TY  - GEN
AU  - North, Douglass C.
TI  - Understanding the process of economic change
SN  - 9780691145952
U1  - 330.1 
PY  - 2005///
CY  - New Delhi
PB  - Academic Foundation, 
KW  - Economics--Sociological aspects
KW  - Evolutionary economics
KW  - nstitutional economics
N1  - Include Bibliography and Index
N2  - "In this landmark work, a Nobel-prize-winning economist develops a new way of understanding the process by which economies change. Douglass North inspired a revolution in economic history a generation ago by demonstrating that economic performance is determined largely by the kind and quality of institutions that support markets. As he showed in two now classic books that inspired the New Institutional Economics (today a subfield of economics), property rights and transaction costs are fundamental determinants. Here, North explains how different societies arrive at the institutional infrastructure that greatly determines their economic trajectories." "Understanding the Process of Economic Change accounts not only for past institutional change but also for the diverse performance of present-day economies. This major work is therefore also an essential guide to improving the performance of developing countries."--BOOK JACKET
ER  -