Purpose: This paper aims to highlight the possibility that the same cultural and/or institutional environment can differentially affect each of the two moments of entrepreneurship – opportunity identification and opportunity exploitation. It is possible that the cultural and institutional...

Since at least Max Weber, social scientists have looked closely at the nexus between markets and cities. Weber believed that cities and markets were inextricably linked. In his seminal work Economy & Society, for instance, Weber ([1921] 1978, p. 1213) describes the city as a market settlement....

The rival opinions expressed by Jeffrey Sachs in his book The End of Poverty and by William Easterly in The White Man's Burden epitomize the dichotomy in the economics literature regarding the role of foreign aid in eliminating extreme poverty. On the one hand, the majority of governments see...

In Trinidad and Tobago, the Chinese, Syrian-Lebanese and White ethnic groups have the highest levels of self-employment, while Indians have emerged as the new business class. However, relatively few black Trinidadians are self-employed. Using survey data, this study examines whether these...

Abstract: Ha-Joon Chang (2011), in his article ‘Institutions and Economic Development: Theory, Policy and History', argues that economists place too much faith in ‘liberalized' institutions. Institutions matter for growth, he contends, but not the way institutional economists think they do....