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Social Organizations, Risk-sharing Institutions, and Economic Development

In: Institutions and Comparative Economic Development

Author

Listed:
  • Avner Greif

    (Stanford University)

  • Murat Iyigun

    (University of Colorado)

  • Diego Sasson

    (Goldman Sachs)

Abstract

Economic, legal, and political institutions are important determinants of economic development (see, for example, North 1990). Economic institutions govern interactions among economic agents, legal institutions govern contractual relations and the private use of force, and political institutions govern the political decision-making process. Economic and political developments thus require institutions that support impersonal exchange and align the incentives of political decision-makers and the public.1

Suggested Citation

  • Avner Greif & Murat Iyigun & Diego Sasson, 2012. "Social Organizations, Risk-sharing Institutions, and Economic Development," International Economic Association Series, in: Masahiko Aoki & Timur Kuran & Gérard Roland (ed.), Institutions and Comparative Economic Development, chapter 2, pages 48-63, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-137-03401-4_3
    DOI: 10.1057/9781137034014_3
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    Citations

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    Cited by:

    1. Iyigun, Murat, 2012. "Are We There Yet? Time for Checks and Balances on New Institutionalism," IZA Discussion Papers 6934, Institute of Labor Economics (IZA).
    2. Klaus Desmet & Avner Greif & Stephen L. Parente, 2020. "Spatial competition, innovation and institutions: the Industrial Revolution and the Great Divergence," Journal of Economic Growth, Springer, vol. 25(1), pages 1-35, March.

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