Institutions, Economics and the Development Quest

25 Pages Posted: 11 Jun 2014

See all articles by Duarte Nuno Leite

Duarte Nuno Leite

Max Planck Institute for Social Law and Social Policy; Universidade do Porto - CEF.UP - Center for Economics and Finance at UP

Sandra Tavares Silva

Universidade do Porto

Oscar Afonso

Universidade do Porto - Faculdade de Economia (FEP)

Date Written: July 2014

Abstract

Institutions crucial for the analysis of how agents deal with uncertainty have been gaining increasing relevance on the economic research agenda. In this paper, we analyze the institutional literature aiming to explain why this perspective obtains better results than others in development economics. In particular, we stress the relevance of New Institutional Economics as an adequate framework for a broad understanding of development issues.

Keywords: Economic development, Institutional change, Institutions

Suggested Citation

Leite, Duarte Nuno and Silva, Sandra Tavares and Afonso, Oscar, Institutions, Economics and the Development Quest (July 2014). Journal of Economic Surveys, Vol. 28, Issue 3, pp. 491-515, 2014. Available at SSRN: https://ssrn.com/abstract=2448760 or http://dx.doi.org/10.1111/joes.12038

Duarte Nuno Leite (Contact Author)

Max Planck Institute for Social Law and Social Policy ( email )

Amalienstra├če 33
M├╝nchen, 80799
Germany

Universidade do Porto - CEF.UP - Center for Economics and Finance at UP ( email )

Rua Dr. Roberto Frias
Porto, 4200-464
Portugal

Sandra Tavares Silva

Universidade do Porto ( email )

Rua Dr. Roberto Frias
4200-464 Porto
Portugal

Oscar Afonso

Universidade do Porto - Faculdade de Economia (FEP) ( email )

Rua Roberto Frias
s/n
Porto, 4200-464
Portugal

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