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The Institutional Foundation of Economic Development
Shiping Tang
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Sozialwissenschaften, Recht, Wirtschaft / Wirtschaft
Beschreibung
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.
Kundenbewertungen
Household, Developed country, Theoretical Value, Social mobility, GDP deflator, Market liquidity, Current account, Neoliberalism, Welfare economics, Market economy, Investment fund, Economic growth, Classical economics, Entrepreneurship, Institutional economics, World Bank Group, Autocracy, Capital accumulation, Capital control, Labour economics, Economic nationalism, Interest rate, Saving, Exchange rate, Incentive, Economic sociology, Economic indicator, Social evolution, Economic equilibrium, Net Investment Income, Economic power, Journal of Political Economy, Economic development, World Values Survey, Economic recovery, Evolutionary economics, Economic liberalization, Capital market, Basic education, Rate of return, Financial transaction, Neoclassical economics, Bureau of Economic Analysis, State (polity), Consumption (economics), Economic planning, Institution, Consumer spending, Convergence (economics), Supply (economics), Development economics, Knowledge economy, Endogeneity (econometrics), Economy, Globalization, Institutional theory, Innovation, Market integration, Currency, Economic interventionism, World Trade Organization, Social capital, International trade, World Bank, Economic policy, Historical institutionalism, Output (economics), Investment, Income, Economics