Institutions And Macroeconomic Performance

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Institutions, Institutional Change and Economic Performance

Author : Douglass C. North
Publisher : Cambridge University Press
ISBN 13 : 1139642960
Total Pages : 231 pages
Book Rating : 4.1/5 (396 download)

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Book Synopsis Institutions, Institutional Change and Economic Performance by : Douglass C. North

Download or read book Institutions, Institutional Change and Economic Performance written by Douglass C. North and published by Cambridge University Press. This book was released on 1990-10-26 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: Continuing his groundbreaking analysis of economic structures, Douglass North develops an analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies, both at a given time and over time. Institutions exist, he argues, due to the uncertainties involved in human interaction; they are the constraints devised to structure that interaction. Yet, institutions vary widely in their consequences for economic performance; some economies develop institutions that produce growth and development, while others develop institutions that produce stagnation. North first explores the nature of institutions and explains the role of transaction and production costs in their development. The second part of the book deals with institutional change. Institutions create the incentive structure in an economy, and organisations will be created to take advantage of the opportunities provided within a given institutional framework. North argues that the kinds of skills and knowledge fostered by the structure of an economy will shape the direction of change and gradually alter the institutional framework. He then explains how institutional development may lead to a path-dependent pattern of development. In the final part of the book, North explains the implications of this analysis for economic theory and economic history. He indicates how institutional analysis must be incorporated into neo-classical theory and explores the potential for the construction of a dynamic theory of long-term economic change. Douglass C. North is Director of the Center of Political Economy and Professor of Economics and History at Washington University in St. Louis. He is a past president of the Economic History Association and Western Economics Association and a Fellow, American Academy of Arts and Sciences. He has written over sixty articles for a variety of journals and is the author of The Rise of the Western World: A New Economic History (CUP, 1973, with R.P. Thomas) and Structure and Change in Economic History (Norton, 1981). Professor North is included in Great Economists Since Keynes edited by M. Blaug (CUP, 1988 paperback ed.)

Institutions, Program Implementation, and Macroeconomic Performance

Author : Rouben Atoian
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Institutions, Program Implementation, and Macroeconomic Performance by : Rouben Atoian

Download or read book Institutions, Program Implementation, and Macroeconomic Performance written by Rouben Atoian and published by International Monetary Fund. This book was released on 2004-09 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses empirically the links among a country's institutions and political environment, its implementation of IMF-supported programs, and macroeconomic performance in a sample of 197 programs approved between 1992 and 2002. We find that a stronger institutional and political environment is associated with better macroeconomic outcomes, especially at longer time horizons. This direct beneficial effect of institutions on macroeconomic outcomes is in addition to their indirect effect through better program implementation. We also find that program implementation exerts an independent influence on macroeconomic outcomes, especially over shorter time horizons of up to two years. Better-implemented programs are associated with lower inflation and with initially weaker but ultimately stronger external and fiscal outcomes, but with a statistically insignificant impact on economic growth.

Institutions, Program Implementation, and Macroeconomic Performance

Author : Saleh M. Nsouli
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Institutions, Program Implementation, and Macroeconomic Performance by : Saleh M. Nsouli

Download or read book Institutions, Program Implementation, and Macroeconomic Performance written by Saleh M. Nsouli and published by . This book was released on 2006 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses empirically the links among a country`s institutions and political environment, its implementation of IMF-supported programs, and macroeconomic performance in a sample of 197 programs approved between 1992 and 2002. We find that a stronger institutional and political environment is associated with better macroeconomic outcomes, especially at longer time horizons. This direct beneficial effect of institutions on macroeconomic outcomes is in addition to their indirect effect through better program implementation. We also find that program implementation exerts an independent influence on macroeconomic outcomes, especially over shorter time horizons of up to two years. Better-implemented programs are associated with lower inflation and with initially weaker but ultimately stronger external and fiscal outcomes, but with a statistically insignificant impact on economic growth.

