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Collective Values, Behavioural Norms and Rules Building Institutions for Economic Growth and Poverty Reduction

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  • Ke-young Chu
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    Abstract

    Economic growth and poverty reduction require for a country to establish efficient rules for economic and political transactions. Poor countries suffer from inadequate, inefficient transaction rules. Formal rules (e.g.,laws,policies) must be nested in hospitable behavioural norms and values. Cultural collectivism in many of these countries and consequent group-oriented values, factionalism, and discretionary rule implementation have adverse implications for their efforts to establish well-defined property rights and other rules. Overtime, these countries must establish rules for government-enforced, widespread impersonal transactions. [DiscussionPaperNo.2001/98]

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    Paper provided by eSocialSciences in its series Working Papers with number id:3018.

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    Date of creation: Oct 2010
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    Handle: RePEc:ess:wpaper:id:3018

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    Keywords: growth; poverty; rules; institutions; humanbehaviour;

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    1. Shirley, Mary M., 2000. "A Not-So-Dismal Science: A Broader View of Economies and Societies. Edited by Mancur Olson and Satu K hk nen. Oxford: Oxford University Press, 2000. Pp. vii, 274. $65.00, cloth; $19.95, paper," The Journal of Economic History, Cambridge University Press, Cambridge University Press, vol. 60(03), pages 915-917, September.
    2. Brunetti, Aymo & Kisunko, Gregory & Weder, Beatrice, 1998. "Credibility of Rules and Economic Growth: Evidence from a Worldwide Survey of the Private Sector," World Bank Economic Review, World Bank Group, World Bank Group, vol. 12(3), pages 353-84, September.
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    6. Romp, Graham, 1997. "Game Theory: Introduction and Applications," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780198775027, October.
    7. Rafael La Porta & Florencio Lopez-de-Silanes & Cristian Pop-Eleches & Andrei Shleifer, 2002. "The Guarantees of Freedom," Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research 1943, Harvard - Institute of Economic Research.
    8. Kandori, Michihiro, 1992. "Social Norms and Community Enforcement," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 59(1), pages 63-80, January.
    9. Olson, Mancur & Kahkohnen, Satu (ed.), 2000. "A Not-so-dismal Science: A Broader View of Economies and Societies," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780198294900, October.
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