Economic Development, Growth and Institutions - Christopher Lockhart - Bog

Institutions are man-made structures that are meant for regulating the social, political, or economic interactions. The role of institutions is an important research area in developmental economics. The constitution, rules, policies, systems, procedures, principles, and arrangements can be considered as the institutions of a country. These can influence human interaction. Institutions are central for economic growth and development. The capabilities of institutions are highly dependent on the capacities of the state. The quality of economic institutions has a huge impact on the economic growth and development of an economy. This book attempts to understand the various aspects of economic development, growth and institutions. Also included herein is a detailed explanation of the impact of institutions on the economic growth. Coherent flow of topics, student-friendly language and extensive use of examples make this book an invaluable source of knowledge.