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Institutions, Economics and the Development Quest

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  • Duarte N. Leite

    () (CEF-UP (Center for Economics and Finance at UP), FEP (Faculdade de Economia da Universidade do Porto)

  • Sandra T. Silva

    () (CEF-UP (Center for Economics and Finance at UP), FEP (Faculdade de Economia da Universidade do Porto)

  • Óscar Afonso

    () (CEF-UP (Center for Economics and Finance at UP), FEP (Faculdade de Economia da Universidade do Porto)

Abstract

Institutions, crucial for the analysis of how agents deal with uncertainty, have been gaining increasing relevance on the Economic research agenda. In this paper, we analyze the institutional literature that provides insights into different research fields, aiming to explain why this perspective obtains better results than others, in the field of growth and Development Economics. In particular, we stress the relevance of New Institutional Economics as an adequate framework for a broad understanding of development issues.

Suggested Citation

  • Duarte N. Leite & Sandra T. Silva & Óscar Afonso, 2012. "Institutions, Economics and the Development Quest," FEP Working Papers 457, Universidade do Porto, Faculdade de Economia do Porto.
  • Handle: RePEc:por:fepwps:457
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    1. How is institutional economics doing? Very well
      by UDADISI in UDADISI on 2012-05-13 05:04:00
    2. The Best 10 Economics Papers of 2012
      by UDADISI in UDADISI on 2012-12-14 04:44:00

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    Cited by:

    1. Andreea Stoian & Rui Henrique Alves, 2012. "Can EU high indebted countries manage to fulfill fiscal sustainability? Some evidence from the solvency constraint," FEP Working Papers 464, Universidade do Porto, Faculdade de Economia do Porto.
    2. Ricardo Biscaia & Paula Sarmento, 2012. "Cost inefficiency and Optimal Market Structure in Spatial Cournot Discrimination," FEP Working Papers 462, Universidade do Porto, Faculdade de Economia do Porto.
    3. João Correia-da-Silva & Joana Pinho, 2012. "The profit-sharing rule that maximizes sustainability of cartel agreements," FEP Working Papers 463, Universidade do Porto, Faculdade de Economia do Porto.
    4. Peter Lloyd & Cassey Lee, 2016. "A Review of the Recent Literature on the Institutional Economics Analysis of the Long-Run Performance of Nations," Department of Economics - Working Papers Series 2019, The University of Melbourne.
    5. Pedro Cosme Costa Vieira, 2012. "A low cost supercritical Nuclear + Coal 3.0 Gwe power plant," FEP Working Papers 461, Universidade do Porto, Faculdade de Economia do Porto.

    More about this item

    Keywords

    Institutions; Institutional change; Economic development;

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights

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