The New Comparative Economics
52 Pages Posted: 17 Jun 2003
Date Written: May 2003
In recent years, comparative economics experienced a revival, with a new focus on comparing capitalist economies. The theme of the new research is that institutions exert a profound influence on economic development. We argue that, to understand capitalist institutions, one needs to understand the basic trade-off between the costs of disorder and those of dictatorship. We then apply this logic to study the structure of efficient institutions, the consequences of colonial transplantation, and the politics of institutional choice.
Keywords: Comparative economics, institutions, colonial transplantations, transition
JEL Classification: P00, P10, P20, P50
Suggested Citation: Suggested Citation