The paper presents a theoretical model with bureaucratic corruption where bribe income can leak out of an economy. In such an economy given its perception about the extent of leakage the government sets the price of public services required for entrepreneurship by maximizing the welfare of the...

The paper revisits the relationship been reform and corruption. We consider a scenario where less efficient domestic and more efficient foreign firms engaged in Cournot competition bribe the local authorities. The local firm pays for imposing a cost to the foreigners, the foreign firm pays so...

This paper studies the influence of entrepreneurial culture among social groups in an economy. The cultural factor determines their occupational preferences. We develop a model in which a concentration factor has been used as a measure of business culture determining the occupational choice...