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An adviser on democracy and governance to the US Agency for Industrial Development in South Sudan, Chakravarti integrates his insights into the relationship between aid, institution, and governance after 20 years in the development profession, with the academic literature on it. He also proposes measures to restructure the content and management of

The book challenges the conventional wisdom on the determinants of economic performance and provides an alternative vision of the functioning of an economic system. The author provides a structured survey which critically evaluates the theory and evidence of neoclassical approaches to growth and development. He then skillfully integrates insights from the old and new institutional economics into an original and comprehensive vision of the relationship between institutions, growth and economic development.