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...

A stock exchange and the presence of functioning equity markets are part and parcel of an advanced market-based financial system. Previous research has also established that equity markets function more efficiently in the presence of supporting institutions such as property rights and rule of...

There is a consensus among scholars that institutions (i.e. norms and regulations) are country specific. The paper aims to contribute to the debate by examining the type of institutions which have been the most important for growth in transition countries. It employs a new set of the...