@TechReport{iza:izadps:dp6327,
            	author={Galor, Oded and Michalopoulos, Stelios},
            	title={Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits},
            	year={2012},
	month={Jan},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={6327},
            	url={https://www.iza.org/publications/dp6327},
	abstract={This research suggests that a Darwinian evolution of entrepreneurial spirit played a significant role in the process of economic development and the dynamics of inequality within and across societies. The study argues that entrepreneurial spirit evolved non-monotonically in the course of human history. In early stages of development, risk-tolerant, growth promoting traits generated an evolutionary advantage and their increased representation accelerated the pace of technological progress and the process of economic development. In mature stages of development, however, risk-averse traits gained an evolutionary advantage, diminishing the growth potential of advanced economies and contributing to convergence in economic growth across countries.},
	keywords={risk aversion;growth;technological progress;evolution;natural selection},
            }