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Institutions and Norms in Economic Development.

Publication: Journal of Economic Issues
Publication Date: 01-DEC-08 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Institutions and Norms in Economic Development.(Book review)

Article Excerpt
Institutions and Norms in Economic Development, edited by Mark Gradstein and Kai A. Konrad. Cambridge, Mass.: The MIT Pres. 2006. Cloth: ISBN 978 262 07284 7, $30. 256 pages.

Because of the complexity of subject matter, the literature on economic development is vast. In the evolution of developmental thought, the early emphasis on narrowly defined "economic" factors shifts toward a society's institutional quality. Recent literature on economic development focuses on the role of political and economic institutions in determining the societal outcomes.

The book is divided into four parts. The first part is a single chapter entitled "The Development Puzzle," in which the editors of the book provide an overview of the literature on development. The remaining three...

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