Research on the less industrialized regions of the world has undergone major changes in terms of theoretical rigor, methodological sophistication, and the diversification of analytical approaches since the publication of Samuel P. Huntingdon's essay, “Political Development and Political Decay,” in World Politics in 1965. Yet more than three decades later, comparativists are rediscovering political institutions, highlighting the originality of Huntington's scholarly contribution. The resurgence of institutional analysis has redirected attention to the potential variability of political outcomes in the face of sweeping global currents, generated important theoretical insights, and created new bases for dialogue across disparate research traditions. Nevertheless, the horizons of institutional research need to be broadened to address the challenges posed by international influences, two-way interactions between politics and society, and institutional fluidity.