Markets governance and institutions in the process of economic development edited by ajit mishra and tridip ray covers both conceptual and policy issues in economic development chapters authored by leading scholars offering original and fresh perspectives on the complex interactions between markets governance structures and institutions. The contributions from authors in this volume theoretical as well as empirical reflect this range of issues in the broader context of interactions between markets governance and institutions in the process of economic development the broader roles of markets as key resource allocation mechanisms cannot be disputed. Written in honour of kaushik basu markets governance and institutions in the process of economic development is a celebration of over forty years of contributions to development economics written by professor basus past and present collaborators and research students it offers original insights and perspectives on issues relating to well being freedom and institutions in the . Investors including ifc and other development finance institutions increasingly look at governance as an indicator of firm quality and a factor in investment selection there is a strong business case for linking sound corporate governance practices to better firm performance. Economic institutions of the market but also political legal and cultural institutions including customs and traditions property rights the political system the judiciary and the governance of these institutions economists often refer to the transition economies of the former soviet union and central and eastern europe
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