Towards a Taxonomy of Institutions

There is growing acknowledgement that institutions play an important and significant role in economic development as well as deeper understanding of the nature of institutions. In addition institutions have been more widely studied, better defined and their impact better understood. Yet despite this progress, an authoritative taxonomy of institutions is still lacking. For those seeking to understand how and why institutions matter, the increased definition raises the need for taxonomy of institutions. Institutions relevance, scope and priority in economic understanding cannot be advanced without establishing such taxonomy. This paper identifies some specific problems raised by the overall lack of a taxonomy of institutions and suggests how these issues may be addressed to enable progress to be made towards a taxonomy of institutions.

Kasozi, A. (2004) Towards a Taxonomy of Institutions, EAEPE Conference, Crete, October.

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