Markets, Governance, and Institutions in the Process of Economic Development PDF Download

Author: Ajit Mishra
Publisher: Oxford University Press
ISBN: 0198812558
Category : Business & Economics
Languages : en
Pages : 417

View

Book Description
With contributions from past and present collaborators, this book celebrates the contributions of Kaushik Basu to development economics. It reflects on the issues of rent control, child labour, labour laws, harrassment, shared prosperity, and gender empowerment in the broader context of interactions between markets, governments, and institutions.

Author: Bryan Cheang
Publisher: Springer Nature
ISBN: 9819908442
Category : Business & Economics
Languages : en
Pages : 210

View

Book Description
This book is a survey of the field of development studies from a political economy perspective. It first reviews the academic literature on development and highlights the fundamental importance of institutions and social values, over and above other alternative theories, as determinants in long-run development. In this context, the book draws from the works of Nobel Laureates Douglass North, F.A. Hayek and Elinor Ostrom, and argues that the ingredients of property rights, the rule of law, and market freedoms are essential in generating socio-economic progress. Successful reforms however are not simply a function of constructing formal institutions, but must cohere with the social values, norms, and cultural commitments of local communities. It is in this spirit that the book theorises on the oft-neglected role that political entrepreneurs play in driving endogenous institutional change. Specifically, this book integrates the theoretical discussion on market-driven development with a range of case studies from around the world, featuring the bottom-up efforts of local change agents to pursue institutional reforms and changes in social opinion.

Author: Joachim Ahrens
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 454

View

Book Description
Outlines a theory of governance and applies it to key problems relating to the implementation of economic reforms in less developed countries and economies in transition.

Author: Jean-Marie Baland
Publisher: Princeton University Press
ISBN: 0691192014
Category : Business & Economics
Languages : en
Pages : 786

View

Book Description
The definitive reference on the most current economics of development and institutions The essential role that institutions play in understanding economic development has long been recognized across the social sciences, including in economics. Academic and policy interest in this subject has never been higher. The Handbook of Economic Development and Institutions is the first to bring together in one single volume the most cutting-edge work in this area by the best-known international economists. The volume’s editors, themselves leading scholars in the discipline, provide a comprehensive introduction, and the stellar contributors offer up-to-date analysis into institutional change and its interactions with the dynamics of economic development. This book focuses on three critical issues: the definitions of institutions in order to argue for a causal link to development, the complex interplay between formal and informal institutions, and the evolution and coevolution of institutions and their interactions with the political economy of development. Topics examined include the relationship between institutions and growth, educational systems, the role of the media, and the intersection between traditional systems of patronage and political institutions. Each chapter—covering the frontier research in its area and pointing to new areas of research—is the product of extensive workshopping on the part of the contributors. The definitive reference work on this topic, The Handbook of Economic Development and Institutions will be essential for academics, researchers, and professionals working in the field.

Author: Alexander Ebner
Publisher: Oxford University Press on Demand
ISBN: 0199231427
Category : Business & Economics
Languages : en
Pages : 423

View

Book Description
Where do markets come from and what drives their evolution? How do organizations cope with the competitive dynamism of markets? What is the role of governance mechanisms in the institutional coordination of markets? In this book, leading social scientists consider these questions and examine the institutional foundations of economic change.

Author: World Bank Group
Publisher: World Bank Publications
ISBN: 1464809518
Category : Business & Economics
Languages : en
Pages : 304

