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 …

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. …

for growth. To secure industrial dynamics and growth in the long term, institutions must be designed both to encourage … framework must include tax policy, labor market regulation, savings channeling, competition policy, housing market regulation …

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 …

, including the link between innovation and entrepreneurship, the role of institutions for entrepreneurship, and the tendency of …