Institutions and Growth: A Social Perspective

Abstract

The current study aims at analyzing the good governance focal argument through a developmental prism. It also provides a comprehensive analysis of the institutional bottlenecks and pathologies that undermine the long-term perspectives of contemporary economies and societies. In practical terms, the analysis implies that implementing universal policy recommendations to all countries regardless of their economic, social and political background proves to be at least unresponsive. Consequently, initiatives taken to promote good governance should correspond to individual sociopolitical traits of countries. Fighting endemic, deeply rooted institutional weaknesses should involve a deliberate policy mix, targeted reforms and structural adjustments aiming at the root causes of governance failure.