Comparative analysis of some EU member states and EU associated countries to identify the phenomenon of business development in post-socialist countries

Economic Annals-ХХI: Volume 163, Issue 1-2, Pages: 22-25

Citation information:
Ivashchenko, A., & Оrlova, N. (2017). Comparative analysis of some EU member states and EU associated countries to identify the phenomenon of business development in post-socialist countries. Economic Annals-XXI, 163(1-2), 22-25. doi: https://doi.org/10.21003/ea.V163-04

Alla Ivashchenko
PhD (Economics),
Associate Professor,
Kyiv National Economics University named after Vadym Hetman
54/1 Peremohy Ave., Kyiv, 03680, Ukraine
alla.ivashchenko@kneu.edu.ua
ORCID ID: http://orcid.org/0000-0002-4599-7137

Nataliya Оrlova
D.Sc. (Public Administration),
Professor,
Borys Grinchenko Kyiv University
18/2 Bulvarno-Kudriavska Str., Kyiv, 04053, Ukraine
nsorlova78@gmail.com
ORCID ID: http://orcid.org/0000-0003-0785-751X

Comparative analysis of some EU member states and EU associated countries to identify the phenomenon of business development in post-socialist countries

Abstract. The authors of the article have analysed different conditions and the level of business development which exist in post-socialist countries by using international methodologies such as «Doing Business» and «BDO International Business Compass». The main aim of the article is to outline the main features of every economy analysed by different criteria in order to identify the level of business development and its constraints in the period of 2012-2016 in countries such as the Czech Republic, Poland, Latvia, Lithuania, the Slovak Republic, Hungary, Estonia, Bulgaria, Moldova, Georgia and Ukraine. The presented analysis proves that some countries hold the leading positions in performing business (Estonia, Georgia and the Czech Republic), whereas others do not have such favourable conditions (Moldova and Ukraine). The authors described some of the advantages of the mentioned methodologies, among which are big databases, different categories of parameters, possibilities to overview risks and market potential and opportunities to make relevant comparisons. The disadvantages include a lack of corruption level assessment methods and the availability of financial and loan instruments for business. It has been proved that it is reasonable to use international ratings to avoid information asymmetries and to assess economy by different aspects.

Keywords: Business Development; Economic Conditions; Rating Methodology; Country Ranking; Post-socialist Country

JEL Classіfіcatіon: F23; F42; F47; G38

DOI: https://doi.org/10.21003/ea.V163-04

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Received 15.11.2016