It is not a surprise that informal investment is a widespread phenomenon in the developed countries with long experience in market economy practices. But what about is informal investment in countries that started economic transition just a decade ago? Present study investigates the influential...

This study explores individual and country-level environmental drivers of informal quot;seedquot; investment. We examine four types of informal investors based on business ownership experience (or no such experience) and close family relationship with investee (or no such relationship):...