The Impact of Formal and Informal Institutions on Economic Gr... - 9783631616161

The Impact of Formal and Informal Institutions on Economic GrowthA Case Study on the MENA Region\nAuthor(s): Harald Hagemann, Constanze Dobler\nFormat: Hardback\nPublisher: Peter Lang AG, Switzerland\nImprint: Peter Lang AG\nISBN-13: 9783631616161, 978-3631616161\nSynopsis\nRegarding the Arab region, GDP per capita virtually stagnated for more than 20 years from 1980. During the same period, GDP per capita in the worlds highly industrialized states further increased and the gap between the Middle East and North Africa (MENA) and the highly developed countries widened. However, the differences between Arab countries and the Western states exist not only economically. The countries also differ regarding their political, legal, and social systems. This work explains the differences in development on the basis of institutional economics. In addition to a general theoretical part, an empirical analysis demonstrates the effects of institutions on income, and a historical case study explain.