Institutions and Development: State, Market, and Community

This course will explore the field of development economics and the role of institutions in economic development. We will begin by investigating the effect of institutions on development in general, and then move onto a range of specific institutions and their linkages to economic success or failure. Economic performance is strongly dependent on the economic policies selected and on the manner in which these policies are implemented by government agencies. Performance is also affected by property rights and contract enforcement mechanisms in the business community and by patterns of participation in community organizations. These and other institutional arrangements as well as the determinants and consequences of international differences in economic and political institutions are analyzed in this course. Additional topics include the effects of democratic political institutions on economic performance, the determinants of success or failure in community organization, the institutional challenges facing developing countries.