The Reasons Of East Asian Economic Miracle
2 Pages
798 Words
Institutions Douglass North (1990) explained that institutions are a set of rules or norms in a society which are there to shape human interaction. Institutions form the incentive structure of a society (North 1994). Rodrik (1997) finds evidence on the significance of institutions to the economic success of the HPAE’s. They had a strong authoritarian government and secure property rights...