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Why isn't the whole world developed? This toolkit for institutional analysis explains how rules affect the performance of countries, firms, and even families.

Why isn't the whole world developed? This toolkit for institutional analysis explains how rules affect the performance of countries, firms, and even families.

This innovative Handbook presents a comprehensive overview of the significance of complexity theory for understanding institutions. Eminent scholars analyse the key tools and concepts of the field, including emergence, networks, ergodicity, and modularity, exploring their contributions to institutional formulation and evolution. Bridging the gap between complexity theory and mainstream economics, this pioneering Handbook reveals novel approaches to understanding institutional processes from the micro to the macro level. Chapters balance theoretical discussions with practical analysis,...