Our article presents an index of institutional complementarity for 27 postcommunist economies, and evaluates a key claim of the Varieties of Capitalism paradigm. The empirical novelty of the index lies in its integration of informal institutions as well as its combination of macro-level and...

To unravel the roots of the relationship between the Individualism-Collectivism dimension of culture (IC) and market-supporting institutions, we develop a micro-founded model in which the two interact and coevolve. IC and institutions are related indirectly, via social organization: Individuals...

This paper aims to examine the influence of national institutions on start-up firms’ initial growth and internationalization. Focusing on two entrepreneurial start-ups in the ICT sector, this study highlights Japanese institutions in transition, and depicts the way in which rapidly growing...

Legal positions (such as rights, duties, liberties, powers, liabilities and immunities) are linked together by strong institutional complementarities differing from the usual institutional complementarities that have been recently considered by the Economic Literature. Legal positions do not...

Ludwig von Mises seems to be something of an outlier within the Austrian school when it comes to capital – though his position is clearly foreshadowed in a neglected article by Carl Menger (1888). In this paper we examine Mises's view on capital and suggest that it constitutes a bridge between...

Financialization describes the turn to speculative asset trading that has become increasingly central to economic life in recent decades. Critics argue this has occurred at the expense of the “real economy,” referring to production and trade. Critics further argue that finance’s normal...

Tolerance has the potential to affect both economic growth and wellbeing. It is therefore important to discern its determinants. We add to the literature by investigating whether the degree to which economic institutions and policies are market-oriented is related to different measures of...

Tolerance has the potential to affect both economic growth and wellbeing. It is therefore important to discern its determinants. We add to the literature by investigating whether the degree to which economic institutions and policies are market-oriented is related to different measures of...

We explain economic growth by both politics, i.e. government activity including spending as well as regulation, and institutional quality and its interaction with politics. This extends previous work on institution building in transition by looking at its impact and, at the same time,...

This paper aims to relate the issue of the Motherhood Wage Penalty to the institutional framework "Varieties of Capitalism." Using data from the Luxembourg Income Study, we perform cross-national analyses on the discrepancy in wages between mothers with young children and females without...