entrepreneurial elite, resulting in economic policy and institutions which are more conducive to entrepreneurship and productivity …

entrepreneurship. Here, we investigate analytically and quantitatively the trade-off between transaction costs saved and creative …

defend their monopoly position and prevent innovation and entry of high-quality competitors. This requires that the incumbent … quality upgrade related to innovation. Consistently with our empirical findings, the model delivers a negative association …

We empirically investigate whether the persistence of politicians in political institutions affects the innovation …’ innovation activity. However, once the causal effect is isolated by means of instrumental variables, using death of politicians … persistence and the probability of process innovation. This finding is consistent with the view that political stability may …