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Although previous research has examined the role of franchising for the economic development of countries, no empirical study to date has investigated the importance of franchising for social, infrastructural, and institutional development. The authors address this research gap by applying research results from the field of sustainable entrepreneurship and highlight that franchising has a positive impact on economic, social, institutional and infrastructural development.

This study uses a fixed-effects model on a panel dataset for 2006–2015 from 49 countries to test the hypothesis that franchising positively influences various dimensions of country development such as economic social institutional and infrastructural development.

The findings highlight that franchising has a positive impact on the economic, social, infrastructural, and institutional development of a country. Specifically, the results show that the earlier and the more franchising systems enter a country, the stronger the positive impact of franchising on the country's economic, social, institutional, and infrastructural development.

This study has several limitations that provide directions for further research. First, the empirical investigation is limited by the characteristics of the data, which are composed of information from 49 countries (covering a period of 10 years). Because franchising is not recognized as a form of entrepreneurial governance in many emerging and developing countries, the available information is mainly provided by the franchise associations in the various countries. Hence, there is a need to collect additional data in each country and to include additional countries. Second, although the authors included developed and developing countries in the analysis, the authors could not differentiate between developed and developing countries when testing the hypotheses, because the database was not sufficiently complete. Third, future studies should analyze the causality issue between franchising and development more closely. The role of franchising in development may be changing depending on different unobserved country factors, economic sector characteristics, or development stages.

What are the practical implications of this study for the role of franchising in the development of emerging and developing economies? Because public policy in emerging and developing countries suffers from a lack of financial resources to improve the social, infrastructural and institutional environment, entrepreneurs, such as franchisors who expand into these countries, play an important role for these countries' development. In addition to their entrepreneurial role of exploring and exploiting profit opportunities, they are social, institutional, and political entrepreneurs who may positively influence country development (Schaltegger and Wagner, 2011; Shepard and Patzelt, 2011). Specifically, the findings highlight that countries with an older franchise sector (more years of franchise experience) may realize first-mover advantages and hence larger positive spillover effects on their economic, social, institutional and infrastructural development than countries with a younger franchise sector. Hence, governments of emerging and developing countries have the opportunity and responsibility to reduce potential market entry barriers and provide additional incentives for franchise systems in order to trigger these positive spillover effects. The authors expect that the spillover effects from the franchise sector on the economic, institutional, social and infrastructural development of a country are stronger in emerging and developing countries than in developed countries.

Previous research has focused on the impact of franchising on the economic development of a country, such as its growth of gross domestic product (GDP), employment, business skills, innovation and technology transfer. This study extends the existing literature by going beyond the impact of franchising on economic development: the results show that franchising as an entrepreneurial activity offers opportunities for economic, social, institutional, and infrastructural development, all of which are particularly important for emerging and developing economies. The findings of this study contribute to the international franchise and development economics literature by offering a better understanding of the impact of franchising on country development.

Economists have recently emphasized the role which institutional change plays in the process of economic growth and development. Focusing on the behavior of the state, effective constraints on the ruling elite are seen as a necessary precursor to successful economic growth. However, it is argued in this paper that causality runs the other way. Rapid growth (even with dictatorial regimes) leads to political development and institutional structures which provide a foundation for successful long‐term growth. It will be further argued that the greatest potential for stimulating political development comes as the result of rapid agricultural growth. The institutional constraints arising out of political development create an environment within which the ruling elite become developmental rather than predatory. The cases of English and Japanese industrialization will be used to illustrate these ideas. The relevance of the analyses for today's developing countries is discussed and illustrated with reference to the African experience.

The purpose of this paper is to integrate two main strands of the aid-development nexus in assessing whether institutional thresholds matter in the effectiveness of foreign-aid on institutional development in 53 African countries over the period 1996-2010.

The panel quantile regression technique enables us to investigate if the relationship between institutional dynamics and development assistance differs throughout the distributions of institutional dynamics. Eight government quality indicators are employed: rule of law, regulation quality, government effectiveness, corruption, voice and accountability, control of corruption, political stability and democracy.

Three hypotheses are tested and the following findings are established: first, institutional benefits of foreign-aid are contingent on existing institutional levels in Africa; second, but for a thin exception (democracy), foreign-aid is more negatively correlated with countries of higher institutional quality than with those of lower quality; third, the institutional benefits of foreign-aid are not questionable until greater domestic institutional development has taken place. The reverse is true instead. government quality benefits of development assistance are questionable in African countries irrespective of prevailing institutional quality levels.

This paper contributes to existing literature on the effectiveness of foreign-aid by focussing on the distribution of the dependent variables (institutional dynamics). It is likely that best and worst countries in terms of institutions respond differently to development assistance.

The purpose of the study is to investigate the international opportunity development process of born global firms embedded in two different institutional contexts: China, an emerging economy and Italy, a developed country. Drawing on the entrepreneurial opportunity literature and institutional theory, this study explores and draws insights into how home country institutions of born globals can influence the international opportunity development process of the firms.