Institutions, Institutional Change and Economic Performance

Author : Douglass C. North
Publisher : Cambridge University Press
ISBN 13 : 9780521397346
Total Pages : 164 pages
Book Rating : 4.3/5 (973 download)

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Book Synopsis Institutions, Institutional Change and Economic Performance by : Douglass C. North

Institutions and Economic Performance

Author : Kevin E. Davis
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 692 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Institutions and Economic Performance by : Kevin E. Davis

Download or read book Institutions and Economic Performance written by Kevin E. Davis and published by Edward Elgar Publishing. This book was released on 2010 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of previously published articles.

Financial Conditions and Macroeconomic Performance

Author : Steven M. Fazzari
Publisher : Routledge
ISBN 13 : 1317470567
Total Pages : 193 pages
Book Rating : 4.3/5 (174 download)

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Book Synopsis Financial Conditions and Macroeconomic Performance by : Steven M. Fazzari

Download or read book Financial Conditions and Macroeconomic Performance written by Steven M. Fazzari and published by Routledge. This book was released on 2015-06-05 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of papers on financial instability and its impact on macroeconomic performance honours Hyman P. Minsky and his lifelong work. It is based on a conference at Washington University, St. Louis, in 1990 and includes among the authors Benjamin M. Friedman, Charles P. Kindleberger, Jan Kregel and Steven Fazzari. These papers consider Minsky's definitive analysis that yields such a clear and disturbing sequence of financial events: booms, government intervention to prevent debt contraction and new booms that cause a progressive buildup of new debt, eventually leaving the economy much more fragile financially.

The Oxford Handbook of Social and Political Trust

Author : Eric M. Uslaner
Publisher : Oxford University Press
ISBN 13 : 0190274816
Total Pages : 753 pages
Book Rating : 4.1/5 (92 download)

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Book Synopsis The Oxford Handbook of Social and Political Trust by : Eric M. Uslaner

Download or read book The Oxford Handbook of Social and Political Trust written by Eric M. Uslaner and published by Oxford University Press. This book was released on 2018-01-02 with total page 753 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores the foundations of trust, and whether social and political trust have common roots. Contributions by noted scholars examine how we measure trust, the cultural and social psychological roots of trust, the foundations of political trust, and how trust concerns the law, the economy, elections, international relations, corruption, and cooperation, among myriad societal factors. The rich assortment of essays on these themes addresses questions such as: How does national identity shape trust, and how does trust form in developing countries and in new democracies? Are minority groups less trusting than the dominant group in a society? Do immigrants adapt to the trust levels of their host countries? Does group interaction build trust? Does the welfare state promote trust and, in turn, does trust lead to greater well-being and to better health outcomes? The Oxford Handbook of Social and Political Trust considers these and other questions of critical importance for current scholarly investigations of trust.

Institutions, Macroeconomics, And The Global Economy

Author : Rafael Di Tella
Publisher : World Scientific Publishing Company
ISBN 13 : 9813101970
Total Pages : 603 pages
Book Rating : 4.8/5 (131 download)

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Book Synopsis Institutions, Macroeconomics, And The Global Economy by : Rafael Di Tella

Download or read book Institutions, Macroeconomics, And The Global Economy written by Rafael Di Tella and published by World Scientific Publishing Company. This book was released on 2005-09-05 with total page 603 pages. Available in PDF, EPUB and Kindle. Book excerpt: All managers face a business environment where international and macroeconomic phenomena matter. Understanding the genesis of financial and currency crises, stock market booms and busts, and social and labor unrest is a crucial aspect in making informed managerial decisions. Adverse macroeconomic phenomena can have a catastrophic impact on firm performance — witness the strong companies destroyed by the Mexican tequila crisis. Yet, at the same time, such episodes also create business opportunities — and not just for the hedge funds and speculators that profit from them. Managers that have and use a coherent framework for analyzing these phenomena will enjoy a competitive advantage.This book presents a series of case studies taught in the Harvard Business School course “Institutions, Macroeconomics, and the Global Economy.” The course addresses the opportunities created by the emergence of a global economy and proposes strategies for managing the risks that globalization entails.

