Journal articleIFPRI3; ISI; PSSP; CRP2; C Improving markets and tradeDSGD; MTID; PIMPRCGIAR Research Program on Policies, Institutions, and Markets (PIM

`A hopeful but nonetheless hard-hitting analysis of alternative economic spaces proliferating in the belly of the capitalist beast. In this book Leyshon, Lee

To advance understanding of the entrepreneurship process in developing economies, this article evaluates whether registered enterprises that initially avoid the cost of registration, and focus their resources on overcoming other liabilities of newness, lay a stronger foundation for subsequent growth. Analyzing World Bank Enterprise Survey data across 127 countries, and controlling for other firm performance determinants, registered enterprises that started up unregistered and spent longer operating unregistered are revealed to have significantly higher subsequent annual sales, employment, and productivity growth rates compared with those that registered from the outset. The theoretical and policy implications are then discussed.

To evaluate critically the conventional view that entrepreneurs are either necessity-driven or opportunity-driven, empirical data are reported from England, Ukraine and Russia on the motives of a specific group of entrepreneurs – those operating wholly or partially in the informal economy. The paper finds that, for the vast majority, both necessity and opportunity drivers are involved in their decision to start up enterprises, along with a clear shift from necessity-oriented to opportunity-oriented motivations as their ventures become more established. The paper concludes with a discussion of the public policy implications of these findings.