12.5.12

How is institutional economics doing? Very well



The graph is from the new paper "Institutions, Economics and the Development Quest" by Leite, Silva, and Afonso. 
The abstract:
Institutions, crucial for the analysis of how agents deal with uncertainty, have been gaining increasing relevance on the Economic research agenda. In this paper, we analyze the institutional literature that provides insights into different research fields, aiming to explain why this perspective obtains better results than others, in the field of growth and Development Economics. In particular, we stress the relevance of New Institutional Economics as an adequate framework for a broad understanding of development issues.

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