The use of social sanctions against behaviour which contradicts a set of informal rules is often an important element in the functioning of informal institutions in traditional societies. In the social sciences, sanctioning behaviour has often been explained in terms of the internalisation of...

The significance of global environmental issues have been further propelled to the forefront, with the current public awareness highlighted by the 2007 United Nations Intergovernmental Panel on Climate Change, Al Gore's global warming statements and the Stern review. As the most populous nation...

The purpose of this paper is to nuance the widely held view that well-functioning institutions are the ultimate prerequisite for innovation and entrepreneurship. This is done by putting the spotlight on the role that formal and informal institutions have in serving the economic status quo,...