1st Edition

Institutions, Social Norms and Economic Development

408 Pages

by Routledge

361 Pages

by Routledge

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Description

In order for economic specialization to develop, it is important that well-defined property rights are established and that suspicion and fear of fraud do not pervade transactions. Such conditions cannot be created ex abrubto, but must somehow evolve. What needs to develop is not only suitable practices and rules themselves, but also the public agencies and moral environment without which... Read more

1: The Subject Put into Perspective; 2: Resource Endowments and Agricultural Development; 3: Property Rights in Land; 4: Property Rights in Land; 5: Egalitarian Norms and Economic Growth; 6: Endogeneity in the Rise of Market Order; 7: Market Order, the Rule of Law and Moral Norms; 8: No Easy Answer