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-employment. -- Entrepreneurship ; Innovation ; Institutions ; Regulation ; Self-employment …
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-enforceable private contracts (regulation). However, because this mechanism is costly, its effectiveness depends on the aggregate … institutions and regulation is delayed for the later stages. At this point of time, the hold-up problem is solved and this spurs …
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Formal institutions, e.g., regulations, are considered crucial determinants of entrepreneurship, but what enables regulatory change when there is a regulatory void, meaning entrepreneurship clashes with existing regulations? Drawing on public choice theory, we hypothesize that regulatory freedom...
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