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Institutional Determinants of New Firm Entry in Russia: a Crossregional Analysis

Bruno, RL; Bytchkova, M; Estrinc, S; (2011) Institutional Determinants of New Firm Entry in Russia: a Crossregional Analysis. (Economics Working Papers 114). Centre for Comparative Economics, SSEES, UCL: London, UK. Green open access

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Abstract

We analyse a micro-panel data set to investigate the effect of regional institutional environment and economic factors on Russian new firm entry rates across time, industries and regions. The paper builds on novel databases and exploits inter-regional variation in a large number of institutional variables. We find entry rates across industries in Russia are not especially low by international standards and are correlated with entry rates in developed market economies, as well as with institutional environment and firm size. Furthermore, industries that, for scale or technological reasons, are characterised by higher entry rates experience lower entry within regions affected subject to political change. A higher level of democracy enhances entry rates for small sized firms but reduces them for medium or large ones.

Type:Working / discussion paper
Title:Institutional Determinants of New Firm Entry in Russia: a Crossregional Analysis
Open access status:An open access version is available from UCL Discovery
Publisher version:http://www.ssees.ucl.ac.uk/wp114sum.htm
Language:English
Keywords:Entry rate, institutions, democracy
UCL classification:UCL > School of Arts and Social Sciences > SSEES (School of Slavonic and East European Studies)

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