Abstract
The paper aims to study the influence of the institutional determinants on the growth of small and medium enterprises (SMEs). First, Kosovo as one emerging economy and country in transition is analysed from the international business perspective. The main institutional factors faced by SMEs in Kosovo that are involved in international trade will be discussed based on new institutional theory. The study is based on interviews of firms in Kosovo, using a semi structured questionnaire, conducted in 2015. The econometric findings show that barriers caused by low levels of professional and ethics of officials in respective institutions, as well as frequent changes in complicated laws and regulations, have significant impact on higher transaction costs, which in turn represents a direct obstacle to the further growth of SMEs.
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