The Importance of Traditions for Development: Why Sometimes “Good Enough Is Enough”
Johannes Jütting (),
Denis Drechsler and
Indra de Soysa
Additional contact information
Indra de Soysa: OECD
No 34, OECD Development Centre Policy Insights from OECD Publishing
Abstract:
Sustainable development requires well co-ordinated and functioning formal and informal institutions. In developing countries, courts, regulations and formal conventions are often observed in the breach or fail to function. By default, informal institutions – tradition, culture, family structures and general social norms – play a crucial role. Trust, solidarity and social cohesion make up the tripod of community identity which can even promote development, as the Nobel Committee recognised by awarding its 2006 Peace prize to the micro credit pioneering Grameen Bank and its founder Muhammed Yunus.
Date: 2006-12-01
References: Add references at CitEc
Citations:
Downloads: (external link)
https://doi.org/10.1787/244743626677 (text/html)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:oec:devaac:34-en
Access Statistics for this paper
More papers in OECD Development Centre Policy Insights from OECD Publishing Contact information at EDIRC.
Bibliographic data for series maintained by ().