a positive relationship between an individual's potential payoffs in working and in entrepreneurship. If some firms … consequence, the entrepreneurship rate falls with income per capita, average firm size and firm size dispersion increase with … income per capita, and entrepreneurship out of necessity falls with income per capita. The paper also documents, for two of …

Policy makers find it difficult to promote economic development through entrepreneurship and SMEs. In this paper we … argue that this is because the positive impact of entrepreneurship is overestimated and its negative impact underestimated …. It is moreover also because there is no unified scientific approach towards the role of entrepreneurship in economic …

In this paper we review the literature on the impact that monetary policy has on growth and employment in developing … sometimes on output (GDP) levels and volatility of output. This survey of the literature on Monetary policy and growth shows … that money plays a small role in developing countries and that monetary policy is not a very important influence on growth …

productivity growth, i.e. bad times, "increase the political support for more labor market rigidity only where labor appropriates …

We construct an endogenous growth model that includes a cultural variable along the dimension of individualism … innovation in an individualist culture. This cultural effect may offset the negative effects of bad institutions on growth … individualism on growth through innovation. Using genetic data as instruments for culture we provide strong evidence of a causal …

different growth trajectories if they differently motivate risk-taking. Historically, risk sharing institutions were selected … based on their cultural and institutional compatibility and not their unforeseen growth implications. We simulate our growth … previous growth-theoretic models to highlight that transitions can transpire even in the absence of exogenous productivity …