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Which institutions matter? Separating the chaff from the wheat

Published online by Cambridge University Press:  08 February 2011

ARIELLE JOHN
Affiliation:
Department of Economics, George Mason University, Fairfax, VA, USA
VIRGIL HENRY STORR*
Affiliation:
Department of Economics, George Mason University, Fairfax, VA, USA
*

Abstract:

Ha-Joon Chang (2011), in his article ‘Institutions and Economic Development: Theory, Policy and History’, argues that economists place too much faith in ‘liberalized’ institutions. Institutions matter for growth, he contends, but not the way institutional economists think they do. In this article, we offer a defense of the hypothesis that ‘institutions matter’ for economic growth and present several objections to Chang's arguments.

Type
Research Article
Copyright
Copyright © The JOIE Foundation 2011

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