View

Book Description
Why are carefully designed, sensible policies too often not adopted or implemented? When they are, why do they often fail to generate development outcomes such as security, growth, and equity? And why do some bad policies endure? World Development Report 2017: Governance and the Law addresses these fundamental questions, which are at the heart of development. Policy making and policy implementation do not occur in a vacuum. Rather, they take place in complex political and social settings, in which individuals and groups with unequal power interact within changing rules as they pursue conflicting interests. The process of these interactions is what this Report calls governance, and the space in which these interactions take place, the policy arena. The capacity of actors to commit and their willingness to cooperate and coordinate to achieve socially desirable goals are what matter for effectiveness. However, who bargains, who is excluded, and what barriers block entry to the policy arena determine the selection and implementation of policies and, consequently, their impact on development outcomes. Exclusion, capture, and clientelism are manifestations of power asymmetries that lead to failures to achieve security, growth, and equity. The distribution of power in society is partly determined by history. Yet, there is room for positive change. This Report reveals that governance can mitigate, even overcome, power asymmetries to bring about more effective policy interventions that achieve sustainable improvements in security, growth, and equity. This happens by shifting the incentives of those with power, reshaping their preferences in favor of good outcomes, and taking into account the interests of previously excluded participants. These changes can come about through bargains among elites and greater citizen engagement, as well as by international actors supporting rules that strengthen coalitions for reform.

Author: Frank H. Stephen
Publisher: Edward Elgar Publishing
ISBN: 1784718211
Category : Business & Economics
Languages : en
Pages : 200

View

Book Description
This book draws on the analytical framework of New Institutional Economics (NIE) to critically examine the role which law and the legal system play in economic development. Analytical concepts from NIE are used to assess policies which have been supported by multilateral development organisations including securing private property rights, reform of the legal system and financial development. The importance of culture in shaping the legal environment, which in turn influences financial sector development, is also assessed using Oliver Williamson’s ‘levels of social analysis’ framework.

Author:
Publisher: University of Tampere
ISBN: 9514459172
Category :
Languages : en
Pages : 324

View

Book Description

Author: Mr.Pierre Dhonte
Publisher: International Monetary Fund
ISBN: 1451842740
Category : Business & Economics
Languages : en
Pages : 17

View

Book Description
This paper proposes an operational interpretation of the concept of economic governance. It argues that the capacity of governments to credibly ensure a secure economic environment provides an important benchmark against which governance can be evaluated. Such an environment—which is essential for sustained growth in a market economy—can be established through a rules–based system which ensures freedom of entry into the market, access to information, and sanctity of contracts. Since creating a secure economic environment involves profound, far–reaching social change, it has historically been a complex and lengthy process in most societies. However, basing policy prescriptions on this benchmark helps avoid possible conflicts between different social and moral values.

Author: Peter A. Cornelisse
Publisher: Edward Elgar Publishing
ISBN: 1849806586
Category : Business & Economics
Languages : en
Pages : 255

View

Book Description
'Characterizing and understanding why and how economic actors exchange goods and services is undoubtedly one of the most important concerns of economics. Cornelisse and Thorbecke provide us with a framework to better understand the bewildering diversity of forms of exchange according to items transacted, actors involved, and environments where exchanges occur. This is done by developing the novel concept of exchange configurations. This relatively simple lens makes for a fascinating re-interpretation of the long and complex process of economic development.' Alain de Janvry, University of California at Berkeley, US 'The authors of this volume are spot on when they note that "the perspective alters drastically when it is realized that economic exchange as it occurs in the real world is a laborious and costly process with uncertain and imperfect outcomes". We all have a lot to learn from this highly original, thought provoking contribution to our understanding of the very core of economic and development thinking.' Finn Tarp, United Nations University World Institute for Development Economics Research, Finland and University of Copenhagen, Denmark This innovative and important book develops a new framework for analysing exchange that takes place within and outside markets over the course of development. The authors argue that development and social and economic progress are greatly enhanced by a fluent and efficient exchange system. Conversely, the process of development encourages and facilitates trade. The authors introduce the concept of exchange configurations to capture the multiplicity of settings within which exchange occurs and the many different forms exchange and transactions can take. The book shows how exchange configurations can help to identify the factors that constrain the exchange process and lead to the formulation of effective reforms. It then uses a historical analysis of systems of exchange during different phases of development over the last two millennia to illustrate different exchange configurations. Exchange and Development will appeal to students at both the graduate and undergraduate level in the fields of economic development, international trade, microeconomics, institutional economics and economic history. Researchers in universities and policy makers in governments and international agencies will also draw much benefit from the entirely novel approach formulated in this book.