Corruption is widely believed to negatively affect economic growth. However, many East and Southeast Asia countries either achieved or currently are achieving impressively rapid economic growth despite widespread corruption - the 'East Asian Paradox'. Is this negative relationship equally likely...

In many low-income transition countries, where formal institutions such as courts do not function effectively, informal institutions are often used by firms to minimize transaction risks. We examine the role of informal institutions, in the forms of relational contracting and social networks, in...

This comprehensive Research Review discusses seminal contributions by leading scholars on institutions and governance in developing countries. It analyses key theoretical perspectives on institutions and the empirical evidence of the role of institutions in economic development. Further, it...