Description
| Product ID: | 9780691235578 |
| Product Form: | Paperback / softback |
| Country of Manufacture: | GB |
| Title: | The Institutional Foundation of Economic Development |
| Authors: | Author: Shiping Tang |
| Page Count: | 328 |
| Subjects: | Institutions and learned societies: general, Institutions & learned societies: general, International relations, Economics, Development economics and emerging economies, Political economy, International relations, Economics, Development economics & emerging economies, Political economy |
| Description: | A systemic account of how institutions shape economic developmentInstitutions 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. A systemic account of how institutions shape economic development |
| Imprint Name: | Princeton University Press |
| Publisher Name: | Princeton University Press |
| Country of Publication: | GB |
| Publishing Date: | 2022-09-06 |
