We survey the literature on venture capital and institutions and present a case study comparing the development of the …

, who are renowned specialists in the area and with deep knowledge of the pertinent institutions in Sweden and the US. These …

exceptionalism: Sweden became rich because of well-functioning capitalist institutions, and inequality was low before the expansion …

basic premise is that entrepreneurship is a central driver of economic renewal and change, and that institutions affect both … the supply and direction of entrepreneurship. While local institutions always develop and operate against the backdrop of … and stringency of enforcement) and informal (e.g., attitudes and social legitimacy) institutions. We further argue that …