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The Institutional Foundation of Economic Development

ISBN: 0691235589 ;ISBN: 9780691235585 ;ISBN: 9780691235561 ;ISBN: 0691235562 ;ISBN: 9780691235578 ;ISBN: 0691235570 ;EISBN: 0691235589 ;EISBN: 9780691235585 ;OCLC: 1321806674

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  • Title:
    The Institutional Foundation of Economic Development
  • Author: Tang, Shiping
  • Subjects: Economic development ; Economics ; Institutional economics ; Political stability
  • Description: 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.
  • Publisher: United States: Princeton University Press
  • Creation Date: 2022
  • Format: 328 pages
  • Language: English
  • Identifier: ISBN: 0691235589
    ISBN: 9780691235585
    ISBN: 9780691235561
    ISBN: 0691235562
    ISBN: 9780691235578
    ISBN: 0691235570
    EISBN: 0691235589
    EISBN: 9780691235585
    OCLC: 1321806674
  • Source: ScholarVox International
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