Political and legal institutions affect the extent to which the real exchange rates of oil-exporting countries co …-move with the oil price. In a simple theoretical model, strong institutions insulate real exchange rates from oil price …

direction of entrepreneurial activity. Four key institutions are explored more closely: property rights protection, savings … policies, taxation and the regulation of labor markets. Institutions have far-reaching effects on entrepreneurship, and they … entrepreneurship to the institutional setup it is maintained that in-depth analyses of specific institutions are required in order to …