This paper presents an empirical analysis of the factors which promote entrepreneurial activity across a number of transition, developing and developed countries. It produces results which highlight the importance of institutions in promoting entrepreneurial activity. This work is part of an...

After the precipitated decline of the Soviet Empire and its satellite states, a system change seemed to be called for, and many countries embarked on social and political reforms focussing on property structures in the economy. This raised the issue of governance in the institutions that would...

The article analyses the effect of removing barriers between two autarkic legal markets with different technologies. Firms using the more efficient technology penetrate the other market. The result is mergers between firms from the efficient jurisdictions and those in the inefficient...