This paper discusses the difficulties associated with measuring entrepreneurship in developing countries. Three important dichotomies in the research on entrepreneurship are discussed: formal-informal, legal-illegal, and necessity-opportunity. Several common measures of entrepreneurship are...

A stylized fact of economic development is the structural transformation of countries from traditional, mainly agricultural societies to modern economies dominated by manufacturing and services. In this paper we provide an endogenous growth model to illuminate the role of entrepreneurial...

In this paper, we formalize the view that economic development requires high rates of productive entrepreneurship, and this requires an efficient matching between entrepreneurial talent and production technologies. We first explore the role of financial development in promoting such efficient...

In this paper, I discuss the reasons for Costa Rica's economic performance over the last quarter of a century. Three complementary sets of policies (investments in human capital, careful stabilization, and an intelligent and aggressive integration into the world economy) explain the successful...

Oman and Bahrain are Middle Eastern success stories. There are some key similarities. Both have followed pragmatic development strategies built on a stable foundation of strengthened governance structures and enhanced economic liberalization. These improvements occurred in somewhat different...

The paper provides an evaluation of the development of the South African economy since the end of apartheid in 1994. Taking the 1993 situation as the point of departure, it gives an account of the path leading to the formulation of the major policy documents, and examines to what extent their...

The notion that good corporate governance means maximizing shareholder value derives from the neoclassical theory of the market economy. I explain why this perspective is highly problematic for understanding the operation and performance of the business corporation and hence the institutions...

This paper sets out to explain the factors behind Ireland's exceptional period of economic growth from the early 1990s to the mid 2000s. It suggests that an unbending commitment to economic openness and an on-going effort to establish quality domestic institutions were the main drivers of the...

The concepts vulnerability, resilience and community are widely used and abused in the literature on natural hazards and disaster risk reduction. This paper seeks to bring greater rigour in their use. In particular, vulnerability must be understood as a set of socioeconomic conditions that are...