Supportive institutional environments help build the foundations for innovative and productive entrepreneurship. A few post-Soviet countries have benefitted from international integration through EU membership, which enabled the development of democracy and free market principles. However, many...

The business environment in transition countries is often extraordinarily challenging for companies. The transition process these countries find themselves in leads to constant changes in the institutional environment. Hence, institutional voids prevail. These institutional voids cause...

Governments foster conducive conditions for entrepreneurs through functioning free markets and good governance. In most post-Soviet countries, these conditions are still missing. Lack of political will combined with a detrimental Soviet legacy towards entrepreneurs continues to stunt...

The knowledge based restructuring is taking into account the fact that after the inclusion of new entrants, ICT based changes are not solely related to the concept of the strategic restructuring of already existing companies. Using the BEEPS 2 data, we find that new firms and exporters are...

This paper presents a simple model for analysing the contribution of investments in physical and institutional infrastructure to the transition process. In addition to the direct cost savings, infrastructure investment generates important indirect effects, or transition impacts. The model shows...