A country-level institutional perspective on entrepreneurship productivity: The effects of informal economy and regulation
利用60国面板数据，研究非正规经济规模和监管制度对创业生产率的影响，发现非正规经济规模与创业生产率负相关，且在非正规经济较大时，改善治理可能适得其反。
Developing the concept of institutional incongruence and employing panel data from 60 countries, we outline an alternative view of the informal economy and the effects of regulative institutions on entrepreneurship productivity. We find evidence that the informal economy's size is, largely, negatively associated with entrepreneurship productivity, and that in the presence of a large informal economy, governmental efforts to improve governance quality can be counterproductive. Our results suggest policy interventions aimed at changing institutions to practice formal entrepreneurship should be implemented cautiously to avoid inducing institutional incongruence.