Bryan Cheang,Tom G. Palmer
Institutions and Economic Development: Markets, Ideas, and Bottom-Up Change
Institutions and Economic Development: Markets, Ideas, and Bottom-Up Change
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This book emphasizes the importance of institutions and social values in long-run development,drawing from the works of Nobel Laureates and arguing that property rights,the rule of law,and market freedoms are essential. It also theorizes on the role of political entrepreneurs in driving endogenous institutional change,integrating theoretical discussion with case studies from around the world.
Format: Paperback / softback
Length: 202 pages
Publication date: 30 April 2023
Publisher: Springer Verlag, Singapore
This comprehensive book delves into the realm of development studies, offering a political economy perspective. It begins by examining the extensive academic literature on development, emphasizing the crucial role of institutions and social values in shaping long-term growth. Drawing inspiration from renowned scholars such as Douglass North, F.A. Hayek, and Elinor Ostrom, the book argues that the establishment of property rights, the rule of law, and market freedoms are fundamental ingredients for fostering socio-economic progress.
However, successful reforms go beyond the mere construction of formal institutions. They must align with the social values, norms, and cultural commitments of local communities. Recognizing this, the book explores the often overlooked role of political entrepreneurs in driving endogenous institutional change. By integrating theoretical discussions on market-driven development with a diverse range of case studies from around the world, the book showcases the bottom-up efforts of local change agents to pursue institutional reforms and alter social opinions.
Through its insightful analysis and compelling evidence, this book provides valuable insights into the complex dynamics of development, highlighting the importance of institutions, social values, and political entrepreneurship in achieving sustainable and equitable growth. It serves as a valuable resource for scholars, policymakers, and practitioners seeking to understand the intricacies of development processes and promote positive change in society.
Weight: 404g
Dimension: 235 x 155 (mm)
ISBN-13: 9789819908431
Edition number: 1st ed. 2023
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