The essential role that institutions play in understanding economic development has long been recognized across the social sciences, including in economics. Academic and policy interest in this subject has never been higher. The Handbook of Economic Development and Institutions is the first to bring together in one single volume the most cutting-edge work in this area by the best-known international economists. The volume’s editors, themselves leading scholars in the discipline, provide a comprehensive introduction, and the stellar contributors offer up-to-date analysis into institutional change and its interactions with the dynamics of economic development.
This book focuses on three critical issues: the definitions of institutions in order to argue for a causal link to development, the complex interplay between formal and informal institutions, and the evolution and coevolution of institutions and their interactions with the political economy of development. Topics examined include the relationship between institutions and growth, educational systems, the role of the media, and the intersection between traditional systems of patronage and political institutions. Each chapter—covering the frontier research in its area and pointing to new areas of research—is the product of extensive workshopping on the part of the contributors.
The definitive reference work on this topic, The Handbook of Economic Development and Institutions will be essential for academics, researchers, and professionals working in the field.
Jean-Marie Baland is professor of economics at the University of Namur. He is the coeditor of Inequality, Cooperation, and Environmental Sustainability (Princeton). François Bourguignon is emeritus professor of economics at the Paris School of Economics, where he was previously director. He is the author of The Globalization of Inequality (Princeton). Jean-Philippe Platteau is professor emeritus of economics at the University of Namur. He is the author of Islam Instrumentalized. Thierry Verdier is professor of economics at the Paris School of Economics, École des Ponts ParisTech, and Pontifical Catholic University of Rio de Janeiro. He is the coeditor of The Organization of Firms in a Global Economy.
"This is a fantastic volume with contributions by the leading scholars in the field. It not only puts on display the rich scholarship on institutions within economics, but it also opens wide avenues for future research. You will not finish this thick book in one sitting, but it is well worth the time to read and absorb its significant offerings."—Dani Rodrik, Harvard University
"Why is development economics so exciting? While the issues are of pressing importance for humanity, this volume illustrates that the excitement is also intellectual: to understand this truly interdisciplinary social science you need economics, anthropology, sociology, and political science. The Handbook of Economic Development and Institutions is a remarkable snapshot of the field."—James Robinson, University of Chicago
"This book brings together a cohesive and well-chosen set of high-quality essays on every possible subtopic under the general rubric of institutions and development. It offers readers the most significant material on this important subject all in one volume."—Ashok Kotwal, University of British Columbia
"This book summarizes recent research in what is currently one of the most exciting areas in development economics, and indeed, in economics more generally. The stellar collection of contributors and lead editors guarantees that this volume will have an impact. There is no comparable book in the field."—Sanjay Jain, University of Oxford
This handbook is the result of work funded under the Economic Development and Institutions research programme, https://edi.opml.co.uk/. Oxford Policy Management (OPM) was appointed by the UK Department for International Development to deliver this programme, which aims to “produce a body of evidence and insights into what practicable actions produce institutional changes that improve economic outcomes and increase growth”. The consortium is led by OPM and includes the Paris School of Economics, University of Namur, and Aide à la Décision Économique.