The influencing factors in the business environment of the Visegrád Group in the last ten years and their comparison to Russia's experience

Objective examination of development of the business environment in the Central and Eastern European Visegraacuted Group Czech Republic Slovak Republic Poland and Hungary in the last ten years 2004ndash2014 by determining its influencing factors and comparison of the results with the experience of the Russian Federation. Methods approximation of the business environment with the help of five businessentity oriented indicators and analysis of relationship between them and their influencing factors i.e. areas of competitiveness in the definition of the Heritage Foundation based on correlation analysis time series cointegration model and a specific panel cointegration model. Research results the characteristic feature of the business environment in the Visegraacuted Group was adapting to integration into regional and global value chains. The main influencing factors of these changes were fiscal trade and investment freedoms to a lesser extent ndash freedom from corruption as well as membership in the European Union. The development in the Russian Federation was focused on concentration of business activities improving all indicators of the business environment and being caused by third factors. Scientific novelty first major complex study on the business environment in the Visegraacuted Group and in Russia published in the Russian Federation. Practical value better insight in the development of the business environment in the Central and Eastern European economies and in Russia which can be used in macroeconomic policies of the Russian Federation. nbs