FEATURES OF SMALL BUSINESS DEVELOPMENT IN THE CIS COUNTRIES: DOES INSTITUTIONAL ENVIRONMENT AFFECT

• Main Author: Nataliia Viktorovna Ostapenko
• Format: Article
• Language: English
• Published: University of Bacău 2014-07-01
• Series: Studies and Scientific Researches: Economics Edition
• Subjects: small businesses; the trajectory of previous development; institutional environment; GDP; development; growth rate; share
• Online Access: http://sceco.ub.ro/index.php/SCECO/article/view/234

The article analyzes the development of small businesses at the national level through a comparative analysis between the former Soviet countries – Ukraine, Russia, Belarus, Kazakhstan, Uzbekistan, and Kyrgyzstan. These countries are comparable by the previous path dependence (the period of the USSR, communism), by the position of the geographical location, as well as by similarity of cultural development. As can be seen from the analysis, which was conducted in article, the quantitative characteristics of small business development in the above countries are similar, based on the dependence on foreign markets and conditions in national economies. However, qualitative indicators of small business development in these countries are different. These differences can be attributed to the activities of the institutional environment (formal and informal institutions) and its impact on the national economy. Conclusions about the effectiveness of quality of development of small business sector through the analysis of its contribution to the national economy are done.