This paper argues that globalization has led to a shift in developed countries from an industrial to an entrepreneurial model of production. Globalization is interpreted as a level shock in the supply of unskilled labor to the world economy, a decrease in the level of political risk associated...

The present paper refers to the field of "corporate convergence theory". A recent work on corporate convergence of Krishna et al. (2002) points out that there is little evidence that common standards in corporate fovernance have been implemented.Besides, in the same study (page 2) it is...