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Institutional Foundation of Economic Development

Name: Institutional Foundation of Economic Development
Brand: Princeton University Press
SKU: 38410460
Price: 38.01 EUR
Availability: InStock
Author: Shiping Tang
ISBN: 9780691235578

Shiping Tang

Jezik

Engleski

Knjiga Meki uvez

Libristo kod: 38410460

Nakladnici Princeton University Press, rujan 2022

A systemic account of how institutions shape economic developmentInstitutions matter for economic de... Cijeli opis

Libristo kod: 38410460

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38.01 €

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A systemic account of how institutions shape economic development

Institutions matter for economic development. Yet despite this accepted wisdom, new institutional economics (NIE) has yet to provide a comprehensive look at what constitutes the institutional foundation of economic development (IFED). Bringing together findings from a range a fields, from development economics and development studies to political science and sociology, The Institutional Foundation of Economic Development explores the precise mechanisms through which institutions affect growth.

Shiping Tang contends that institutions shape economic development through four “Big Things”: possibility, incentive, capability, and opportunity. From this perspective, IFED has six major dimensions: political hierarchy, property rights, social mobility, redistribution, innovation protection, and equal opportunity. Tang further argues that IFED is only one pillar within the New Development Triangle (NDT): sustained economic development also requires strong state capacity and sound socioeconomic policies.

Arguing for an evolutionary approach tied to a country’s stage of development, The Institutional Foundation of Economic Development advances an understanding of institutions and economic development through a holistic, interdisciplinary lens.