The Grand Pattern of Development and the Transition of Institutions (Hardcover) (ISBN-13: 9781316515501)

The culmination of a long-lasting and impressive research program, this book summarizes the relationship between economic development with 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. The author considers the transitions of two types of institutions: The first is external; it is legal-administrative systems with staff and buildings. The political system and the economic system are considered. The second consists of traditions and beliefs. Here corruption and religiosity are considered. Contrary to the claim that institutions are causal to development, this book demonstrates that the main direction of causality is from income to institutions. As countries get wealthy, they become secular democracies with low corruption and a mixed economic system. In this impressive coda, Paldam shows that the evolution of institutions is not causal to the economic growth process but rather follows it.

Author: Martin Paldam
ISBN-10: 1316515508
ISBN-13: 9781316515501
Publisher: Cambridge University Press
Language: English
Published: 08/19/2021
Pages: 200
Format: Hardcover
Weight: 1.22lbs
Size: 9.00h x 6.00w x 0.69d