Theories of institutions and economic reform in Africa Export

@article{citeulike:2931310, abstract = {The paper presents and critically examines the theories of institutions that can be used as a guide to economic reform in Africa. Three approaches to institutions are initially discussed: the model of structural adjustment, new institutional economics and the old institutionalist tradition. Five institutions related to the development of markets in Africa are examined from the three perspectives. The institutions include property rights (including their role in agriculture), money and financial institutions, prices and markets, firms and industrial organization, and markets and states. The main conclusion of the paper is that structural adjustment due to its neoclassical roots is basically ainstitutional and therefore ill-equipped to promote the development of markets in Africa. While new institutionalism provides interesting insights, it is also limited by its neoclassical economic foundations. Thus if African governments desire to promote market reform they would be best advised to consult the old institutionalist literature, particularly the very interesting recent work of proponents of this tradition.}, author = {Stein, Howard}, citeulike-article-id = {2931310}, citeulike-linkout-0 = {http://dx.doi.org/10.1016/0305-750X(94)90177-5}, citeulike-linkout-1 = {http://www.sciencedirect.com/science/article/B6VC6-45F5X02-95/1/40143ee0f6c718a8cf1b5dcb39500127}, doi = {10.1016/0305-750X(94)90177-5}, journal = {World Development}, keywords = {juliepaper}, month = {December}, number = {12}, pages = {1833--1849}, posted-at = {2008-06-26 16:23:55}, priority = {2}, title = {Theories of institutions and economic reform in Africa}, url = {http://dx.doi.org/10.1016/0305-750X(94)90177-5}, volume = {22}, year = {1994} }

TY - JOUR ID - citeulike:2931310 L3 - citeulike-article-id:2931310 N2 - The paper presents and critically examines the theories of institutions that can be used as a guide to economic reform in Africa. Three approaches to institutions are initially discussed: the model of structural adjustment, new institutional economics and the old institutionalist tradition. Five institutions related to the development of markets in Africa are examined from the three perspectives. The institutions include property rights (including their role in agriculture), money and financial institutions, prices and markets, firms and industrial organization, and markets and states. The main conclusion of the paper is that structural adjustment due to its neoclassical roots is basically ainstitutional and therefore ill-equipped to promote the development of markets in Africa. While new institutionalism provides interesting insights, it is also limited by its neoclassical economic foundations. Thus if African governments desire to promote market reform they would be best advised to consult the old institutionalist literature, particularly the very interesting recent work of proponents of this tradition. IS - 12 JF - World Development EP - 1849 TI - Theories of institutions and economic reform in Africa VL - 22 SP - 1833 KW - juliepaper AU - Stein, Howard PY - 1994/12// UR - http://dx.doi.org/10.1016/0305-750X(94)90177-5 ER -