150 2470 2795 3131 .
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24. Imports total (cif), cumulated EUR mn 2905 3281 3680 4119 420 813 1180 1641 2035 2422 2833 3278 3710 4108 .
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25. Imports total (cif), cumulated EUR mn 5073 5693 6307 6962 486 1057 1735 2392 3047 3771 4456 5120 5846 6556 .
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26. Imports total (cif), cumulated EUR mn 9526 10557 11739 12941 972 2035 3385 4543 5739 6881 8099 9191 10416 11641 .
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27. Krasniqi, B. (2006), ‘Size, Age and Firm Growth: Econometric Evidence from SME sector in Kosova’, International Journal of Management and Entrepreneurship, Vol. 2, No. 1, pp. 57-68.
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28. Krasniqi, B. (2007), ‘Barriers to entrepreneurship and SME growth in transition: the case of Kosova’, Journal of Developmental Entrepreneurship, Vol. 12, No. 1, pp. 71-94.

29. S T A T I S T I C S 20 The Vienna Institute Monthly Report 2012/1 C R O A T I A: Selected monthly data on the economic situation 2010 to 2011 (updated end of Dec 2011) 2010 2011 Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov PRODUCTION Industry, NACE Rev. 2 1) real, CPPY 3.0-5.9 0.2 0.9-5.2-2.7-3.0 0.2 1.2 1.8-0.6-4.5-2.3 2.1 . Industry, NACE Rev. 2 1) real, CCPPY-1.3-1.8-1.6-1.4-5.2-3.9-3.6-2.6-1.8-1.2-1.1-1.5-1.6-1.2 .
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30. S T A T I S T I C S The Vienna Institute Monthly Report 2012/1 17 STATISTICAL ANNEX Selected monthly data on the economic situation in Central, East and Southeast Europe NEW: As of January 2011, time series for the three Baltic countries – Estonia, Latvia, Lithuania – are included in the wiiw Monthly Database.
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31. S T A T I S T I C S The Vienna Institute Monthly Report 2012/1 19 B O S N I A and H E R Z E G O V I N A: Selected monthly data on the economic situation 2010 to 2011 (updated end of Dec 2011) 2010 2011 Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov PRODUCTION Industry, total 1) real, CPPY-1.2-0.1 2.0 8.7 17.5 6.6 8.0 3.2 2.3 10.4 10.1 4.5 1.8 0.6 . Industry, total 1) real, CCPPY 0.8 0.8 0.9 1.6 17.5 12.0 10.5 8.5 7.2 7.7 8.1 7.6 6.9 6.1 .
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32. S T A T I S T I C S The Vienna Institute Monthly Report 2012/1 23 S E R B I A: Selected monthly data on the economic situation 2010 to 2011 (updated end of Dec 2011) 2010 2011 Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov PRODUCTION Industry, NACE Rev. 2 1) real, CPPY 3.0-3.4-0.7-1.4 3.8 5.8 7.1 0.7 5.3 3.3-3.3-0.5-1.8-1.0 . Industry, NACE Rev. 2 1) real, CCPPY 4.2 3.3 2.9 2.5 3.8 4.9 5.7 4.4 4.6 4.3 3.2 2.7 2.1 1.8 .
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33. S T A T I S T I C S The Vienna Institute Monthly Report 2012/1 25 U K R A I N E: Selected monthly data on the economic situation 2010 to 2011 (updated end of Dec 2011) 2010 2011 Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov PRODUCTION Industry, total real, CPPY 10.5 10.6 10.6 13.3 9.6 11.8 8.2 5.4 8.9 9.3 8.9 9.6 6.6 4.7 3.8 Industry, total real, CCPPY 11.1 11.1 11.0 11.2 9.6 10.7 9.8 8.6 8.7 8.8 8.8 8.9 8.6 8.2 7.8 Industry, total real, 3MMA 10.3 10.6 11.5 11.2 11.6 9.8 8.3 7.5 7.9 9.1 9.3 8.4 6.9 5.0 . Construction, total real, CCPPY-12.6-9.2-8.2-5.4 6.1 6.1 6.8 11.6 13.2 14.5 13.6 13.0 11.4 11.7 12.5 LABOUR Employees total, registered1) th. persons, avg 10713 10718 10673 10578 10548 10543 10546 10565 10540 10554 10562 10541 10537 10539 .
