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The Role of Institutions in Economic Development

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Author Info
Douglas North (Washington University)

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Abstract

This paper provides the text of the Gunnar Myrdal Lecture presented at the U.N. Palais des Nations in 2003. The lecture suggests that the gaps in income per capita between richer and poorer countries largely reflect the quality of their institutions. Institutions, by reducing uncertainty, are the key to facilitating cooperation which allows the realization of the gains from trade and exchange and the advantages of increasing specialization. It is argued that there is no single strategy for institutional design that will fit all countries.

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File URL: http://www.unece.org/oes/disc_papers/ECE_DP_2003-2.pdf
File Format: application/pdf
File Function: First version, 2003
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Publisher Info
Paper provided by UNECE in its series ECE Discussion Papers Series with number 2003_2.

Download reference. The following formats are available: HTML, plain text, BibTeX, RIS (EndNote), ReDIF
Length: 11 pages
Date of creation: Oct 2003
Date of revision:
Publication status: Published in UNECE Discussion Paper Series, No. 2003_2
Handle: RePEc:ece:dispap:2003_2

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Postal: Palais des Nations, CH - 1211 Geneva 10
Phone: +4122 917 44 44
Fax: +4122 917 05 05
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Web page: http://www.unece.org/
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Related research
Keywords: Myrdal institutions comparative economic performance

Find related papers by JEL classification:
B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional
A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary
H10 - Public Economics - - Structure and Scope of Government - - - General
N10 - Economic History - - Macroeconomics and Monetary Economics; Growth and Fluctuations - - - General, International, or Comparative
P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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This page was last updated on 2008-9-21.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.