Social Organizations, Risk-sharing Institutions, and Economic Development

Avner Greif, Murat Iyigun and Diego Sasson
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Diego Sasson: Goldman Sachs

Chapter 2 in Institutions and Comparative Economic Development, 2012, pp 48-63 from Palgrave Macmillan

Abstract: Abstract Economic, legal, and political institutions are important determinants of economic development (see, for example, North 1990). Economic institutions govern interactions among economic agents, legal institutions govern contractual relations and the private use of force, and political institutions govern the political decision-making process. Economic and political developments thus require institutions that support impersonal exchange and align the incentives of political decision-makers and the public.1

Keywords: Qing Dynasty; Communal Family; Song Dynasty; Modern Economy; Social Unrest (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-137-03401-4_3

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DOI: 10.1057/9781137034014_3

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