Indian Journal of Industrial Relations: Economics & Social Dev.

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Governance Institutions & India’s Development


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1 Department of Economics, Princeton University NJ 08544, India
     

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By economic governance is meant the structure and functioning of those legal and social institutions that are essential for economic activity and economic transactions to flourish. They consist of protection of property rights, enforcement of contracts, and a variety of collective actions for provision of infrastructure and include not just the physical infrastructure of transport, communication etc. but also the organizational infrastructure by which property rights and contracts are managed. Collective action is taken by the government for provision of public goods. But collective action for economic governance is also taken via many other organizations or institutions, such as NGO's, community organizations of various kinds, and informal institutions of social networks and social norms, argues the paper.
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  • Avinash Dixit (2003a), “Trade Expansion and Contract Enforcement,” Journal of Political Economy, 111: 1293-1317.

  • Avinash Dixit (2003b), “On Modes of Economic Governance,” Econometrica, 71: 449-481.

  • Avinash Dixit (2004), Lawlessness and Economics: Alternative Modes of Governance, Princeton University Press.

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  • Tom Vanderbilt (2008), Traffic: Why We Drive the Way We Do, and What it Says About Us, New York: Knopf,

  • Websites (http://www.youtube.com/ watch?v=H2JFL1Sk21Y).

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  • Governance Institutions & India’s Development

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Authors

Avinash Dixit
Department of Economics, Princeton University NJ 08544, India

Abstract


By economic governance is meant the structure and functioning of those legal and social institutions that are essential for economic activity and economic transactions to flourish. They consist of protection of property rights, enforcement of contracts, and a variety of collective actions for provision of infrastructure and include not just the physical infrastructure of transport, communication etc. but also the organizational infrastructure by which property rights and contracts are managed. Collective action is taken by the government for provision of public goods. But collective action for economic governance is also taken via many other organizations or institutions, such as NGO's, community organizations of various kinds, and informal institutions of social networks and social norms, argues the paper.

References