Purpose: This paper aims to highlight the possibility that the same cultural and/or institutional environment can differentially affect each of the two moments of entrepreneurship – opportunity identification and opportunity exploitation. It is possible that the cultural and institutional...

This paper argues that in order to understand West Indian economic underdevelopment, the saliency of the informal institutions that emerged during its colonial period and the effect these institutions have had on the emergence of a local entrepreneurial class can not be discounted. British...

Purpose: The purpose of this paper is to present and compare alternative theoretical frameworks for understanding entrepreneurship policy: targeted interventions to increase venture creation and/or performance. The authors contrast the Standard view of the state as a coherent entity willing and...

While markets are all around us, not all markets are the same. Markets come in a variety of colors based on the legality of activities in the specific market. As such, there is no market economy per se, but instead various shades of markets. The different shades of markets that are evidenced in...