Which Institutions Matter? Separating the Chaff from the Wheat
Journal of Institutional Economics, 7 (4), 2011
7 Pages Posted: 7 Jan 2016
Date Written: February 8, 2011
Abstract: Ha-Joon Chang (2011), in his article ‘Institutions and Economic Development: Theory, Policy and History’, argues that economists place too much faith in ‘liberalized’ institutions. Institutions matter for growth, he contends, but not the way institutional economists think they do. In this article, we offer a defense of the hypothesis that ‘institutions matter’ for economic growth and present several objections to Chang’s arguments.
Keywords: institutions, development, liberalized
Suggested Citation: Suggested Citation