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Ecosystem of entrepreneurship: risks related to loss of trust in stability of economic environment in Kazakhstan

Author

Listed:
  • Yelena Petrenko

    (South Ural State University, Russian Federation)

  • Nurlan Iskakov

    (Almaty Management University, Kazakhstan)

  • Oleg Metsik

    (Institute of Economics, the Ural Branch of Russian Academy of Sciences, Russian Federation)

  • Tatyana Khassanova

    (South Ural State University, Russian Federation)

Abstract

Favorable ecosystem of entrepreneurship plays crucial role for successful development of small and medium enterprises (SMEs) and their sustainability. One of preconditioms of encouraging business environment is its’ stability, and trust in long-term stability. Meanwhile the global economic crisis has created a state of economic and political instability, what consequently affected trust of business entities, and therefore contributed to increase of social and economic risks. The article discusses the decline of trust in the entrepreneurship of Kazakhstan, examines the causes and consequences of loss of confidence as an important institutional resource.

Suggested Citation

  • Yelena Petrenko & Nurlan Iskakov & Oleg Metsik & Tatyana Khassanova, 2017. "Ecosystem of entrepreneurship: risks related to loss of trust in stability of economic environment in Kazakhstan," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 5(1), pages 105-115, September.
    • Handle: RePEc:ssi:jouesi:v:5:y:2017:i:1:p:105-115
    DOI: 10.9770/jesi.2017.5.1(8)
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    Citations

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    Cited by:

    1. Jan Dvorsky & Zora Petrakova & Jiri Polach, 2019. "Assessing The Market, Financial And Economic Risk Sources By Czech And Slovak Smes," International Journal of Entrepreneurial Knowledge, Center for International Scientific Research of VSO and VSPP, vol. 7(2), pages 30-40, December.
    2. Anna Shevyakova & Yelena Petrenko & Gaukhar Koshebayeva & Dmitry Ulybyshev, 2022. "Peculiarities of Housing and Communal Services and the Difficulties of Implementing Energy-Saving Technologies: The Case of Kazakhstan," Energies, MDPI, vol. 15(20), pages 1-18, October.
    3. Yelena Petrenko & Igor Denisov & Gaukhar Koshebayeva & Valeriy Biryukov, 2020. "Energy Efficiency of Kazakhstan Enterprises: Unexpected Findings," Energies, MDPI, vol. 13(5), pages 1-20, February.

    More about this item

    Keywords

    entrepreneurship ecosystem; trust; business risks; economics; Kazakhstan; Small and Medium-sized Enterprises (SMEs); corruption; state;
    All these keywords.

    JEL classification:

    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • P40 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - General
    • P47 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Performance and Prospects

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