are controlled for, conventional measures of geography have at best weak direct effects on incomes, although they have a strong indirect effect by influencing the quality of institutions. Similarly, once institutions are controlled for, trade is almost always insignificant, and often enters the income equation

Human institutions—ways of organizing activities—affect the resilience of the environ-ment. Locally evolved institutional arrangements governed by stable communities and buffered from outside forces have sustained resources successfully for centuries, al-though they often fail when rapid change

Abstract. Characteristics of national cultures have frequently been claimed to influence the selection of entry modes. This article investigates this claim by developing a theoretical argument for why culture should influence the choice of entry. Two hypotheses are derived which relate culture

on the behavior and performance of the variety of private and public institutions that arise in systems markets to influence expectations, facilitate coordination, and achieve compatibility. In many cases, the components purchased for a single system are spread over time, which means that rational buyers must

revealed varied approaches to decision making and complex interactions among institutions and prospective students. As we searched the literature for accounts of the college-choice process, we grew increasingly curious about continuity and change in that process: How had the expansion of access to higher

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This paper investigates the impact of implicit institutions on the decision to become an entrepreneur. Implicit institutions are here defined as mindsets that have developed as the result of norms and traditions and we expect they will have an influence on risk attitudes and opportunity recognition

through institutions or policies? We test the endowment, institution, and policy views against each other using cross country evidence. We find evidence that tropics, germs, and crops affect development through institutions. We find no evidence that endowments affect country incomes directly other than

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financial integration more generally. I then turn to the related literature on economic development, which over the past decade has shifted its emphasis from technology and capital accumulation per se to the underlying institutional factors that affect investment. I present evidence that such factors also