Socio-Cultural Practices and Restrictions of Entrepreneurship in Transition Russia
The Sixth Annual Meeting of Chinese Hayek Society, Shue Yan University, 2010
Posted: 7 Feb 2011
Date Written: August 6, 2010
Russia has experienced a radical economical and political change since the end of the 1980s. As a transition economy, Russia needs to usher in the entrepreneurial activities to transform from the self-interest disparaged communism to the capitalism, which encourages profit-seeking. After two decades of transformation into market system, Russian small and medium enterprises have not only contributed significantly to overcoming the transitional depression and fast growth but also created enormous employment opportunity. This paper attempts to investigate real entrepreneurial practices and restrictions confronted during the economic transition in Russia. The comparative study based on data of relevant international surveys like Doing Business Index or Global Entrepreneurship Monitor between Russia and other transition countries or Russia and good-practice economies merits our understanding of how entrepreneurs adapt to the new environment in order to create competitive advantages.
Keywords: Entrepreneurship, post-socialistic transition economy, Doing Business Index (DBI), Global Entrepreneurship Monitor (GEM), Russia
JEL Classification: M13, P37, P51
Suggested Citation: Suggested Citation