Institutions for High-Quality Growth: What They are and How to Acquire Them / Dani Rodrik.

Format:

Book

Author/Creator:

Rodrik, Dani.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w7540.

NBER working paper series no. w7540

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Institutions for High-Quality Growth

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2000.

Summary:

This paper opens with a discussion of the types of institutions that allow markets to perform adequately. While we can identify in broad terms what these are, there is no unique mapping between markets and the non-market institutions that underpin them. The paper emphasizes the importance of local knowledge' and argues that a strategy of institution building must not over-emphasize best-practice blueprint' at the expense of experimentation. Participatory political systems are the most effective ones for processing and aggregating local knowledge. Democracy is a meta-institution for building good institutions. A range of evidence indicates that participatory democracies enable higher-quality growth.

Notes:

Print version record

February 2000.