Institutions and Economic Development / Classroom Companion: Economics (PDF)
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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-drivendevelopment 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.
This marvellous handbook displays an impressive grasp of the vast literature on economic development, highlighting the crucial role of liberal ideas of freedom for economic success. The handbook masterfully summarizes debates on free markets, institutions, and culture as causes of development. This is the best textbook treatment of liberalism and development that I have ever seen.
William Easterly, Professor of Economics at New York University (NYU) and Co-Director, NYU Development Research Institute.Tom G. Palmer is executive vice president for international programs at Atlas Network where he holds the George M. Yeager Chair for Advancing Liberty. He is also a senior fellow at Cato Institute. He has travelled extensively to work with NGOs promoting liberal democracy and locally-led economic development. He has also published in journals such as the Harvard Journal of Law and Public Policy, Foreign Policy, Ethics, Critical Review, Global Policy, Eurasia Review, and Constitutional Political Economy. He is the author of numerous books, including (with Matt Warner) Development with Dignity (2022), and (with William A. Galston) Truth and Governance: Religious and Secular Views (2021).
- Autoren: Bryan Cheang , Tom G. Palmer
- 2023, 1st ed. 2023, 202 Seiten, Englisch
- Verlag: Springer Nature Singapore
- ISBN-10: 9819908442
- ISBN-13: 9789819908448
- Erscheinungsdatum: 29.04.2023
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