The New Comparative Political Economy

With the collapse of communism in the late 1980s the field of comparative political economy has undergone major revision. Socialism is no longer considered the viable alternative to capitalism it once was. We now recognize that the choice is between alternative institutional arrangements of capitali...

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Bibliographic Details
Published in:The Review of Austrian economics 2005-12, Vol.18 (3-4), p.281-304
Main Authors: Boettke, Peter J., Coyne, Christopher J., Leeson, Peter T., Sautet, Frederic
Format: Article
Language:English
Subjects:
19th century
Business cycles
Capitalism
Comparative studies
Culture
Economic development
Economic growth
Economic policy
Economic theory
Economics
Failure
Foreign aid
Political economy
Political systems
Politics
Public policy
Socialism
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Summary:With the collapse of communism in the late 1980s the field of comparative political economy has undergone major revision. Socialism is no longer considered the viable alternative to capitalism it once was. We now recognize that the choice is between alternative institutional arrangements of capitalism. Progress in the field of comparative political economy is achieved by examining how different legal, political and social institutions shape economic behavior and impact economic performance. In this paper we survey the new learning in comparative political economy and suggest how this learning should redirect our attention in economic development. [PUBLICATION ABSTRACT]
ISSN:0889-3047
1573-7128
DOI:10.1007/s11138-005-3113-0