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Books > History > History of specific subjects > Economic history
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Institutional Design (Paperback, Softcover reprint of the original 1st ed. 1995)
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Institutional Design (Paperback, Softcover reprint of the original 1st ed. 1995)
Series: Recent Economic Thought, 43
Expected to ship within 10 - 15 working days
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Policy scientists have long been concerned with understanding the
basic tools, or instruments, that governments can use to accomplish
their goals. The initial interest in inductively developing
comprehensive lists of generic instruments for policy analysis soon
gave way to efforts to discover more parsimonious, but still
useful, specifications of the elementary components out of which
instruments can be assembled. Moving from a generic instrument to a
fully specified policy alternative, however, requires the designer
to go much beyond the elementary components. Rather than directly
specifying some of these details, the designer may instead set the
rules by which they will be specified. The creation of these
specifications and rules can be thought of as institutional design.
This book helps scholars and policy analysts formulate more
effective policy alternatives by a better understanding of
institutional design. The feasibility and effectiveness of policies
depend on the political, economic, and social contexts in which
they are embedded. These contexts provide an environment of
existing institutions that offer opportunities and barriers to
institutional design. A fundamental understanding of institutional
design requires theories of institutions and institutional change.
With a resurgence of interest in institutions in recent years,
there are many possible sources of theory. The contributors to this
volume draw from the variety of sources to identify implications
for understanding institutional design.
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