NATALIIA V. OSTAPENKO
Estimation of Influence of Institutional Environment on Development of Small Business
(original language – Russian)
The weak development of the economy, the lack of effective mechanisms for enhancing economic growth actualized the issues of support and stimulate of small business sector as a hidden locomotive of development of the national economy. In article is analyzed the impact of key informal institutions on development of small businesses, in particular cultural patterns of behavior and the level of corruption of officials. Author defined the role of the culture and mentality of population on development level of the national economy. Author analyzed the development of the small business sector, and identified the main predictors of this process, among which are the level of GDP per capita, the level of the shadow economy, the level of interest rates on borrowings, as well as the quality of institutions in the national economy.
Key words: culture, development, informal institutions, institutional environment, small businesses.
Placed in №3, 2013.
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