Institutional Economics and National Competitiveness by Young Back ChoiInstitutional Economics and National Competitiveness by Young Back Choi

Institutional Economics and National Competitiveness

EditorYoung Back Choi

Hardcover | December 9, 2011

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This book offers a strong contribution to the growing field of institutional economics, going beyond the question of why institutions matter and examines the ways in which different types of institutions are conducive to the enhancement of competitiveness and economic development. Adopting a variety of approaches, ranging from New Institutional Economics, Public Choice, Constitutional Political Economy and Austrian Economics, to more traditional economic approaches, contributors examine the important issues of interest to development economics.

This book asks whether democracy is a pre-condition for economic development, what the proper role of government is in the age of globalization and whether successful government led policies were the cause of South Korea's economic development. As well as these key questions, the book covers the issues of whether the government should rely on the market process to encourage economic development or must they interfere, and by what criteria one can judge a proposal for policies for economic prosperity. The book tries to make a contribution by introducing a variety of perspective, some argue in favour of industrial policies while others argue for a lesser role for the government and a greater entrepreneurial freedom. Some question the wisdom of promoting democracy as a necessary condition for economic development while others argue that political liberalization is the basis of lasting competitive edge of an economy.

The book should be of great interest to students and researchers in need of a multi-perspective collection covering several approaches to the issues of institutional economics and national competition.

Young Back Choiis Professor of Economics at St. John's University, New York, USA, and a faculty associate of the Colloquium on Market Institutions and Economic Processes at New York University, USA.
Title:Institutional Economics and National CompetitivenessFormat:HardcoverDimensions:264 pages, 9.21 × 6.14 × 0.98 inPublished:December 9, 2011Publisher:Taylor and FrancisLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:041560026X

ISBN - 13:9780415600262


Table of Contents

ForewordJames M. Buchanan. Why Institutions Matter? [Reprint of a letter to the KIEA]Oliver Williamson. AcknowledgmentSung-Hee Jwa. PrefaceYoung Back Choi 1. Democracy and ProsperityRandall Holcombe  2. Competition among Governments: The State's Two Roles in a Globalized WorldViktor Vanberg 3. Rent-Extraction, Liberal Reform, and Economic Development: Liberal Institutions as "Permanent" Sources of Competitive AdvantageRoger Congleton 4. Institutions for Economic ProsperityYoung Back Choi 5. Science, Scientific Institutions, and Economic ProgressYong Joon Yoon  6. University and Industry Linkages: The Case of KoreaJoon Mo Yang  7. Institutions and Industrial Policy: The Case of Heavy-Chemical Industries in Korea 1973-79Sung Sup Rhee 8. Myth about Korea's Rapid GrowthJung Ho Yoo  9. The New Institutional Economy and the New Traditional Economy in Korea: Does the Confucian Tradition Give It a Competitive Edge?Barkely Rosser, jr.andMarina V. Rosser 10. The Effect of Fiscal Drag on Tax Revenue and Tax BurdenSung-Kyu Lee  11. Alternative Visions of Incomplete Property RightsMiah DulalandYasushi Suzuki  12. Economic Development and InstitutionsSeung Hee JwaandYong Yoon