There is a growing consensus among economists and policy makers that institutions matter for economic development and that institutional reforms should be a priority for developing economies. Considering the emphasis on institutional reforms, this study asks whether a catch-up in institutional...

I. Concepts, Types, Causes, and Effects -- Inertia: resistance and endurance -- An Introduction to Institutional Inertia: Concept, Types and Causes -- The Origin of Development, Critical Juncture, and Institutional Inertia -- Context, Institutional Inertia and Development -- Inertia in Informal...