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Evaluating Recipes for Development Success

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  • Avinash Dixit

Abstract

This article offers a provocative critique of the ability of research on the impact of institutions on growth to offer immediate and practical recommendations for reforming and redesigning institutions in developing countries and transition economies. The literature traces the sources of growth to unalterable historical and geographic features. It contains equally plausible recommendations for opposite courses of action. It is sometimes driven by fads or recommends imitation of the latest success story. Some recommendations are too vague or too general to constitute practical advice. The article suggests a Bayesian diagnostic procedure to identify the causes of economic failure in an individual country as a first step toward remedying the failure. Copyright The Author 2007. Published by Oxford University Press on behalf of the International Bank for Reconstruction and Development / the world bank . All rights reserved. For permissions, please e-mail: journals.permissions@oxfordjournals.org, Oxford University Press.

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Bibliographic Info

Article provided by World Bank Group in its journal The World Bank Research Observer.

Volume (Year): 22 (2007)
Issue (Month): 2 (June)
Pages: 131-157

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Handle: RePEc:oup:wbrobs:v:22:y:2007:i:2:p:131-157

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References

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Citations

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Cited by:
  1. World Bank, 2010. "Bhutan Investment Climate Assessment Report : Vitalizing the Private Sector, Creating Jobs, Volume 2," World Bank Other Operational Studies 12872, The World Bank.
  2. World Bank, 2010. "Bhutan Investment Climate Assessment Report : Vitalizing the Private Sector, Creating Jobs, Volume 1. Summary Report," World Bank Other Operational Studies 12871, The World Bank.
  3. Abbott, Philip & Andersen, Thomas Barnebeck & Tarp, Finn, 2010. "IMF and economic reform in developing countries," The Quarterly Review of Economics and Finance, Elsevier, vol. 50(1), pages 17-26, February.
  4. William Easterly, 2008. "Can the West Save Africa?," NBER Working Papers 14363, National Bureau of Economic Research, Inc.
  5. World Bank, 2012. "Liberia : Inclusive Growth Diagnostics," World Bank Other Operational Studies 12609, The World Bank.
  6. Klump, R. & Prüfer, P., 2006. "Prioritizing Policies for Pro-Poor Growth: Applying Bayesian Model Averaging to Vietnam," Discussion Paper 2006-117, Tilburg University, Center for Economic Research.

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