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Post-Socialist Culture and Entrepreneurship

2013; Wiley; Volume: 72; Issue: 3 Linguagem: Inglês

10.1111/ajes.12022

1536-7150

Petrik Runst,

Corporate Finance and Governance

The American Journal of Economics and SociologyVolume 72, Issue 3 p. 593-626 Original Article Post-Socialist Culture and Entrepreneurship† Petrik Runst, Petrik RunstSearch for more papers by this author Petrik Runst, Petrik RunstSearch for more papers by this author First published: 01 July 2013 https://doi.org/10.1111/ajes.12022Citations: 13 †Department of Economics, University of Wisconsin, Eau Claire, 105 Garfield Ave., Eau Claire, WI 54701, USA; tel: 715/8362236, [email protected]. ‡I am grateful for comments by Peter J. Boettke, Paul Lewis, John Nye, Virgil Storr, Richard E. Wagner, and the participants of the Graduate Student Paper Workshop at George Mason University. Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Abstract In this article it is argued that locus of control beliefs and preferences concerning state action negatively affect the formation of new firms in former socialist countries. For this purpose Kirzner's theory of costless entrepreneurship is reviewed and criticized. German reunification, in which the formerly socialist East Germany joined the Federal Republic of Germany, represents an intriguing natural experiment in which the formal institutional structure of one nation was almost fully transplanted into another. Traditional as well as psychological factors are examined. The results suggest that about one-third of the east-west gap in new self-employment can be explained by inert informal institutions. References Acemoglu, D., and S. Johnson. (2005). "Unbundling Institutions." Journal of Political Economy 114: 949– 995. Acs, Z., and P. Mueller. (2008). "Employment Effects of Business Dynamics: Mize, Gazelles and Elephants." Small Business Economics 30: 85– 100. Aidis, R., and S. Estrin. (2008). "Institutions and Entrepreneurship Development in Russia—A Comparative Perspective." Journal of Business Venturing 23(6): 656– 672. Akerlof, G., and R. Kranton. (2000). "Economics and Identity." 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