Ecosystem of entrepreneurship: risks related to loss of trust in stability of economic environment in Kazakhstan

Elena Petrenko, Nurlan Iskakov, Oleg Metsyk and Tatyana Khassanova
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Elena Petrenko: SUSU - South Ural State University
Nurlan Iskakov: Almaty Management University
Oleg Metsyk: Institute of Economics, The Ural Branch of Russian Academy of Sciences
Tatyana Khassanova: SUSU - South Ural State University

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Abstract: Favorable ecosystem of entrepreneurship plays crucial role for successful development of small and medium enterprises (SMEs) and their sustainability. One of preconditioms of encouraging business environment is its' stability, and trust in long-term stability. Meanwhile the global economic crisis has created a state of economic and political instability, what consequently affected trust of business entities, and therefore contributed to increase of social and economic risks. The article discusses the decline of trust in the entrepreneurship of Kazakhstan, examines the causes and consequences of loss of confidence as an important institutional resource.

Keywords: Kazakhstan; economics; business risks; state; corruption; SMEs; entrepreneurship ecosystem; trust (search for similar items in EconPapers)
Date: 2017-09-29
New Economics Papers: this item is included in nep-cis, nep-cse, nep-cwa, nep-ent, nep-env and nep-tra
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Published in Entrepreneurship and Sustainability Issues, 2017, 5 (1), pp.105 - 115. ⟨10.9770/jesi.2017.5.1(8)⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01724560

DOI: 10.9770/jesi.2017.5.1(8)

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