711S. Musienko (som090788@yandex.ru),
Financial University under the Government of the Russian Federation, 49, Leningradskii Prosp., Moscow, 125993, Russian Federation;
A. Tulepbekova (aizhana83@gmail.com),
Center for Entrepreneurship Development, Economic Research Institute, 65, Temyrkazyk Str., Astana, Republic of Kazakhstan
Abstract. In the past 10 years, Russia improved position in Doing Business rating from 120th place to 35th. Kazakhstan also made enough achievement, rising from 70 th to 36 th position. The authors examine the World Bank ranking used for evaluating country’s business climate. A comparative analysis of main drivers and factors of the Doing business ranking system is made for evaluating its strengths and weaknesses as an evaluation tool. Authors explore correlation between Russian and Kazakhstan positions in Doing Business ranking system and other economic ratings showing country’s business health and macro-economic performance. Following that, authors give a detailed and precise explanation on structural reforms and bills passed by Russian and Kazakhstan governments regarding business activity improvement of small and medium enterprises, rating drivers increase and mitigation of prior negative factors. Another detailed comparative analysis is provided by authors regarding key structural improvements in small and medium enterprises regulations done by Russia and Kazakhstan which are also aimed to improve business environment. Analysis is given on legislation history of current laws regulating business activity. Summing it up, authors come to a conclusion, that even though Russia and Kazakhstan were way beyond their current positions in Doing Business rating back in 2000, currently their positions are much higher, even though success is achieved in different Doing Business ratios. However, despite a significant development in country’s business freedom there is still much to be achieved, specifically in foreign trade aspects in which Russia and Kazakhstan can mutually benefit together given that they are neighbors and both are members of the Eurasian trade treaty.
Keywords: Doing business, business climate, small and medium enterprises, Russia, Kazakhstan
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