Path Dependence, Development, and the Dynamics of Institutional Reform
University of Toronto Law Journal, 2009
49 Pages Posted: 5 Jun 2009
Date Written: April 30, 2009
In the past decade, an institutional perspective on development has become increasingly prominent in development thinking. However, the reform experience thus far suggests that if institutions indeed matter for development, we still do not have a firm understanding of how to transforms dysfunctional institutions. Drawing on concrete examples of rule of law and property rights reforms, we argue that path dependence theory can shed some light on past failures and provide guidance for future reforms.
Keywords: Institutional theories, path dependence, rule of law, property rights, and development reforms
JEL Classification: K40, K11, O17, O20
Suggested Citation: Suggested Citation