Institutions and Economic Development
GRIN Verlag, 2010 - 36 pages
Seminar paper from the year 2008 in the subject Politics - International Politics - Topic: Globalization, Political Economics, University of Flensburg (European Studies), course: Seminar: "World Economic Policy," language: English, abstract: The main goal of Development Economics is to find the reasons for the rather big differences in levels of income throughout the world. Why, for instance, did European nations after the eighteenth century develop faster than Asian, African or Latin American nations and what can be done to reduce the so caused differences in income and growth?1 In recent years, many economists used institutions to explain why structural adjustment programs in poor countries have failed so far. Not the programs itself, so the tenor, but the lack of "good institutions" has been blamed for the failure of many developing countries to catch up. In this paper, the current institution centered orthodoxy in development economics will be discussed from a critical point of view. In the first part, different strands of development theory will be reviewed. Secondly, the reasons for the prominence of New Institutional Economics will be analyzed. Finally, it will be discussed, if the institutional approach is holding its promises and if it is useful to focus on the institutional variable to explain economical development.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
accepted definition Acemoglu African akademische Texte argues Asian beliefs causality Chang Colonial Heritage colonial powers correlation between institutions created institutions Critical Discussion cultural context culture and institutions developing countries Development A Critical Development Economics GRIN economic growth effect elites emphasize the role Engermann environment European Evans experience dramatic explain growth Factor endowments Form and function foster cooperation geography GRIN Verlag historical individual values influence economic development informal institutions Institution-Centred Orthodoxy institutional approach institutional complex Institutional development Institutional Economics institutions and development institutions and economic Institutions play institutions that help International Trade levels of income liberalist linked literature on institutions malaria Marlene Langholz Institutions Norms orthodox literature Orthodoxy in Development policies Political Conflict private property rights promote development property rights system protection of property Reinert relationship between institutions Richman Sachs secure property rights Shirley Sokoloff strong institutions Tabellini theories tropical disease types of institutions underdevelopment