The paper critically examines the explanations of the Asian crisis which emphasize the role of national policies and institutions that allegedly created moral hazard by overprotecting the investors - industrial policy, crony capitalism, and government guarantees accorded to banks and industrial...

This paper discusses how the theory on the role of institutions in development can be improved, by critically examining the current orthodox discourse on institutions. To understand the relationship between institutions and economic development, it is necessary to have some balance between...

This article analyses the complex interplay of various factors in the 'late marketisation' in China and Vietnam and the 'late industrialisation' in Korea, Taiwan and Japan. The article distinguishes the degree of 'comparative advantage-defying' and 'comparative advantage-following' strategies...

The rise of the institutionalist and evolutionary approaches in economics has posed a serious intellectual challenge to the dominant neo-classical paradigm. This book draws together leading scholars in the fields of institutional and evolutionary economics who apply cutting-edge research to one...

This is the first in an occasional series of DPR Debates, designed to illuminate specific issues of international development policy. Each debate will bring together two well-known researchers or practitioners, giving them the opportunity, over three rounds, to test and challenge each other's...

This paper critically examines the role of industrial policy in the economic development of East Asian countries with a view to drawing lessons for other countries, especially European ones. It describes the evolution of industrial policies in Japan, Korea, Taiwan, and Singapore and evaluates...

The volume Institutional Change and Economic Development fills some important gaps in our understanding of the relationship between institutional changes and economic development. It does so by developing new discourses on the 'technology of institution building' and by providing detailed case...