Institutional Change and Development

Catalog description

Over the past two decades, the phrase ¿Institutions matter¿ has become a leitmotif in economics and policy circles. This course is an overview of the research (both theoretical and empirical) on institutions as the fundamental driver for economic development, with a particular emphasis on institutional change and institutional/policy reforms. The purpose of the course is to develop an understanding of the institutional foundations of an economy while critically assessing the conventional discourse in the discipline. Throughout the course, we approach institutional change from a historical perspective. Our focus is on institutional challenges faced by developing nations. In light of the recent institutional turmoil in Western countries, we also discuss institutional erosion and the rise of populism in developed nations.