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Firm Entry and Exit during a Crisis Period Evidence from Russian Regions

Ichiro Iwasaki (), Mathilde Maurel () and Bogdan Meunier

No 59, RRC Working Paper Series from Russian Research Center, Institute of Economic Research, Hitotsubashi University

Abstract: In this paper, we aim to empirically analyze the determinants of firm entry and exit in Russia using a regional-level panel data for the years of 2008-2014, with special emphasis on institutional failures and the politico-economic impact of external crises. We found that these two elements exhibit statistically significant and economically meaningful effects both on the creation and destruction of Russian firms, controlling for potentially explanatory factors. Our empirical results also suggest that the process of firm entry and exit is manifold across Russian regions due to their heterogeneity. Nevertheless, a surprisingly robust estimate of the world oil price (irrespective of the difference in target regions) suggests a possible high exposure of each Russian region to a global crisis. This comes from the importance of oil trade with the world and, accordingly, the ongoing crisis may bring a harmful influence to regeneration of Russian businesses.

Keywords: firm entry; firm exit; institutions; economic integration; crisis; Russia (search for similar items in EconPapers)
JEL-codes: D22 F15 G01 P31 P33 (search for similar items in EconPapers)
Pages: 19, [8] p.
Date: 2016-05
New Economics Papers: this item is included in nep-bec, nep-cis, nep-ent, nep-ger, nep-sbm and nep-tra
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Citations: View citations in EconPapers (7) Track citations by RSS feed

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http://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/27967/RRC_WP_No59.pdf

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Journal Article: Firm entry and exit during a crisis period: Evidence from Russian regions (2016) Downloads
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