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Letting free market work: the need for policy and legal reform
Simasius, Remigijus |
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| The paper presents findings of a survey on business climate in Lithuania. It identifies issues most problematic from the point of view of small and medium size business start-ups, singles out areas that require governmental involvement, and offers policy recommendations. High taxes, bureaucracy, lack of starting capital, instability of legal framework, corruption and inability of the state to uphold property rights were named by participants of the survey as problems of their utmost concern. The paper draws attention to such evils as unfair competition and government interventions in the economy, bureaucratic restrictions upon entry and corruption that discourage business development – areas where improvement can be made with due determination of the government. From the policy point of view the paper proposes critical revision of existing licensing procedures so as to ensure free market entry by business start-ups. |
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