Introduction and Aims Entrepreneurship and the business environment, in general, are being influenced by the existence of formal and informal institutions. This study focuses on the negative versus positive perceptions of Moroccan, Chinese, and German entrepreneurs to formal and informal...

After the fall of state socialism about two decades ago, democracy and market economies were assumed to diffuse worldwide. However, the American financial crisis of 2008, leading to a worldwide economic crisis caused increasing criticism of capitalism. As laissez-faire capitalism, Keynesianism...