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ECONOMICS (IE)
(RG6 Module 4 / WPG7 Module
5)
Dr. C S DESHPANDE
Role of Institutions in
Performance of Economies
Introduction
IE deals with role of Evolutionary Process of
Institutions in shaping Economic Behaviour
Performance of Economy over time critically
dependent on History of Institutions therein
Institutions create order and reduce
Uncertainty in Transaction and Exchange
Dictatorship
Autocracy
Economic
Institutions(EI)
Property Rights(PR)
Contract
Arrangements
Entry Barriers
Regulatory Structures
Quality of Institutions
Quality and Stability of Institutions crucial
to the behavior of Economic Performance
Quality of Institutions to ensure
fundamental / enduring change in PIs and
EIs, not just replacement of one elite /
ruling Group by another
( Example of South Korea vs. North Korea
in making Choice of Institutions)