The Plight of Underdeveloped Countries

Posted: 12 Dec 2005

See all articles by Christopher J. Coyne

Christopher J. Coyne

George Mason University - Department of Economics

Peter T. Leeson

George Mason University - Department of Economics; George Mason University - Mercatus Center

Abstract

Institutionally dependent payoffs determine the direction of entrepreneurial alertness and efforts. In order to understand the plight of developing countries, it is critical to understand that it is not a lack of entrepreneurship that is the problem, but rather the institutional context directing entrepreneurial activities toward perverse ends. Specifically, some institutional regimes channel entrepreneurial activity into economically destructive avenues, while other frameworks direct this activity in a way that creates wealth.

Suggested Citation

Coyne, Christopher J. and Leeson, Peter T., The Plight of Underdeveloped Countries. Cato Journal, Forthcoming, Available at SSRN: https://ssrn.com/abstract=869123

Christopher J. Coyne (Contact Author)

George Mason University - Department of Economics ( email )

4400 University Drive
Fairfax, VA 22030
United States

HOME PAGE: http://www.ccoyne.com/

Peter T. Leeson

George Mason University - Department of Economics ( email )

4400 University Drive
Fairfax, VA 22030
United States

HOME PAGE: http://www.peterleeson.com

George Mason University - Mercatus Center ( email )

3434 Washington Blvd., 4th Floor
Arlington, VA 22201
United States

HOME PAGE: http://ppe.mercatus.org/scholars/peter-leeson

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