Authors:

  • Martin King Whyte

Excerpt

Sub-optimal Institutions but Superior Growth: The Puzzle of China's Economic Boom. Martin K. Whyte, 2014, Book Chapter. "A central claim of most theories of economic development is that a key to successful growth is “getting the institutions right.” In the West there is a rich literature devoted to what makes institutions right or wrong in terms of fostering growth dating from at least the time of Adam Smith and on down through to Coase (1988, 1992), North (1990, 1995), North and Thomas (1973), Dani Rodrik (2007), and many others. The set of institutional arrangements that came to be labeled the..." Link verified October 6, 2014