Determinants of catching up or falling behind: interaction of formal and informal institutions
The article looks from an institutional perspective at the process of catching up by poorer countries with the level of development already achieved by the richer ones. The author stresses that resources are of secondary importance, relative to the institutional framework conducive to or discouraging economic development. It is from such a perspective that the present writer approaches post-communist transition, noting the existence of leaders and laggards in the process. Differences in outcomes are ascribed, unsurprisingly, to differences in institution-building (both general and specific rules) and, even more importantly, to differences in what the author calls “civilisational fundamentals” of liberty, law and order, and trust. The main thesis is that the fundamentals in question are the heritage of pre-communist past. Therefore, it is the pre-communist heritage, the presence or absence of the fundamentals in question, which largely determine the transition's success or failure.
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Volume (Year): 16 (2004)
Issue (Month): 2 ()
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- Djankov, Simeon & La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei, 2001.
"The Regulation of Entry,"
Working Paper Series
rwp01-015, Harvard University, John F. Kennedy School of Government.
- Simeon Djankov & Rafael La Porta & Florencio Lopez-de-Silanes & Andre Shleifer, 2000. "The Regulation of Entry," Harvard Institute of Economic Research Working Papers 1904, Harvard - Institute of Economic Research.
- Simeon Djankov & Rafael LaPorta & Florencio Lopez-de-Silanes & Andrei Shleifer, "undated". "The Regulation of Entry," Working Paper 19462, Harvard University OpenScholar.
- Simeon Djankov & Rafael La Porta & Florencio LopezdeSilanes & Andrei Shleifer, 2000. "The Regulation of Entry," NBER Working Papers 7892, National Bureau of Economic Research, Inc.
- Djankov, Simeon & La Porta, Rafael & Shleifer, Andrei & Lopez de Silanes, Florencio, 2001. "The regulation of entry," Policy Research Working Paper Series 2661, The World Bank.
- Djankov, Simeon & La Porta, Rafael & López-de-Silanes, Florencio & Shleifer, Andrei, 2001. "The Regulation of Entry," CEPR Discussion Papers 2953, C.E.P.R. Discussion Papers.
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