9780472030392

Imperfect Institutions: Possibilities And Limits Of Reform

by
  • ISBN13:

    9780472030392

  • ISBN10:

    0472030396

  • Format: Paperback
  • Copyright: 2005-04-13
  • Publisher: Univ of Michigan Pr
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Summary

The emergence of New Institutional Economics toward the end of the twentieth century profoundly changed our ideas about the organization of economic systems and their social and political foundations. Imperfect Institutions explores recent developments in this field and pushes the discussion forward by allowing for incomplete knowledge of social systems and unexpected system dynamics and, above all, by focusing explicitly on institutional policy. Empirical studies extending from Africa to Iceland are cited in support of the theoretical argument.In Imperfect Institutions Thrainn Eggertsson extends his attempt to integrate and develop the new field that began with his acclaimedEconomic Behavior and Institutions(1990), which has been translated into six languages. This latest work analyzes why institutions that create relative economic backwardness emerge and persist and considers the possibilities and limits of institutional reform.Thrainn Eggertsson is Professor of Economics at the University of Iceland and Global Distinguished Professor of Politics at New York University. Previously published works includeEconomic Behavior and Institutions(1990) andEmpirical Studies in Institutional Changewith Lee Alston and Douglass North (1996).

Author Biography

Thrainn Eggertsson is Professor of Economics at the University of Iceland and Global Distinguished Professor of Politics at New York University

Table of Contents

Introduction. Opportunities Lost 1(8)
PART I. Imperfect Institutions---Theory
Imperfect Institutions and Growth Theory in Modern Economics
9(14)
Barriers to Growth: Institutions and Social Technologies
23(11)
Competing Social Models
34(13)
Stable Poverty and Unstable Growth
47(12)
The Political Logic of Bad Economics
59(15)
Inefficient Social Norms
74(25)
PART II. Empirical Interlude: Poverty Trap---A Case Study
Why Iceland Starved
99(28)
PART III. Institutional Policy
Applying Social Technologies: Lessons from the Old Theory of Economic Policy
127(11)
Degrees of Freedom in Institutional Reform
138(14)
Eluding Poverty Traps, Escaping History
152(22)
Minimal Property Rights and Legal Transplants
174(17)
Conclusion. The Subtle Art of Major Institutional Reform 191(12)
Notes 203(28)
Bibliography 231(24)
Author Index 255(6)
Subject Index 261

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