Building Institutions for Markets

Building Institutions for Markets

Author: World Bank

Publisher: World Bank Publications

Published: 2002

Total Pages: 196

ISBN-13: 9780195216073

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"Institutions fix the confines of and impose form upon the activities of human beings."-Walton Hamilton, 'Institutions', 1932.The 'World Development Report 2002: Building Institutions for Markets' undertakes the complex issue of the basic institutions needed for markets to function properly. This year's 'World Development Report' goes beyond a simple examination of institutional structure and explores the functions of institutions. Recognizing that one size does not fit all, the report asks what do all institutions which support markets do?The answer is simple: Institutions channel information, define and enforce property rights, and increase or prevent competition. Understanding the functions that current institutions and their proposed replacements would provide is the first step. The report contends that once you have identified the institutional functions that are missing, you can then build effective institutions by following some basic principles:- Complement what exists already - in terms of other supporting institutions, human capacities, and technology.- Innovate to suit local norms and conditions. Experimenting with new structures can provide a country with creative solutions that work.- Connect communities of market players through open information flows and open trade. Open trade and information flows create demand for new institutions and improve the functioning of existing structures.- Compete among jurisdictions, firms, and individuals. Increased competition creates demand for new institutions as old ones lose their effectiveness. It also affects how people behave - improving institutional quality.These broad lessons and careful analyses, which links theory with pertinent evidence, are provided in the report. 'World Development Report 2002: Building Institutions for Markets' contains selected 'World Development Indicators'.


Labour Markets, Institutions and Inequality

Labour Markets, Institutions and Inequality

Author: Janine Berg

Publisher: Edward Elgar Publishing

Published: 2015-01-30

Total Pages: 430

ISBN-13: 1784712108

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Labour market institutions, including collective bargaining, the regulation of employment contracts and social protection policies, are instrumental for improving the well-being of workers, their families and society. In many countries, these instituti


The Handbook of Economic Development and Institutions

The Handbook of Economic Development and Institutions

Author: Jean-Marie Baland

Publisher: Princeton University Press

Published: 2020-01-21

Total Pages: 786

ISBN-13: 0691191212

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"The essential role institutions play in understanding economic development has long been recognised and has been closely studied across the social sciences but some of the most high profile work has been done by economists many of whom are included in this collection covering a wide range of topics including the relationship between institutions and growth, educational systems, the role of the media and the intersection between traditional systems of patronage and political institutions. Each chapter covers the frontier research in its area and points to new areas of research and is the product of extensive workshopping and editing. The editors have also written an excellent introduction which brings together the key themes of the handbook. The list of contributors is stellar (Steven Durlauf, Throsten Beck, Bob Allen,and includes a diverse mix of Western and non Western, male and female scholars)"


Building Market Institutions in Post-communist Agriculture

Building Market Institutions in Post-communist Agriculture

Author: David A. J. Macey

Publisher: Lexington Books

Published: 2004

Total Pages: 266

ISBN-13: 9780739107355

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Editors David Macey, William Pyle, and Stephen Wegren, with a host of world-leading agrarian analyst and practitioners, unravel the shortcomings surrounding post-communist agrarian reform and answers how and why particular policies were adopted in Eurasia. Building Market Institutions in Post-Communist Agriculture draws on country-level case studies to analyze a range of initiatives that institutions have applied to agricultural economies. In this edited collection, contributors use a comparative analytical framework to project a universal process of agrarian transformation that continues to change the social, economic, and political characteristics of this part of the world.


Institutions and Development

Institutions and Development

Author: M. M. Shirley

Publisher: Edward Elgar Publishing

Published: 2010-01-01

Total Pages: 241

ISBN-13: 1848443994

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Both economic research and the history of foreign aid suggest that the largest barriers to development arise from a society's institutions - its norms and rules. This book explains how institutions drive economic development. It provides numerous examples to illustrate the complex, interlocking, and persistent nature of real world rules and norms.


Institutional Change and Economic Development

Institutional Change and Economic Development

Author: Ha-Joon Chang

Publisher: Anthem Press

Published: 2007-11-15

Total Pages: 327

ISBN-13: 0857286978

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‘Institutional Change and Economic Development’ discusses not just theoretical issues but a diverse range of real-life institutions – political, bureaucratic, fiscal, financial, corporate, legal, social and industrial – in the context of dozens of countries across time and space, spanning Britain, Switzerland and the USA in the past to Botswana, Brazil, and China today.


Marketcraft

Marketcraft

Author: Steven Kent Vogel

Publisher: Oxford University Press

Published: 2018

Total Pages: 201

ISBN-13: 019069985X

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Marketcraft argues that markets do not arise spontaneously but rather are crafted by individuals, firms, and most of all by governments. Thus "marketcraft" represents a core function of government comparable to statecraft. Vogel systematically reviews the implications of this argument, critiquing prevalent schools of thought and presenting innovative lessons for policy.


Can Africa Claim the 21st Century?

Can Africa Claim the 21st Century?

Author: Alan H. Gelb

Publisher: World Bank Publications

Published: 2000-01-01

Total Pages: 296

ISBN-13: 9780821344958

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Africa in the 21st Century offers a comprehensive review of development prospects in each of the major development sectors.


World Development Report 2017

World Development Report 2017

Author: World Bank Group

Publisher: World Bank Publications

Published: 2017-01-23

Total Pages: 605

ISBN-13: 1464809518

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Why are carefully designed, sensible policies too often not adopted or implemented? When they are, why do they often fail to generate development outcomes such as security, growth, and equity? And why do some bad policies endure? World Development Report 2017: Governance and the Law addresses these fundamental questions, which are at the heart of development. Policy making and policy implementation do not occur in a vacuum. Rather, they take place in complex political and social settings, in which individuals and groups with unequal power interact within changing rules as they pursue conflicting interests. The process of these interactions is what this Report calls governance, and the space in which these interactions take place, the policy arena. The capacity of actors to commit and their willingness to cooperate and coordinate to achieve socially desirable goals are what matter for effectiveness. However, who bargains, who is excluded, and what barriers block entry to the policy arena determine the selection and implementation of policies and, consequently, their impact on development outcomes. Exclusion, capture, and clientelism are manifestations of power asymmetries that lead to failures to achieve security, growth, and equity. The distribution of power in society is partly determined by history. Yet, there is room for positive change. This Report reveals that governance can mitigate, even overcome, power asymmetries to bring about more effective policy interventions that achieve sustainable improvements in security, growth, and equity. This happens by shifting the incentives of those with power, reshaping their preferences in favor of good outcomes, and taking into account the interests of previously excluded participants. These changes can come about through bargains among elites and greater citizen engagement, as well as by international actors supporting rules that strengthen coalitions for reform.