Economic Welfare, International Business and Global Institutional Change

Edited by Ram Mudambi, Pietro Maria Navarra and Giuseppe Sobbrio

in Books from Edward Elgar Publishing

Abstract: The distinguished authors in this volume address the fundamental causes for such heterogeneous international experiences, placing particular emphasis on the role of institutions. They demonstrate how the study of economic development is increasingly linked to the development of institutions, which allow for more complex exchanges to occur in markets and societies. Institutions can be understood as rules or constraints that channel individuals' actions in specific directions, and can be formal or informal depending on their genesis. The book highlights the connection between institutions and economic welfare by examining countries at different stages of development. Although the authors' study material effects, they also look at individual well-being which is more strongly influenced by the non-material products of institutions such as opportunity, freedom and relationships. They move on to highlight the role of institutions in global business, in terms of innovation, entrepreneurship and foreign direct investment. In the concluding chapters they focus on the actual process of transition from one institutional framework to another. Amongst other examples, they examine reforms to international financial institutions and constitutional adjustments in transition countries.

Keywords: Business and Management; Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
JEL-codes: H0 (search for similar items in EconPapers)
Date: 2003
ISBN: 9781843761884
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Citations: View citations in EconPapers (3)

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Chapters in this book:

Ch 1 Perspectives on Global Institutional Change

Ram Mudambi, Pietro Navarra and Giuseppe Sobbrio

Ch 2 Competition of Political–Economic Systems and Ideological Neutrality as Conditions for Viable Economic Development

Peter Bernholz

Ch 3 The Impact of the Electoral System and of Other Political Institutions on Public Debt and Government Finances in Italy

Silvia Fedeli and Francesco Forte

Ch 4 Institutions Matter for Procedural Utility: An Econometric Study of the Impact of Political Participation Possibilities

Alois Stutzer and Bruno Frey

Ch 5 Institutional Design in Plural Societies: Mitigating Ethnic Conflict and Fostering Stable Democracy

Bernard Grofman and Robert Stockwell

Ch 6 Fiscal Federalism and the Stability and Growth Pact: A Difficult Union

Fabrizio Balassone and Daniele Franco

Ch 7 The Changing Institutional Form of Innovation: From Exploiting Market Power to Developing Corporate Technological Capability

John Cantwell

Ch 8 Institutions, Entrepreneurship, and Growth: Biomedicine and Polymers in Sweden and Ohio

Bo Carlsson

Ch 9 Corporate Governance and Capital Markets in the Two Capitalisms

Martin Ricketts

Ch 10 Political Orientation and Multinational Investment Flows into Italy

Ram Mudambi, Pietro Navarra and Giuseppe Sobbrio

Ch 11 The Glorious Revolution of 1688: Successful Constitutional and Institutional Adjustment in a Period of Rapid Change

Charles Rowley and Matthew Dobra

Ch 12 The Politics of Poverty

Thráinn Eggertsson

Ch 13 The Role of International Monetary Institutions after the EMU and the Asian Crisis: Some Preliminary ideas using Constitutional Economics

Friedrich Schneider

Ch 14 On the Delegation of Powers – With Special Emphasis on Central and Eastern Europe

Eli M. Salzberger and Stefan Voigt

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