Understanding the Relationship between Institutions and Economic Development: Some Key Theoretical Issues
The paper tries to improve our understanding on the role of institutions in development by critically examining the current orthodox discourse on institutions and highlighting some of its key problems. After discussing some definitional problems, the chapter examines a number of problems in the orthodox literature arising from the widespread failure to distinguish between the forms and the functions of institution. Then it critically examines the excessive emphasis on property rights in the orthodox literature. Finally, it discusses a number of problems that arise from the simplistic view on institutional change that underlies the orthodox view on institutional persistence.
|Date of creation:||2006|
|Date of revision:|
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- Ha-Joon Chang, 2005. "Globalization, Global Standards, and the Future of East Asia," Global Economic Review, Taylor & Francis Journals, vol. 34(4), pages 363-378.
- Daron Acemoglu & Simon Johnson & James A. Robinson, 2000.
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NBER Working Papers
7771, National Bureau of Economic Research, Inc.
- Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
- Aron, Janine, 2000. "Growth and Institutions: A Review of the Evidence," World Bank Research Observer, World Bank Group, vol. 15(1), pages 99-135, February.
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