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Entrepreneurship in Transition Economies: The Role of Institutions and Generational Change

Estrin, S; Mickiewicz, T; (2011) Entrepreneurship in Transition Economies: The Role of Institutions and Generational Change. In: The Dynamics of Entrepreneurship: Evidence from Global Entrepreneurship Monitor Data.

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Abstract

© Oxford University Press, 2013. Transition economies have lower rates of entrepreneurship than most developed and developing market economies. The difference is even more marked in the countries of the former Soviet Union than those of Central and Eastern Europe. The chapter links these differences partly to the legacy of communist planning, and the need to replace it with formal market-supporting institutions. Many of these changes, however, have now taken place. To analyze this longer term issue, the chapter highlights the necessarily slow pace of development of new informal institutions and the need to rebuild generalized trust. The chapter argues that changes are slower in the former Soviet Union than Central and Eastern Europe because communist rule was much longer, leading to a generational lack of institutional memory.

Type: Book chapter
Title: Entrepreneurship in Transition Economies: The Role of Institutions and Generational Change
ISBN-13: 9780199580866
DOI: 10.1093/acprof:oso/9780199580866.003.0009
UCL classification: UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > SSEES
URI: http://discovery.ucl.ac.uk/id/eprint/94341
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