This paper adopts a qualitative case study approach with in-depth, semi-structured interviews of six born global companies from China and Italy. In doing so, this study uses a flexible pattern matching design, which is consistent with the qualitative research design of the paper.

The findings of the study indicate that home institutions play an influential, yet differential role in the international opportunity development processes of Chinese and Italian born global firms. While the Italian firms shape their opportunities mainly through product innovation, their Chinese counterparts develop opportunities primarily through networks embedded in their home institutional context.

The key contributions of the paper relate to an integrated analysis of the international opportunity development process of born globals in China and Italy based on institutional theory, which has received limited attention in the international entrepreneurship literature. In addition, the study advances the similarities and differences in the international opportunity development process in two different countries, thus providing valuable insights for policymakers and practitioners to enter international markets successfully.

This study examines how institutional quality influences variability in financial development among economies in Sub-Saharan Africa (SSA).

Empirical estimations verifying various relationships are performed using the limited information maximum likelihood (LIML) estimation technique.

The results suggest that institutional quality enhances the pace of financial development among economies in the sub-region all things being equal. In a further micro-level analysis where components of institutional quality index are examined separately, the study’s results suggest that effective governance, regulatory quality, rule of law and accountability tend to have a significant positive impact on financial sector development.

Findings of the study suggest that policies geared towards improving governance and regulatory institutions can augment development of the financial sector among economies in SSA; governments and policymakers are therefore encouraged to resource noted institutions to play effective roles for the development of the financial sector.

Compared to related studies, this study reorients existing paradigm, which emphasizes the role of governance and institutional variables in the economic growth discourse. The authors’ empirical inquiry rather focuses on how governance and institutional structures influence regional financial development dynamics. Specifically, this study differs from most macro-level studies found in literature because it examines the impact of hitherto unexamined governance and institutional variables on financial development among economies in SSA.

Agency involves dynamic socio-cultural processes that facilitate development. This paper is written in three parts. In Part 1, there are two purposes, the first purpose is to intimately connect agency and institutional theory, and the second purpose is to explore the relationship between agency development and growth and globalisation. In Part 2, the purpose will be to explore development with respect to the political context by explaining in terms of culture under what conditions political groups may come to power. Using political frames intended to define their nature and realities, political groups seek to attract agents in their political sphere to gain administrative power. In Part 3, the purpose will be to model, using cybernetic agency theory, the nature of development and its reduction to instrumentality.

In this part of the three-part paper, development theory is explained as a multidisciplinary field in which research and theories are clustered together and set within an adaptive institutional activity system framework. An adaptive activity system has a plural membership of agents represented by agency. Agency represents an activity system that will be argued to operate through its institutional metasystem. This enables activity system development to be explained as a process of institutional evolution. In Part 1, the problem will be addressed of how the relationship between agency and institution enables institutional change. To resolve this agency will be shown to be institutional in nature, and agency development as a process of institutional evolution. To distinguish between development and growth/globalisation, agency will be taken to have an internal and external context. Distinction will then be made between development as an internal attribute of agency and its consequences, which may include the external attributes of growth/globalisation. It will also be explained that development may have a less desirable condition when it becomes liquid.

The three-part paper develops a political development theory that identifies the conditions under which formal political groups are able to promote frames of policy to attract support from autonomous agents that constitute the membership of the activity system, and hence gain agency status. Furthermore, Bauman’s theory of liquid modernity is connected to Sorokin’s theory of socio-cultural dynamics and cultural stability. One result is the notion of liquid development, an unstable condition of development in adaptive activity systems.

The implication of this research is that, given additional appropriate measurement criteria, it will allow conceptual and empirical methods to be used that will potentially enable political outcomes in complex socio-political environments to be anticipated.

The implication of this research is that it will allow empirical methods to be used that potentially enables political outcomes in complex socio-political environments to be anticipated, given additional appropriate measurement criteria.

The synergy of agency and institutional theories to explain the process of development is new, as well as its application to the political development process in a political landscape. As part of this synergistic process, Bauman’s concept of liquidity is shown to relate to Sorokin’s ideas of socio-cultural change.

This study aims to provide empirical evidence of the pass-through effect of monetary policy on bank lending rates vis-à-vis the potential moderating effects of financial sector development and institutional quality in Africa.

The study uses robust fixed effects panel data estimation techniques and data from 1990 to 2017 across 37 countries in Africa.

The results show that financial development aids in the effectiveness of monetary policy transmission. A decomposition of financial development into financial institution development and financial market development shows that financial institutional development is more influential with regard to effectiveness of the interest rate pass-through compared to financial market development. This study again shows that improvements in the quality of institutions reduced lending rates in African economies.

