To date there has been few systematic and comparative empirical analyses of the nature of economic development in Brazil, Russia, India, China and South Africa (BRICS). We contribute to addressing this gap by exploring the patterns of structural change between 1980 and 2010, focusing on the...

Traditional economic theory posits that a well functioning capital market is a necessary condition for industrialization and economic growth. However, in reality it is observed that micro and small enterprises are ubiquitous because entrepreneurs can set up business in low-return activities with...

Based on a cross-country comparison of dynamic new firms, this paper attempts to characterize Latin American middle-class entrepreneurs and their firms. In general, Latin American middle-class entrepreneurs tend to face more difficult conditions in terms of resources and skills acquisition than...

The one-month confinement (or doing the month, DM) for post-partum women is a tradition that has been practiced for millennia in Chinese society. Tedious preparations and numerous procedures of DM incur high transaction costs when purchasing the service from the market. To assure the practice of...