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This concluding chapter examines the footprint of coopetition within the tourism domain, drawing upon existing literature to present a comprehensive overview of its evolution to date. To achieve this, the authors conducted a literature review of 94 articles published on coopetition in tourism and hospitality, sourced from esteemed databases such as Scopus and Web of Science. Each article was meticulously categorised based on its thematic focus, geographical scope and the sample of respondents employed to elucidate the dynamics of coopetition. The findings underscore the concerted efforts of researchers to delineate the contours of coopetition within the tourism and hospitality sectors. Through diverse lenses and methodologies, these studies collectively contribute to the burgeoning discourse surrounding coopetition, illuminating its multifaceted implications and applications in different contexts. This chapter presents a systematic analysis that serves as a testament to the growing momentum behind the coopetition paradigm in tourism. It shows how researchers on coopetition are paving the road towards the coopetition paradigm in tourism and hospitality.

How do informal lending institutions affect entrepreneurship? This paper aims to investigates the role of formal and informal credit market institutions in the decision to become an entrepreneur over the life cycle.

The author developed a dynamic Roy model in which a decision to become an entrepreneur depends on the access to formal and informal credit markets, nonpecuniary benefits of entrepreneurship, career-specific entry costs, prior work experience, education, unobserved abilities and other labor market opportunities (salaried employment and nonemployment). Using detailed Russian panel microdata (the Russia longitudinal monitoring survey) and estimating a structural model of labor market decisions and borrowing options, the author assesses the impact of the development of informal and formal credit institutions.

The expansion of traditional (formal) credit market institutions positively impacts all workers’ categories, reduces the share of entrepreneurs who borrow from informal sources and incentivizes low-type entrepreneurs to switch to salaried employment. The development of the informal credit market reduces the percentage of high-type entrepreneurs who borrow from formal sources. In the case of default, a higher value of the social network or higher costs of losing social ties demotivate low-type entrepreneurs to borrow from informal sources. The author highlights the practical implications of estimates by evaluating policies designed to promote entrepreneurship, such as subsidies and accessibility regulations in credit market institutions.

This study contributes to the literature in several ways. Unlike other studies that focus on individual characteristics in the selection for self-employment [Humphries (2017), Hincapíe (2020), Gendron-Carrier (2021), Dillon and Stanton (2017)], the paper models labor and borrowing decisions jointly. Previous studies discuss transitions between salaried employment and self-employment, taking into account entrepreneurial earnings, wealth, education and age, but do not consider the availability of financial institutions as a driving factor for the selection into self-employment. To the best of the author’s knowledge, this paper shows for the first time that the transition from salaried employment to self-employment is standard and consistent with changes in access to financial institutions. Another feature of this study is incorporating both types of credit markets – formal and informal. The survey by the European Central Bank on the Access to Finance of Enterprises (2018) shows 18% of small and medium enterprise in EU pointed funds from family or friends. Therefore, the exclusion from consideration of informal credit markets may distort the understanding of the role of the accessibility of credit markets.