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34. Trade balance with EU-27, cumulated EUR mn-2107-2351-2572-2831-127-451-580-825-1113-1324-1579-1875-2206-2547 .
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35. Trade balance with EU-27, cumulated EUR mn-2617-2816-3171-3632-134-408-782-910-1351-1692-1982-2372-2586-3060 .
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36. Trade balance with EU-27, cumulated EUR mn-851-965-1065-1215-38-120-224-321-432-599-747-850-964-1100 . FOREIGN FINANCE Current account, cumulated EUR mn-509 . . -766 . . -183 . . -497 . . . . . EXCHANGE RATE BAM/EUR, monthly average nominal 1.956 1.956 1.956 1.956 1.956 1.956 1.956 1.956 1.956 1.956 1.956 1.956 1.956 1.956 1.956 BAM/USD, monthly average nominal 1.503 1.408 1.429 1.481 1.465 1.434 1.399 1.356 1.361 1.360 1.369 1.365 1.416 1.430 1.438 EUR/BAM, calculated with CPI 3) real, Jan07=100 101.0 101.6 101.7 101.9 103.8 104.1 103.7 102.4 102.5 102.1 102.6 102.2 101.9 102.1 . EUR/BAM, calculated with PPI 3) real, Jan07=100 99.5 101.5 101.2 100.8 99.9 100.1 99.7 96.8 96.6 97.0 98.5 98.4 98.4 98.4 . USD/BAM, calculated with CPI 3) real, Jan07=100 101.8 109.5 108.3 105.1 107.3 109.9 112.3 114.4 113.7 113.3 112.4 112.4 108.4 108.2 . USD/BAM, calculated with PPI 3) real, Jan07=100 95.4 103.2 101.3 97.2 96.9 98.3 99.5 98.6 97.3 97.8 98.8 99.5 95.9 95.6 .
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37. Trade balance, cumulated EUR mn-1118-1261-1407-1622-215-369-497-680-802-930-1098-1264-1390-1468 .
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38. Trade balance, cumulated EUR mn-1657-1852-2050-2303-147-274-460-682-895-1106-1320-1544-1748-1963 .
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39. Trade balance, cumulated EUR mn-2399-2715-2990-3334-170-409-727-1023-1325-1688-2018-2340-2691-3046 .
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40. Trade balance, cumulated EUR mn-4259-4609-5082-5559-430-842-1421-1856-2380-2760-3242-3625-4140-4639 .
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41. Trade balance, cumulated EUR mn-4707-5057-5680-6226-336-735-1428-1771-2410-2841-3395-3833-4359-4968 .
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42. Unit labour costs, exch.r. adj.(EUR) 1) CCPPY-5.4-5.1-5.0-5.1-1.5-0.8-2.1-3.0-3.4-3.9-4.3-3.6-3.4 . . WAGES Total economy, gross HRK 7546 7650 7892 7806 7638 7483 7894 7750 7778 7907 7680 7910 7740 . . Total economy, gross real, CPPY-1.7-1.3-0.1-1.5-1.6-1.8-1.8-0.5-1.0-0.1-0.9 0.6 0.4 . . Total economy, gross EUR 1036 1045 1070 1056 1033 1010 1068 1053 1052 1067 1035 1061 1034 . . Industry, gross, NACE Rev. 2 EUR 939 932 990 968 921 894 957 934 945 974 930 959 930 . . PRICES Consumer PP 0.3 0.1 0.3 0.0 0.6 0.5 0.8 0.2 0.3-0.5-0.5-0.1 0.4 0.6 . Consumer CPPY 1.4 1.4 1.2 1.8 1.9 2.2 2.6 2.4 2.5 2.0 1.9 2.0 2.2 2.6 . Consumer CCPPY 0.9 1.0 1.0 1.1 1.9 2.1 2.2 2.3 2.3 2.3 2.2 2.2 2.2 2.2 .
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43. Verwaal, E. and B. Donkers (2003), ‘Customs-related Transaction Costs, Firm Size and International Trade Intensity’, Small Business Economics, Vol. 21, pp. 257-271.

