This chapter discusses two propositions: (1) institutions matter and (2) the determinants of institutions susceptible to the tools of economic analysis. Transaction costs include the direct costs of obtaining information, negotiating among the parties to an agreement, and communicating all...

The Annual World Bank Conference on Development Economics 2011: Development Challenges in a Post-crisis World (ABCDE) presents papers from a global gathering of the world's leading development scholars and practitioners held May 31 - June 2, 2010. Paper themes include: Environmental Commons and...