Pioneers for Profit: St. Petersburg Entrepreneurs in Services |
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| Authors: | de Melo, Martha Ofer, Gur Sandler, Olga |
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| Affiliation: | Martha de Melo is with the Policy Research Department at the World Bank; Gur Ofer is with the Department of Economics at the Hebrew University in Jerusalem; and Olga Sandler is an independent consultant. The authors thank Leila Webster, Alan Gelb, and three anonymous referees for advice and the Leontief Center in St. Petersburg for logistical support in the conduct of the surveys. |
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| Abstract: | Russian private entrepreneurs in services are truly pioneering,because many services especially trade, financial services,and most business and consumer servicesare poorly developed.This article uses 1992 and 1993 survey data from St. Petersburgto assess the characteristics of these entrepreneurs, theirfirms, and the markets in which they deal. Evaluation of thefirms' performance establishes how well they are doing and providesinsight into the determinants of success. Their performancewas surprisingly good and can be attributed to several factors,including the existence of a substantial gap between the desiredand the actual levels of many services and the high level ofeducation and motivation of the entrepreneurs themselves. Policypriorities are to achieve macroeconomic stability, a transparentlegal framework and simplified regulations, a well-designedtax code, further privatization of real estate, and better accessto finance. Direct assistance programs would be useful in providinginformation, counseling, and financing to small and medium-sizefirms. |
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