44. Wasilczuk, J. (2000), ‘Advantageous competence of owner/managers to grow the firm in Poland: empirical evidence’, Journal of Small Business Management, Vol. 38, No. 2, pp. 88-94.
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45. Xheneti, M. (2006), ‘SME development in Albania – an empirical investigation of business growth’, Paper presented at the RENT XX Conference, Brussels, Belgium, 22 to 24 November.
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1. Inside the black box of high-growth firms in a crisis-hit economy: corporate strategy, employee human capital and R&D capabilities. (2022). Giotopoulos, Ioannis ; Caloghirou, Yannis ; Kontolaimou, Alexandra ; Tsakanikas, Aggelos.
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12. Determinants of Firm Failure: Empirical Evidence from China. (2016). Yang, Rudai ; He, Canfei.
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29. The Impact of Customs Procedures on Business Performance: Evidence from Kosovo. (2011). Holzner, Mario ; Peci, F..
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30. Persistence, Survival and Growth: A Closer Look at 20 Years of High-Growth Firms in Austria. (2011). Hölzl, Werner ; Holzl, Werner.
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31. Coping with the market: Are there cohort effects for organisations in transition?. (2011). Wyrwich, Michael ; Krause, Ina.
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32. Who do High-growth Firms Employ, and Who do they Hire?. (2011). Wennberg, Karl ; Johansson, Dan ; Daunfeldt, Sven-Olov ; Coad, Alex.
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33. Innovation, profitability and growth in medium and high-tech manufacturing industries: Evidence from Italy. (2011). Vezzulli, Andrea ; Mancusi, Maria ; Cozza, Claudio ; Malerba, Franco ; Perani, Giulio.
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34. What happens to gazelles? The importance of dynamic management strategy. (2010). Parker, Simon ; Storey, David ; Witteloostuijn, Arjen.
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35. Firm growth: empirical analysis. (2010). Hölzl, Werner ; Coad, Alex ; Werner Hölzl, .
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36. High-growth firms, innovation and the distance to the frontier. (2010). Hölzl, Werner ; Friesenbichler, Klaus ; Werner Hölzl, .
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37. Employment growth in newly established firms: is there evidence for academic entrepreneurs human capital depreciation?. (2009). Müller, Kathrin ; Muller, Kathrin.
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38. A Novel Approach to Incubator Evaluations: The PROMETHEE Outranking Procedures. (2009). Göthner, Maximilian ; Schwartz, Michael ; Gothner, Maximilian.
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39. Firm size and growth opportunities: a survey. (2009). Ninni, Augusto ; Arrighetti, Alessandro.
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40. Is the R&D behaviour of fast-growing SMEs different? Evidence from CIS III data for 16 countries. (2009). Hölzl, Werner ; Holzl, Werner.
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41. Beyond incubation: an analysis of firm survival and exit dynamics in the post-graduation period. (2009). Schwartz, Michael.
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42. Do productivity and ownership really matter for growth? Firm-level evidence. (2009). Ghosh, Saibal.
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43. Drivers and Effects of Internationalising Innovation by SMEs. (2008). Rammer, Christian ; Schmiele, Anja.
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44. Drivers and Effects of Internationalising Innovation by SMEs. (2008). Rammer, Christian ; Schmiele, Anja.
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45. Incubator Age and Incubation Time: Determinants of Firm Survival after Graduation?. (2008). Schwartz, Michael.
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46. Determinanti della domanda di laureati nellindustria manifatturiera italiana. (2008). Lasagni, Andrea ; curatolo, salvatore ; Arrighetti, Alessandro.
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47. Drivers and Effects of Internationalising Innovation by SMEs. (2008). Schmiele, Anja.
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48. Firm Growth: a Survey. (2007). Coad, Alex.
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49. Start-ups, firm growth and the consolidation of the French biotech industry. (2005). Avenel, Eric ; Corolleur, F. ; Rieu, C. ; Gauthier, C..
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50. Testing Gibrat’s Law: Empirical Evidence from a Panel of Portuguese Manufacturing Firms. (2003). Oliveira, Blandina ; fortunato, adelino.
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