Industrial production in the United States declined by 47 percent between 1929 and 1933. This paper quantifies how the severity of the Great Depression within a location may affect contemporaneous entrepreneurship rates. On one hand, a more severe decline in productivity could have persistent...

This paper studies the role of arts entrepreneurship training among artists. First, we present results from a new hand-collected dataset on the incidence of arts entrepreneurship across leading colleges and conservatories. We find that such entrepreneurship training is exceedingly rare and...

In this paper, I review the concept of “institutional voids” that provides a way to understand the structure of emerging markets. These voids impede would-be buyers from getting together with would-be sellers, and hence compromise the functioning of markets. Entrepreneurs must respond to...