Post by Sapphire Capital on Jul 28, 2008 22:43:06 GMT 4
Comment on Evaluating Recipes for Development Success: The Policy Usefulness of Institutional and Political Analyses of Development
Philip Keefer
World Bank - Development Research Group (DECRG)
The World Bank Research Observer, Vol. 22, No. 2, pp. 159-164, 2007
Abstract:
In Evaluating Recipes for Development Success Avinash Dixit criticizes recent efforts to identify the fundamental causes of development and to distill policy recommendations from these efforts. This comment focuses on the strand of that literature related to institutions and development. Two arguments are important: that the rule of law and the security of property rights are important for growth and that they are the product of political institutions. Professor Dixit argues that identification and other concerns undermine the second argument and inhibit the formulation of policy recommendations. While these concerns are valid, research has begun to disaggregate broad political institutions (democracy and autocracy) and to look at the details of political competition, such as voter information and politician credibility, which are both more robust determinants of political decision-making and more susceptible to policy interventions.
papers.ssrn.com/sol3/papers.cfm?abstract_id=1146336
Philip Keefer
World Bank - Development Research Group (DECRG)
The World Bank Research Observer, Vol. 22, No. 2, pp. 159-164, 2007
Abstract:
In Evaluating Recipes for Development Success Avinash Dixit criticizes recent efforts to identify the fundamental causes of development and to distill policy recommendations from these efforts. This comment focuses on the strand of that literature related to institutions and development. Two arguments are important: that the rule of law and the security of property rights are important for growth and that they are the product of political institutions. Professor Dixit argues that identification and other concerns undermine the second argument and inhibit the formulation of policy recommendations. While these concerns are valid, research has begun to disaggregate broad political institutions (democracy and autocracy) and to look at the details of political competition, such as voter information and politician credibility, which are both more robust determinants of political decision-making and more susceptible to policy interventions.
papers.ssrn.com/sol3/papers.cfm?abstract_id=1146336