Institutions, Economic Performance and the Visible Hand

Author : Ashok Chakravarti
Publisher : Edward Elgar Publishing
ISBN 13 : 1781001413
Total Pages : 257 pages
Book Rating : 4.7/5 (81 download)

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Book Synopsis Institutions, Economic Performance and the Visible Hand by : Ashok Chakravarti

Download or read book Institutions, Economic Performance and the Visible Hand written by Ashok Chakravarti and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This book represents an important next step in the new institutional economics. Using this perspective, it undertakes a thorough re-examination of the problems of development.' – Barry R. Weingast, Stanford University, US 'Institutions, Economic Performance and the Visible Hand is a wide ranging, well-written, and provocative contribution to the study of political and economic organization. Ashok Chakravarti advances arguments and interpretations that are both interesting and, often, controversial. Although I find myself "arguing" with many of them, this is one of the many virtues of the book. I recommend the book to others who have an interest in institutional economics – why it is important, where it has been, and where it is going.' – Oliver E. Williamson, Nobel Laureate in Economics, University of California, Berkeley, US 'This is an ambitious and wide-ranging book, which seeks to overthrow the minimalist view of the role of institutions in economic systems contained in the standard economic model, and instead advocates a more active institution-building effort to promote the development of poor countries. This important contribution is to review and consolidate the themes and issues that emerge from a very large literature on the subject of institutions and economic development, and to coherently formulate hypotheses relating institutions to economic performance. This should be useful to a wide range of scholars.' – John Toye, University of Oxford, UK This timely study convincingly argues that it is not resources but the institutions which govern the interaction and decision-making of economic and political agents, that are the key factor in determining the economic performance of nations. The book challenges the conventional wisdom on the determinants of economic performance and provides an alternative vision of the functioning of an economic system. The author provides a structured survey which critically evaluates the theory and evidence of neoclassical approaches to growth and development. He then skillfully integrates insights from the old and new institutional economics into an original and comprehensive vision of the relationship between institutions, growth and economic development. Institutions, Economic Performance and the Visible Hand will be of special interest to academics, financial analysts and commentators, staff of international development agencies and NGOs, researchers and post-graduate students.

Institutions, Program Implementation, and Macroeconomic Performance

Author :
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (848 download)

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Book Synopsis Institutions, Program Implementation, and Macroeconomic Performance by :

Download or read book Institutions, Program Implementation, and Macroeconomic Performance written by and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Institutions and (short-run) Macroeconomic Performance

Author : Shaun Hargreaves Heap
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (6 download)

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Book Synopsis Institutions and (short-run) Macroeconomic Performance by : Shaun Hargreaves Heap

Download or read book Institutions and (short-run) Macroeconomic Performance written by Shaun Hargreaves Heap and published by . This book was released on 1991 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Institutions and Macroeconomic Performance

Author : Eckhard Hein
Publisher :
ISBN 13 :
Total Pages : 82 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Institutions and Macroeconomic Performance by : Eckhard Hein

Download or read book Institutions and Macroeconomic Performance written by Eckhard Hein and published by . This book was released on 2001 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Institutions, Transition Economies, And Economic Development

Author : Tim Yeager
Publisher : Routledge
ISBN 13 : 0429979398
Total Pages : 160 pages
Book Rating : 4.4/5 (299 download)

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Book Synopsis Institutions, Transition Economies, And Economic Development by : Tim Yeager

Download or read book Institutions, Transition Economies, And Economic Development written by Tim Yeager and published by Routledge. This book was released on 2018-02-07 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why are some nations wealthy while others are desperately poor? Despite the rapid advancement of technology and the free flow of information provided by computers, many poor nations are falling further behind the wealthy nations of the world. Why is it that these poorer nations cannot catch up? Until recently, economic theory provided limited help in answering these questions. But the New Institutional Economics, a rapidly growing body of economic theory, may provide the answers. Timothy Yeager's Institutions, Transition Economies, and Economic Development clearly explains the New Institutional Economics, and applies its tenets to the transition economies of Poland and Russia. Readers will gain a perspective on transition and developing economies that has never been explored before in a single book.

Rapid Growth and Relative Decline

Author : M. Setterfield
Publisher : Springer
ISBN 13 : 0230375871
Total Pages : 214 pages
Book Rating : 4.2/5 (33 download)

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Book Synopsis Rapid Growth and Relative Decline by : M. Setterfield

Download or read book Rapid Growth and Relative Decline written by M. Setterfield and published by Springer. This book was released on 1996-12-17 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do high rates of economic growth create conditions favourable to their own maintenance? Or can a period of high growth 'sow the seeds of its own destruction'? This book addresses these questions by conceiving growth and structural change as path dependent processes. Methodological, theoretical and empirical insights are combined in an extended model of cumulative causation, which shows how endogenously induced technological and institutional changes may cause the dynamics of a period of high growth to break down. This casts new light on the debate over Britain's economic decline.

