The determinants of economic growth and development are hotly debated among economists. Financial crises and failed transition experiments have highlighted the fact that functioning institutions are fundamental to the goal of achieving economic growth. The growth literature has seen an abundance of empirical studies on the influence of institutions and the mechanisms by which institutions affect development. This CESifo volume provides a systematic overview of the current scholarship on the impact of institutions on growth.The contributors, all internationally prominent economists, consider theoretical and empirical relationships between institutions and growth. Concepts covered include "appropriate institutions" (the idea that different institutional arrangements are appropriate at different stages of economic development); liberalized credit markets; the influence of institutions on productivity; institutional and regulatory reforms in the OECD; how innovation and entrepreneurship influence growth (including an analysis of patent activity in the United States from 1790 to 1930); the endogeneity of institutions as seen in the recruitment of elites by higher education institutions; the effect of economic development on transitions to democracy; and technology adoption in agriculture.Contributors:Philippe Aghion, Costas Azariadis, Elise S. Brezis, Matteo Cervellati, François Crouzet, David de la Croix, Theo S. Eicher, Piergiuseppe Fortunato, Cecilia García-Peñalosa, Thorvaldur Gylfason, Murat Iyigun, B. Zorina Khan, Giuseppe Nicoletti, Dani Rodrik, Stefano Scarpetta, Kenneth L. Sokoloff, Uwe Sunde, Utku Teksoz, Gylfi Zoega

SERIES FOREWORDP. VIIPREFACEP. IXINSTITUTIONS AND ECONOMIC PERFORMANCEP. 1ON INSTITUTIONS AND GROWTHP. 3FINANCIAL INSTITUTIONAL REFORM, GROWTH, AND EQUALITYP. 33HOW DO INSTITUTIONS LEAD SOME COUNTRIES TO PRODUCE SO MUCH MORE OUTPUT PER WORKER THAN OTHERS?P. 65REGULATION AND ECONOMIC PERFORMANCE: PRODUCT MARKET REFORMS AND PRODUCTIVITY IN THE OECDP. 81THE IMPACT OF INSTITUTIONS ON INNOVATION AND ENTREPRENEURSHIPP. 121INSTITUTIONS AND TECHNOLOGICAL INNOVATION DURING EARLY ECONOMIC GROWTH: EVIDENCE FROM GREAT INVENTORS IN THE UNITED STATES, 1790-1930P. 123ON THE EFFICACY OF REFORMS: POLICY TINKERING, INSTITUTIONAL CHANGE, AND ENTREPRENEURSHIPP. 159ENDOGENOUS INSTITUTIONSP. 189THE ROLE OF HIGHER EDUCATION INSTITUTIONS: RECRUITMENT OF ELITES AND ECONOMIC GROWTHP. 191GROWTH AND ENDOGENOUS POLITICAL INSTITUTIONSP. 215THE ROAD FROM AGRICULTUREP. 249CONTRIBUTORSP. 281INDEXP. 283TABLE OF CONTENTS PROVIDED BY INGRAM. ALL RIGHTS RESERVED.