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The Role of Institutions in Economic Development

Author

Listed:
  • Douglas North

    (Washington University)

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.

Suggested Citation

  • Douglas North, 2003. "The Role of Institutions in Economic Development," ECE Discussion Papers Series 2003_2, UNECE.
  • Handle: RePEc:ece:dispap:2003_2
    as

    Download full text from publisher

    File URL: http://www.unece.org/fileadmin/DAM/oes/disc_papers/ECE_DP_2003-2.pdf
    File Function: First version, 2003
    Download Restriction: no

    Citations

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    Cited by:

    1. Evans, Lewis & Meade, Richard, 2005. "The Role and Significance of Cooperatives in New Zealand Agriculture, A Comparative Institutional Analysis," Working Paper Series 3847, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
    2. Reto Bertoni & Henry Willebald, 2015. "Do energy natural endowments matter? New Zealand and Uruguay in a comparative approach (1870-1940)," Documentos de trabajo 35, Programa de Historia Económica, FCS, Udelar.
    3. Salustri, Andrea & Viganò, Federica, 2017. "The non-profit sector as a foundation for the interaction among the social economy, the public sector and the market," MPRA Paper 78113, University Library of Munich, Germany.
    4. Roberto Dell’Anno, 2010. "Institutions and human development in the Latin American informal economy," Constitutional Political Economy, Springer, vol. 21(3), pages 207-230, September.
    5. repec:eee:ecolec:v:142:y:2017:i:c:p:148-162 is not listed on IDEAS
    6. Ritchie, Holly A., 2016. "Unwrapping Institutional Change in Fragile Settings: Women Entrepreneurs Driving Institutional Pathways in Afghanistan," World Development, Elsevier, vol. 83(C), pages 39-53.
    7. Henry Willebald & Javier Juambeltz, 2016. "Land frontier expansion in settler economies (1830- 1950): Was it a Ricardian process?," Documentos de Trabajo (working papers) 16-08, Instituto de Economía - IECON.
    8. Turhan, Ibrahim M., 2008. "Why did it work this time: a comparative analysis of transformation of Turkish economy after 2002," MPRA Paper 31158, University Library of Munich, Germany.

    More about this item

    Keywords

    Myrdal; institutions; comparative economic performance;

    JEL classification:

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

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