The Political Economy of Macroeconomic Policy Reform in Latin America

Author : Eduardo Wiesner
Publisher : Edward Elgar Publishing
ISBN 13 : 184844026X
Total Pages : 297 pages
Book Rating : 4.8/5 (484 download)

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Book Synopsis The Political Economy of Macroeconomic Policy Reform in Latin America by : Eduardo Wiesner

Download or read book The Political Economy of Macroeconomic Policy Reform in Latin America written by Eduardo Wiesner and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a must read for anyone interested in policy reforms in Latin America. The author combines tremendous experience in the field and deep knowledge of economic theory: a rare combination. Alberto Alesina, Harvard University, US One of the key contributions of this book is its insistence on the importance of policy, institutional and political accountability for evaluating and enhancing macroeconomic performance and for reducing inequality. John B. Taylor, Stanford University and Hoover Institution, US Dr Wiesner combines a command of modern political and economic theories and detailed knowledge of Latin America to clarify why reform of policies and institutions has proved so difficult in that region. His general conclusion is that initial conditions of inequality and poverty reduce the demand for reform, but he finds that the process manifests itself differently in different countries. He identifies several necessary conditions for breaking out of these vicious circles. Scholars and practitioners alike can learn from his impressively thorough and detailed analysis. Avinash K. Dixit, Princeton University, US This book argues insightfully that underdevelopment is the result of the political economy difficulties some countries have in the effectiveness of public expenditures in general and of social pro-poor expenditures in particular. The policy implication is that reform strategies should focus on identifying the wrong political incentives in public expenditures. Ricardo Hausmann, Harvard University, US Eduardo Wiesner s book makes an important contribution to the understanding of development by blending together the interdependent issues of (i) macroeconomic performance and volatility, (ii) equity and distributive justice, (iii) fiscal deficits and the redistributive effectiveness of social public expenditures, and (iv) the demand for the right institutions and for policy reform in Latin America. It does this by examining recent macroeconomic crises from a political economy perspective, and finds that information is the critical algorithm that links together the demand for macroeconomic stability, macroeconomic performance and, ultimately, distributive justice. This volume is geared toward those interested in the political economy of development and policy reform in general and in Latin America, including academics, policy makers, and the general reader.

Institutions and Market Economies

Author : W. Garside
Publisher : Springer
ISBN 13 : 0230389945
Total Pages : 366 pages
Book Rating : 4.2/5 (33 download)

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Book Synopsis Institutions and Market Economies by : W. Garside

Download or read book Institutions and Market Economies written by W. Garside and published by Springer. This book was released on 2007-11-09 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a timely reminder of the more fundamental determinants of capital accumulation and innovation. It provides a mixture of conceptual, empirical, historical and methodological approaches to the relationship between institutions, institutional change and economic development.

Resource Windfalls, Macroeconomic Stability and Growth

Author : Mr.Rabah Arezki
Publisher : International Monetary Fund
ISBN 13 : 1455266434
Total Pages : 27 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis Resource Windfalls, Macroeconomic Stability and Growth by : Mr.Rabah Arezki

Download or read book Resource Windfalls, Macroeconomic Stability and Growth written by Mr.Rabah Arezki and published by International Monetary Fund. This book was released on 2011-06-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use a new dataset on non-resource GDP to examine the performance of commodity-exporting countries in terms of macroeconomic stability and economic growth in a panel of up to 129 countries during the period 1970-2007. Our main findings are threefold. First, we find that overall government spending in commodity-exporting countries has been procyclical. Second, we find that resource windfalls initially crowd out non-resource GDP which then increases as a result of the fiscal expansion. Third, we find that in the long run resource windfalls have negative effects on non-resource sector GDP growth. Yet, the effects turn out to be statistically insignificant when controlling for government spending. Both the effects of resource windfalls on macroeconomic stability and economic growth are moderated by the quality of political institutions.