like France and Japan. Why? This paper explores a model in which heterogeneous entrepreneurs, broadly interpreted, exert …

entrepreneurs facing uninsurable idiosyncratic risks. Under greater wealth concentration, households in the lower end of the wealth … heterogeneous risk averse entrepreneurs competing to catch up with firms. This model is unique in that both household wealth …

We posit that entrepreneurs who engage in strategic activities will have high growth aspirations. Our proposed … actual entrepreneurs …

. According to the Schumpeter banks should stimulate innovations implemented by entrepreneurs in the economy. Unfortunately the … Schumpeter credit contributes to the development, because development results from the activities of entrepreneurs. Other types …