{"product_id":"9780691235561-the-institutional-foundation-of-economic-development","title":"The Institutional Foundation of Economic Development","description":"\u003cmeta content=\"text\/html; charset=utf-8\" http-equiv=\"Content-Type\"\u003e\u003cp\u003e\u003cspan\u003e\u003cp\u003e\u003cb\u003eA systemic account of how institutions shape economic development\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003eInstitutions matter for economic development. Yet despite this accepted wisdom, new institutional economics (NIE) has yet to provide a comprehensive look at what constitutes the institutional foundation of economic development (IFED). Bringing together findings from a range a fields, from development economics and development studies to political science and sociology, \u003ci\u003eThe Institutional Foundation of Economic Development\u003c\/i\u003e explores the precise mechanisms through which institutions affect growth.\u003cbr\u003e\u003cbr\u003eShiping Tang contends that institutions shape economic development through four “Big Things”: possibility, incentive, capability, and opportunity. From this perspective, IFED has six major dimensions: political hierarchy, property rights, social mobility, redistribution, innovation protection, and equal opportunity. Tang further argues that IFED is only one pillar within the New Development Triangle (NDT): sustained economic development also requires strong state capacity and sound socioeconomic policies.\u003cbr\u003e\u003cbr\u003eArguing for an evolutionary approach tied to a country’s stage of development, \u003ci\u003eThe Institutional Foundation of Economic Development \u003c\/i\u003eadvances an understanding of institutions and economic development through a holistic, interdisciplinary lens.\u003c\/p\u003e\n\u003cbr\u003e\u003cbr\u003e\u003c\/span\u003e\u003c\/p\u003e","brand":"Rarewaves","offers":[{"title":"Default Title","offer_id":53567371018614,"sku":"9780691235561","price":108.66,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0092\/7504\/8033\/files\/orig_27238472.jpg?v=1730225347","url":"https:\/\/www.rarewaves.com\/products\/9780691235561-the-institutional-foundation-of-economic-development","provider":"Rarewaves.com","version":"1.0","type":"link"}