BEYOND POLICY SNAPSHOTS: A LONGITUDINAL COHORT ANALYSIS OF SMALL BUSINESS SURVIVAL RATES FOLLOWING MACROECONOMIC LIBERALIZATION

Abstract

This study synthesizes the secondary literature to assess long-term impact of macroeconomic liberalization on small and medium-sized enterprises (SME). While the deregulation of economy creates fierce competition and the incentives for growth, the contemporary research relies mostly on data acquired after the policy realization. It reveals a glaring gap in the most literature: the absence of longitudinal panel research, tracking the whole life-cycle and long-term strategic evolution of the firms after policy implementation. Based on the analysis of highly cited literature, the company survival factors are classified into the following categories: the access to financial capital, technological modernization, and evolution of complex socio-political relations, which ultimately requires extended long-term frameworks to account for continuous evolution dynamics.