Economics of Information and the Theory of Economic Development

Joseph Stiglitz

No 1566, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper shows how recent developments in the Economics of Information can provide insights into economic relations in less developed countries, and how they can provide explanations for institutions which, in neoclassical theory, appear anomalous and/or inefficient. Sharecropping and other tenancy relationships in the rural sector and wage determination and urban unemployment are both investigated within this perspective.

Date: 1985-02
Note: ITI LS IFM
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Published as Stiglitz, J.E., 1985. "Economics of information and the theory of economic development," Brazilian Review of Econometrics, Sociedade Brasileira de Econometria - SBE, vol. 5(1), April.

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Journal Article: Economics of information and the theory of economic development (1985)
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