Thursday, April 3, 2008

Economics of development

From Dani Rodrik's blog a reference to 4 excellent essays -

What should the World Bank know and think about governance?

You can read the four short essays on this question produced by Daron Acemoglu, Frank Fukuyama, Doug North, and myself here. There is much convergence of views in these essays, but also some disagreements. Daron and I disagree in particular on two issues: whether industrial policy makes sense or not (me: yes, Daron: no) and whether institutional reform should adopt a best-practice approach or not (me: no, Daron: yes). I take Doug North's views on the latter question to be much closer to mine than to Daron's--or at least they appeared to be so in the discussion following the presentations.

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