Tang, Shiping

The Institutional Foundation of Economic Development

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ISBN 13:
9780691235578
author:
Tang, Shiping
format:
Paperback
publisher:
Princeton University Press
language:
English
Publication Year:
2022
Pages:
328
Dimensions:
15.5 x 22.9 x 2.3 centimetres (0
Genre:
Business, Development, Economic Development,
Condition:
New
Availability:
Item usually sent within 10 working days
£28.48

Description

The Institutional Foundation of Economic Development by Shiping Tang explores how institutions shape economic development. Despite accepted wisdom, new institutional economics has yet to provide a comprehensive understanding of the institutional foundation of economic development. Tang argues that institutions affect growth through four key mechanisms: possibility, incentive, capability, and opportunity. He identifies six major dimensions of the institutional foundation of economic development, including political hierarchy, property rights, social mobility, redistribution, innovation protection, and equal opportunity. The book also considers the role of strong state capacity and sound socioeconomic policies in sustained economic development. By examining institutions through a holistic, interdisciplinary lens, Tang advances our understanding of how institutions impact economic growth and development.

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