Societies in Western civilisation enforce their rules through formal institutions such as secularism (SES), whereas in less developed civilisations often rely on informal institutions such as religion (RES). The present paper attempts to explain the determinants of societies’ choice between...

The paper reviews the current discussion on institutional change and institutional entrepreneurship. Specifically, it focuses on institutional change agents, by which we mean individuals whose actions can be shown to have contributed to formal or informal institutional change, to the benefit of...

A stock exchange and the presence of functioning equity markets are part and parcel of an advanced market-based financial system. Previous research has also established that equity markets function more efficiently in the presence of supporting institutions such as property rights and rule of...

There is a shortage of evidences and literatures regarding institutional environment differences across the states of India. Therefore, the paper attempts to provide some important sub-national environment differences across the Indian states in the context of entrepreneurship. It focuses on the...

This paper uses the 19th century concern with “the social question” as a vehicle to explore how the theories we use can shape, for better or for worse, our insights into our subjects of interest. Contemporary thinking mostly channels the social question into a focus on inequality in the...

A country's political and economic institutions are critical for economic prosperity. The literature abounds with institutional measures, precisely because institutions are not one dimensional. We use panel-unit-root and cointegration tests to examine the time-series properties of several...

How can a government help secure low-cost equity financing? This study offers an answer that a government can secure sustainable economic progress when policies of economic freedom are well institutionalized in a way that results in low equity volatility, thus low-cost equity financing. This...

In the modern conditions of the post-COVID world, the transformation of the world economy in the framework of the transition to the post-industrial paradigm, and the economy of "knowledge", the national innovation system (NIS) plays a leading role in the formation of competitive sectors of any...

Economists have recognized that ldquo;institutions matterrdquo; and the renewal of Institutional Economics has gained a large scientific authority, but institutions, as unit of analysis, stay a concept not understood on all its dimensions. Recently, a new concept appeared in the economic...

This study presents the insightful and comprehensive empirical evidence on the impact of income and institutional governance on climate change based on panel data of 203 countries for time series of 1996 to 2017. We have divided the countries into sub-samples of 34 low-income, 101 middle-income...