The transitional economy refers to an economy going through the transition from a centrally-planned economy towards a market economy. The authors explore the relationship between the transitional economy and entrepreneurship. They argue that the rise of township and village enterprises (TVEs)...

According to the author, it is very important for a transitional economy to develop rules of the game that ensure fair competition. It is his thesis that enforcement of fair competition is a remedy to some market failures. After reviewing regulatory instruments that enforce fair competition in...