How Long to Read Institutions, Institutional Change, and Economic Performance

How Long Does it Take to Read Institutions, Institutional Change, and Economic Performance?

It takes the average reader 2 hours and 33 minutes to read Institutions, Institutional Change, and Economic Performance by Douglass Cecil North

Assuming a reading speed of 250 words per minute. Learn more

Description

"Continuing his groundbreaking analysis of economic structures, Douglass North develops an analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies, both at a given time and over time. Institutions exist, he argues, due to the uncertainties involved in human interaction; they are the constraints devised to structure that interaction. Yet, institutions vary widely in their consequences for economic performance; some economies develop institutions that produce growth and development, while others develop institutions that produce stagnation. North first explores the nature of institutions and explains the role of transaction and production costs in their development. The second part of the book deals with institutional change. Institutions create the incentive structure in an economy, and organisations will be created to take advantage of the opportunities provided within a given institutional framework. North argues that the kinds of skills and knowledge fostered by the structure of an economy will shape the direction of change and gradually alter the institutional framework. He then explains how institutional development may lead to a path-dependent pattern of development. In the final part of the book, North explains the implications of this analysis for economic theory and economic history. He indicates how institutional analysis must be incorporated into neo-classical theory and explores the potential for the construction of a dynamic theory of long-term economic change"--Provided by publisher.

How long is Institutions, Institutional Change, and Economic Performance?

Institutions, Institutional Change, and Economic Performance by Douglass Cecil North is 152 pages long, and a total of 38,304 words.

This makes it 51% the length of the average book. It also has 47% more words than the average book.

How Long Does it Take to Read Institutions, Institutional Change, and Economic Performance Aloud?

The average oral reading speed is 183 words per minute. This means it takes 3 hours and 29 minutes to read Institutions, Institutional Change, and Economic Performance aloud.

What Reading Level is Institutions, Institutional Change, and Economic Performance?

Institutions, Institutional Change, and Economic Performance is suitable for students ages 10 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Institutions, Institutional Change, and Economic Performance?

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