The findings present relevant policy implications regarding effective transmission of monetary policy, by linking the pursuit of institutional quality, characterized by the control of corruption, political stability, regulatory quality, rule of law and the voice of accountability and development of financial institutions with lending rates and ultimately the demand for growth capital.

This study contributes to the literature on the factors influencing the effectiveness of monetary policy. This study considers financial sector development and institutional quality as conduits to monetary policy effectiveness in developing African countries.

Agency is inherently an institution and involves dynamic socio-cultural processes that facilitate development. This paper is written in three parts. The purpose in Part 1 was to represent agency theory as an institutional theory, and consideration was made of the relationship between development, growth and globalisation. In Part 2, the purpose was to explore development with respect to the political context, explaining in terms of culture under what conditions political groups may come to power. Using political frames intended to define their nature and realities, they seek to attract agents in their political sphere to gain administrative power. In this Part 3, the purpose of this paper is to model, using cybernetic agency theory, the nature of development and reduction to instrumentality.

Development theory is a multidisciplinary field in which research and theories are clustered together and set within an adaptive institutional activity system framework. An adaptive activity system has a plural membership of agents represented by agency. In Parts 1 and 2 of this paper, agency was shown to have an institutional basis. Activity system development was also explained as a process of institutional evolution, and its potential was shown to provide power acquisition in a political landscape by competitive political frames which vie for support in a place of potentially susceptible agents. Here in Part 3, agency theory will be used to model the dynamic relationships between political frames and the agents that they wish to attract by projecting both cognitive and emotional structures, this enabling the anticipation of behaviour.

These relate to the three parts of the paper taken together. Agency is an evolutionary institutional system that can represent socio-political development. A model for political development has been created that identifies the conditions under which formal political groups are able to promote frames of policy to attract support from autonomous agents that constitute the membership of the activity system, and hence gain agency status. On the way to this, it connects Bauman’s theory of liquid modernity to Sorokin’s theory of socio-cultural dynamics and cultural stability. One result is the notion of liquid development, an unstable condition of development in adaptive activity systems. Agency theory can usefully explain detailed changes in agency, the relationships between agency agents, and interactions between agencies, this embracing institutional processes.

The implication of this research is that it will allow empirical methods to be used that potentially enables political outcomes in complex socio-political environments to be anticipated, given additional appropriate measurement criteria.

The synergy of agency and institutional theories to explain the process of development is new, as is its application to the political development process in a political landscape. As part of this synergistic process, it has been shown how Bauman’s concept of liquidity relates to Sorokin’s ideas of socio-cultural change.

This study examines the moderating effect of institutional quality on the finance-growth nexus in South Africa from 1986 to 2015.

This study adopts unit root tests, cointegration test and autoregressive distributed lag (ARDL) model.

The findings reveal that institutional quality constitutes a drain to the growth benefits of financial development (FD) in South Africa in the short-run while FD and institutional quality converge to enhance growth process of the country in the long-run. Also, the threshold of institutional quality beyond which institution stimulates strong positive impact of finance on growth is estimated to be 6.42 on a 10-point scale.

This study, therefore, suggests that institutional quality matters in the way FD influences economic growth in South Africa. Hence, stakeholders are encouraged to trace and block lapses and loopholes in the institutional framework guiding financial system in South Africa so as to maximize growth benefits of FD.

This study contributes to the extant studies by introducing a country-specific analysis into the empirical examination of how institutional quality influences the impact of FD on economic growth. Also, this study deviates from other studies by determining the threshold of institutional quality beyond which FD stimulates strong positive effect on economic growth in South Africa

While digital labour platforms are being increasingly studied across the Global South, the existing literature does not conceptualise the theoretical link between such platforms and socio-economic development. This paper theorises such a link drawing on the notion of institutional voids defined, as in Khanna and Palepu (2010), as “the absence of intermediaries to efficiently connect buyers and sellers” in an economy. We frame digital labour platforms as means to fill institutional voids, seeking to create “development” in the form of earning opportunities in contexts of deprivation.

We draw on an interpretive case study of an online work training project in a deprived region of Pakistan, where members of marginalised communities were trained to become freelancers for global digital labour platforms. We use the notion of market-enabling institutions aimed at filling institutional voids as a lens to study the project's declared goals, examining the extent to which these were met in practice for the workers who participated in the training.

Our analysis reveals three types of market-enabling institutions–credibility enhancers, aggregators and distributors, and transaction facilitators–through which digital labour platforms seek to fill institutional voids. However, workers' narratives reveal that institutional voids are only partially filled by these platforms, and their perpetuation results in diverse forms of power asymmetries leveraged by clients and owners of the platforms. We also observe the formation of solidarity networks among workers, networks that are intra-familial and societal rather than characterised by formal unionisation.

The paper offers a novel perspective to theorise the link between digital labour and socio-economic development. Applying such a perspective in a Global South context, it also finds the limits of the digital platforms' institutional void-filling potential, highlighting the emergence of power asymmetries and the emerging formation of worker solidarity networks.