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| Author: | Kim, B-Y. Kang, Y. |
| Title: | The informal economy and the growth of small enterprises in Russia |
| Journal: | Economics of transition
2009 : VOL. 17:2, p. 351-376 |
| Index terms: | russia informal economy small business |
| Language: | eng |
| Abstract: | This paper estimates the determinants of the informal economy and examines the relationship between the informal economy and the growth of legally registered small private enterprises during the transition period using Russian regional data. An estimate of the size of the informal economy in each Russian region from 1992 to 1999 is obtained. An analysis is performed to find whether reform progress and institutional qualities account for the informal economy. An evaluation of the links between the informal economy and the growth of small enterprises within Russia is then carried out. The findings indicate that Russia's informal economy resulted from a delay in reform and low qualities of institutions. The growth of small enterprises is positively affected by the informal economy. These results indicate that the informal economy helped entrepreneurial activities to grow in the face of government failure, but these informal activities tend to become official over time. |
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