The interplay between entrepreneurship and institutions is crucial for economic development; however, the view that … institutions determine the extent to which entrepreneurial activity is productive is only part of the story. We argue that … change. Through their actions, entrepreneurs have a fundamental influence on institutions, whether they abide by them …

Formal institutions, e.g., regulations, are considered crucial determinants of entrepreneurship, but what enables …

economies. Formal and informal institutions in such countries are often sub-par, but rather than being constrained by them …, entrepreneurship can often affect institutions and contribute to their evolution. We highlight three entrepreneurial responses to the … occurs. Better knowledge of entrepreneurial responses to institutions and the context in which they occur offers a promising …

. We analyze institutions and policies conducive to structural transformation, in particular the expansion of high … institutions that encourage the creation of HGFs and promote structural transformation. In particular, our analysis points to the …

model and the Hollywood motion picture industry to illustrate how specialized institutions that regulate these …. Schumpeterian entrepreneurs not only create new companies; they also create new institutions as an integral part of the … results from a Hayekian process of emergence fueled by business entrepreneurs’ efforts. Some institutions remain informal …

institutions. We present an alternative way of generalizing the notion of entrepreneurship and show how and why it encompasses the … of institutions constitutes an important set of entrepreneurial profit opportunities. An implication of this is that … entrepreneurial efforts to reform or offset inefficient institutions can in some cases be welfare-improving …

. Overall, the findings suggest that initial conditions and economic and political institutions matter for the structure and …

necessary to establish appropriate rules and institutions for school competition. Instead, ill-conceived grading and curriculum …-profit producers, must account for how institutions and incentive structures affect behavior. …