Political economy of institutions
- Course Code:
- Unit value:
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- Term 2
The course will deal with both the “new institutional” approaches to these questions and the mainstream policy agenda, as well as introducing students to alternative approaches based on a comparative historical analysis and the policy implications of these “political economy” approaches to the capitalist transition.
Objectives and learning outcomes of the course
On successful completion of the course, students will be able to:
- Relate how institutional performance in developing countries is influenced by the economics of institutions and the role of political economy.
- Discuss the transition to capitalism and identify institutions appropriate to that transition.
- Summarise new institutional approaches in contrast to mainstream policy agendas.
Method of assessmentAssessment weighting: Exam 70% / Coursework 30% (1 essay). All coursework is resubmittable.
- Khan, M and Jomo K.S. eds. Rents, Rent-Seeking and Economic Development. Cambridge: Cambridge University Press, 2000. Introduction, Chapters 1 & 2.
- Hariss, J., Hunter, J. and Lewis, C.M., (eds), The New Institutional Economics and Third World Development, London: Routledge, 1995.
- North, D., Institutions, Institutional Change and Economic Performance, Cambridge: Cambridge University Press, 1990
- Khan, M. State Failure in Developing Countries and Strategies of Institutional Reform, in Tungodden, Bertil, Nicholas Stern and Ivar Kolstad (eds) Annual World Bank Conference on Development Economics Europe: Toward Pro-Poor Policies: Aid Institutions and Globalization, Oxford: Oxford University Press and World Bank 2004.