Authors: de Melo, Marta; Ofer, Gur
Publication date: May 1994
This report presents the findings of a survey of private sector firms in St. Petersburg. Services are defined as all sectors of the economy other than agriculture, manufacturing, construction, and utilities. Services are the largest and most dynamic part of the emerging private sector in St. Petersburg and elsewhere in Russia, yet relatively little is known about private service firms. The report examines in some detail the characteristics of the city's new entrepreneurs and their firms. It discusses wages, prices, and the markets in which these firms operate, and it analyzes firm performance. Most entrepreneurs were highly educated, energetic and resourceful; their firms were typically small but growing, diversifying, and self-financing. Wages and prices are flexible, but markets are still poorly developed.
Publisher: World Bank