Grand Pattern of Development and the Transition of Institutions

Challenges traditional views on development to show the direction of causality is from income to institutions.

List of contents

Foreword; Part I. Main Ideas: 1. Introduction; 2. Some technical points; 3. The largest historical event: the end of Soviet socialism; Part II. The Transitions of Institutions: Part IIA. The Democratic Transition: 4. Literature, data, transition path and causality; 5. The jumps model for the short run, 1960-2016; 6. Events are practically random; 7. Three pillars model for the long run, 1800-2016; Part IIB. The Transition of the Economic System: 8. Ownership preferences: the B-index; 9. Economic freedom: the F-index; Part IIC. The Transitions in Traditions and Beliefs: 10. The transition of corruption; 11. The religious transition; Part III. The Grand Transition: 12. The hump-shaped transition path for the growth rate; 13. Do improvements of institutions harm development?; 14. Conclusions.

About the author

Martin Paldam is Professor Emeritus in the Department of Economics and Management at Aarhus University.

Summary

Summarizes the relationship between economic development with regards to income on the one hand and the evolution of institutions on the other; the transition of countries from one economic and social system to another. Challenges traditional views on development to show the direction of causality is from income to institutions.

Product details

• Authors: Martin Paldam, Martin (Aarhus Universitet Paldam, Paldam Martin
• Publisher: Cambridge University Press ELT
• Languages: English
• Product format: Hardback
• Released: 31.08.2021
• EAN: 9781316515501
• ISBN: 978-1-316-51550-1
• No. of pages: 286
• Subjects: Social sciences, law, business > Business > Miscellaneous; BUSINESS & ECONOMICS / Money & Monetary Policy, BUSINESS & ECONOMICS / Economics / Macroeconomics, BUSINESS & ECONOMICS / Development / Economic Development, macroeconomics, economic growth, Monetary Economics