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Institutions, Policies and Economic Development

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  • Grzegorz W. Kolodko

Abstract

Institutions are not only created and built, but also, and especially, need to be learnt. It is a process which takes place in all economies, but acquires a special importance in less advanced countries. Not only theoretical arguments, but also the practical experience over the past 15 years demonstrates that faster economic growth, and hence also more broadly, socioeconomic development, is attained by those countries which take greater care to foster the institutional reinforcement of market economy.

Suggested Citation

  • Grzegorz W. Kolodko, 2006. "Institutions, Policies and Economic Development," WIDER Working Paper Series RP2006-21, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:rp2006-21
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    References listed on IDEAS

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    1. Kolodko, Grzegorz W., 2000. "From Shock to Therapy: The Political Economy of Postsocialist Transformation," OUP Catalogue, Oxford University Press, number 9780198297437, Decembrie.
    2. Joseph E. Stiglitz, 1999. "More instruments and broader goals: moving toward the Post-Washington Consensus," Brazilian Journal of Political Economy, Center of Political Economy, vol. 19(1), pages 101-128.
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