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Institutional Determinants of New Firm Entry in Russia: A Cross Regional Analysis

  • R. L. Bruno
  • M. Bytchkova
  • S. Estrin

We investigate how the regional institutional environment—in particular, the political environment—affects Russian new firm entry across regions, industries, firm size classes, and time. We find that entry rates in Russia are explained by natural entry rates and the institutional environment. Industries that are characterized by low entry barriers in developed market economies are found to have lower entry rates in regions subject to greater political fluidity, as in the case of gubernatorial change. We also find that higher levels of political fluidity and democracy increase relative entry rates for small-sized firms but reduce them for medium-sized or large ones. © 2013 The President and Fellows of Harvard College and the Massachusetts Institute of Technology.

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Paper provided by Dipartimento Scienze Economiche, Universita' di Bologna in its series Working Papers with number 650.

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Date of creation: Oct 2008
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Handle: RePEc:bol:bodewp:650
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  16. Scarpetta, Stefano & Fally, Thibault & Aghion, Philippe, 2007. "Credit Constraints as a Barrier to the Entry and Post-Entry Growth of Firms," Scholarly Articles 4554208, Harvard University Department of Economics.
  17. Klapper, Leora & Laeven, Luc & Rajan, Raghuram, 2006. "Entry regulation as a barrier to entrepreneurship," Journal of Financial Economics, Elsevier, vol. 82(3), pages 591-629, December.
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  22. repec:oup:restud:v:53:y:1986:i:1:p:71-83 is not listed on IDEAS
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