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The Impact and Long-Term Consequences of the Anti-COVID-19 Legislature for SME’s Activity in Russian Regions

Student: Diana Kurtametova

Supervisor: Anna Tarasenko

Faculty: St.Petersburg School of Economics and Management

Educational Programme: Management and Analytics for Business (Master)

Year of Graduation: 2021

The paper is devoted to the study of the influence of the anti-Covid-19 legislature on the activity of small and medium-sized enterprises in the Russian regions in 2020. According to the theoretical framework, Covid-19 is unexpected crisis of 2020 which has impact on changing governmental laws to counter the spread of new coronavirus infection and provide national economics some antivirus law packages, including supportive and restrictive legislative measures. The Russian context demonstrates that almost all 20 supportive measures for Russian SMEs were introduced from April to September 2020, including tax reliefs, moratorium on bankruptcy procedure, deferred payments and taxes, concessional lending and other administrative measures. Restrictive anti-Covid-19 measures were aimed at prevention of the spread of coronavirus infection such as mass mode and operation of the pass system which serves as a proxy for measuring how serious the situation with Covid-19 positive in the Russian regions. Thereby, based on the 2SLS regression analysis of 83 the Russian regions, the influence of granted loans for SMEs support and the impact of the average age of the regional population were identified. The anti-Covid-19 legislative measures that provided incentive and concessional lending programs have a positive impact on the SME’s activity per capita in the regional context of Russia while the unemployment rate impacts the total amount of loans issued to SMEs in terms of their support. The average age of the inhabitants of the Russian regions impacts negatively and decreases the SME’s activity per capita.

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