Prologue
The new institutional economics is one of the the most important new bodies of theory to emerge in economics in recent years. The contributors to this volume address its significance for the developing world. The book is a major contribution to an area of debate still in its formative phase. The book challenges the orthodoxies of development, especially concerning the role of markets. It includes articles from Robert Bates, John Toye and Nobel Laureate Douglass North.
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