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Building a segment of small business in the period of transformations: institutional peculiarities

The study considers a model of relative demand-supply for an aggregated segment of small business, and a model of an individual's rational market behaviour. Our econometric calculations show that, when the reforms started, the labour demand in the segment of small business depended on such indicators as a ratio of incomes in new sectors to the incomes in traditional sectors, and the level of the population's previous cash accumulations and their inclinations towards risks. Entrepreneurs' trust toward local authorities and the relatively high economic potential of regional institutes induced the higher labour demand in the segment of small business

Basareva V. G. [email protected]

Keywords: small business entrepreneurial risk self-employment system of simultaneous equations method of assessment