In this paper we explore the relationship between the individual decision to become an entrepreneur and the institutional context. We pinpoint the critical roles of property rights and the size of the state sector for entrepreneurial activity and test the relationships empirically by combining...

This Paper considers the emergence of institutions as a political outcome, arguing that the support for protection of private property rights is stronger the higher is the economy's aggregate income and the more equal its distribution. When these conditions initially hold, the politically...

What determines the quality of entrepreneurs? To address this question, the paper proposes a simple model of the interaction between individual workers’ decision to become entrepreneurs and established firms’ effort to keep their best workers and ideas. The main prediction from the model is...

Purpose – The purpose of this paper is to examine the feasibility of adopting a market‐based land use model, Transfer of Development Rights (TDR), which is very popular in America and other countries as a positive land use control mechanism for conservation, in an evolving socialist land...

Purpose – This paper aims to examine the relationship between aspects of a country’s institutional environment and entrepreneurial investors’ overall rate of return. Design/methodology/approach – Specifically, monetary stability and property rights are tested against both...

Purpose The purpose of this paper is to examine differences in property institutions in the USA and India and their effects on agricultural productivity. Design/methodology/approach This paper undertakes a case study of industrial organization of agriculture, comparing agricultural development...

Purpose The purpose of this paper is to extend the literature on entrepreneurship and corruption by examining the link between productive and unproductive entrepreneurial activities as moderated by economic freedom. Specifically, the authors hypothesize that various aspects of economic freedom...

The article examines the issue of free speech in a law and economics perspective. The property rights approach is contrasted with the common law and constitutional standpoints. Consequentialist and market efficiency may not provide adequate criteria for judging limitations to freedom of speech....

Mass privatization is one form of changing the property rights regime of formerly publicly‐owned means of production in the former peoples’ republics of Central and Eastern Europe. From an economic point of view, the central question at this transition is whether the change in property...

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...