Entrepreneurship and Innovation
Notes 1. This indicator was the percentage of firms experiencing at least one bribe payment request across six public transactions dealing with utilities access, permits, licenses, and taxes. 2. A foreign-owned firm is defined as a firm with at least 10 percent ownership by a foreign individual or company. 3. When compared to Armenia, the Czech Republic, Poland, Russia, or Turkey. 4. The Czech Republic, Poland, Russia, and Turkey. 5. In another exercise the contribution of innovation to firm growth was compared in Southern Caucasus countries and ECA-10 countries. The equation is similar to equation 4.3 but with the addition of an interaction term between dummy variables for innovation activity i and country c. The coefficient is the parameter of interest. A significantly positive coefficient signals that innovation activity i contributes to higher growth when conducted by firms in country c. There were no significant estimates of the coefficient in this exercise.
Reference World Bank Enterprise Surveys (database) 2013. http://www.enterprisesurveys.org.
Fostering Entrepreneurship in Armenia • http://dx.doi.org/10.1596/978-1-4648-0064-1
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