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Small and Medium-Sized Business and Institutional Environment

Vera Barinova – Head of Innovation Economy Department of the Gaidar Institute; Head of Business Issues Studies Department and Leading Researcher of the Center for Economic Modeling of Power Industry and Environment, Institute for Applied Economic Studies, Russian Presidential Academy of National Economy and Public Administration. Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Yulia Tsareva – Research fellow of the Business Issues Studies Department, Institute for Applied Economic Studies, Russian Presidential Academy of National Economy and Public Administration. Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

A survey carried out by RANEPA experts showed that institutional factors were playing a key role in the development of small businesses and micro enterprises. Medium-sized businesses are more resilient to institutional environment features. Their number usually depends on the population size and extension of available markets.

Key words: small and medium enterprises, microenterprises, institutional environment, institutional factors.