Contributors to this volume address the significance of new institutional economics to third world development. It includes articles from Douglas North, political scientist Robert Bates and John Toye.

The new institutional economics is one of the the most important new bodies of theory to emerge in economics in recent years. The contributors to this volume address its significance for the developing world. The book is a major contribution to an area of debate still in its formative phase. The book challenges the orthodoxies of development, especially concerning the role of markets. It includes articles from Robert Bates, John Toye and Nobel Laureate Douglass North.

'Well worth reading and very relevant for the study of development.' - Development and Change