Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/63562
Authors: 
Reinert, Erik S.
Year of Publication: 
2006
Series/Report no.: 
Research Paper, UNU-WIDER, United Nations University (UNU) 2006/77
Abstract: 
This paper argues for an ‘ancient’ institutional school, predating Thorstein Veblen’s ‘old’ institutionalism. In this view, going back as far as the thirteenth century, institutions tended to be seen as specific to a mode of production. Here both institutions and development itself are context-specific and activity-specific. Much clearer than today the arrows of causality of economic development go from the mode of production to the institutional setting, not vice versa. In order to understand development, institutions can also usefully be divided into Hayekian institutions that facilitate equilibrium and Schumpeterian institutions that enable the dynamics of development and structural change. – institutions ; structural change ; uneven development ; ancient institutional school
JEL: 
B15
B52
O10
O30
ISBN: 
929190855X
Document Type: 
Working Paper

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