... failure or the lack of supporting institutions such as private property rights and stable rule of law within developing countries. Findings Using Baumol’s (1968) theory of entrepreneurship, the authors argue that the broader failure of microfinance is a case of poor institutional quality leading...

...Minh Tam Schlosky; Andrew Young Purpose A number of political economy concerns are associated with the provision of foreign aid to developing economies. These concerns suggest that foreign aid is likely to have harmful effects on a recipient’s institutional quality, and that attempts to give aid...

... to the shadow economy with less likelihood for detection [7] . Dr Travis Wiseman can be contacted at: travis.wiseman@msstate.edu © Emerald Group Publishing Limited 2015 Corruption Institutional quality Productive entrepreneurship Rent-seeking Shadow economy Unproductive entrepreneurship...