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Institutional change and economic development: concepts, theory and political economy

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  • DUTT, AMITAVA KRISHNA

Abstract

This article complements Ha-Joon Chang's critique, entitled ‘Institutions and Economic Development: Theory, Policy and History’, of the ‘dominant discourse’ on institutions and economic development which takes the view that getting the institutions right (by strengthening private property rights and market freedoms) is a prerequisite for development. It does so by commenting on the concepts of economic development and institutions, discussing the theory of how institutional change affects development, and examining the possibility and desirability of such institutional change as a prerequisite of development.

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  • Dutt, Amitava Krishna, 2011. "Institutional change and economic development: concepts, theory and political economy," Journal of Institutional Economics, Cambridge University Press, vol. 7(04), pages 529-534, December.
  • Handle: RePEc:cup:jinsec:v:7:y:2011:i:04:p:529-534_00
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