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Financing Firm Start-up and Restructuring in Transition Countries: Evidence from Belarus, the Ukraine and Russia

  • Valentijn Bilsen
  • Elena Mitina
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    Investigates how entrepreneurs in Belarus, Russia and Ukraine finance start-up and restructuring. Data from 600 de novo, privatised or state-owned firms shows the critical importance of the personal funds of the main owner(s), with a limited level of support being giving by the state.

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    Paper provided by ESRC Centre for Business Research in its series ESRC Centre for Business Research - Working Papers with number wp150.

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    Date of creation: Dec 1999
    Date of revision:
    Handle: RePEc:cbr:cbrwps:wp150
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    1. Binks, Martin R & Ennew, Christine T, 1996. " Growing Firms and the Credit Constraint," Small Business Economics, Springer, vol. 8(1), pages 17-25, February.
    2. Lindh, T. & Ohlsson, H., 1995. "Self-Employment and Self-Financing," Papers 1995-01, Uppsala - Working Paper Series.
    3. Cornelli, Francesca & Portes, Richard & Schaffer, Mark E, 1996. "The Capital Structure of Firms in Central and Eastern Europe," CEPR Discussion Papers 1392, C.E.P.R. Discussion Papers.
    4. Blanchflower, D. & Oswald, A., 1990. "What Makes A Young Entrepreneur?," Papers 373, London School of Economics - Centre for Labour Economics.
    5. Valentijn Bilsen & P Van Maldegem, 1999. "Foreign Direct Investment and Enterprise Performance in Transition Countries: Evidence from Russia and Ukraine," ESRC Centre for Business Research - Working Papers wp144, ESRC Centre for Business Research.
    6. repec:tpr:qjecon:v:104:y:1989:i:4:p:671-98 is not listed on IDEAS
    7. Lizal, Lubomir & Svejnar, Jan, 1998. "Enterprise Investment During the Transition: Evidence from Czech Panel Data," CEPR Discussion Papers 1835, C.E.P.R. Discussion Papers.
    8. Douglas Holtz-Eakin & David Joulfaian & Harvey Rosen, 1992. "Entrepreneurial Decisions and Liquidity Constraints," Working Papers 679, Princeton University, Department of Economics, Industrial Relations Section..
    9. Cressy, Robert, 1996. "Are Business Startups Debt-Rationed?," Economic Journal, Royal Economic Society, vol. 106(438), pages 1253-70, September.
    10. Leijonhufvud, Axel & Ruhl, Christof, 1997. "Russian Dilemmas," American Economic Review, American Economic Association, vol. 87(2), pages 344-48, May.
    11. Dunne, T. & Roberts, M.J. & Samuelson, L., 1988. "The Growth And Failure Of U.S. Manufacturing Plants," Papers 1-87-5, Pennsylvania State - Department of Economics.
    12. Andrzej Bratkowski & Irena Grosfeld & Jacek Rostowski, 2000. "Investment and Finance in "de novo" private firms: Empirical Results from the Czech Republic, Hungary and Poland," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 8(1), pages 101-116, March.
    13. Brito, Paulo & Mello, Antonio S., 1995. "Financial constraints and firm post-entry performance," International Journal of Industrial Organization, Elsevier, vol. 13(4), pages 543-565, December.
    14. Timothy Dunne & Mark J. Roberts & Larry Samuelson, 1989. "The Growth and Failure of U. S. Manufacturing Plants," The Quarterly Journal of Economics, Oxford University Press, vol. 104(4), pages 671-698.
    15. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
    16. K Liuhto, 1999. "The Transformation of the Soviet Enterprise and its Management: A Literature Review," ESRC Centre for Business Research - Working Papers wp146, ESRC Centre for Business Research.
    17. Hans Van Zon, 1998. "The Mismanaged Integration of Zaporizhzhya with the World Economy: Implications for Regional Development in Peripheral Regions," Regional Studies, Taylor & Francis Journals, vol. 32(7), pages 607-618.
    18. Evans, David S & Jovanovic, Boyan, 1989. "An Estimated Model of Entrepreneurial Choice under Liquidity Constraints," Journal of Political Economy, University of Chicago Press, vol. 97(4), pages 808-27, August.
    19. Van Praag, C Mirjam & Van Ophem, Hans, 1995. "Determinants of Willingness and Opportunity to Start as an Entrepreneur," Kyklos, Wiley Blackwell, vol. 48(4), pages 513-40.
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