The Success of Small Countries or What’s Wrong With Being XXL in the World Economy?

... small advanced economy counterparts, writes Valdai Club Programme Director Yaroslav Lissovolik. “Small is beautiful” in the corporate world and the efficiency and innovation of small and medium-sized companies is duly reflected in the large share of SMEs in developed economies’ GDP (in many cases 50% of GDP and more) and labour force. But is this pattern also observed at the level of countries, whereby small economies turn out to be more successful and innovative compared to their large counterparts?...