Abstract
This chapter is intended to provide background for more focused work on entrepreneurial finance in emerging economies analyzed in depth in other chapters. We do so by covering the critical topic of economic growth and development in the context of institutional development with emphasis on the prevalence of corruption that seems endemic in transition and emerging economies. The chapter contains numerous references to those topics in China and Russia, as well as from other countries like India and Brazil. We focus on the informal institution of corruption and contrast it with the formal institutions of a society, noting that corruption flourishes in the context of institutional voids which in turn result from weak legitimate formal institutions. An important aspect of this chapter is a major section devoted to the current situation reflecting on the seeming development of deglobalization and the roles being played by China and Russia in that fluid context.
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Puffer, S.M., McCarthy, D.J. (2020). Economic Growth, Institutions, and Corruption in Emerging Economies. In: Klonowski, D. (eds) Entrepreneurial Finance in Emerging Markets. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-46220-8_3
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DOI: https://doi.org/10.1007/978-3-030-46220-8_3
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