Institutions and economic development: theory, policy and history

Date: 13 December 2013

Venue: University of Antwerp, Stadscampus, Annexzaal - Lange Winkelstraat 13 - 2000 Antwerp

Time: 10:00 AM - 12:00 PM

Organization / co-organization: UCSIA in cooperation with IOB

Short description: Doctoral Seminar by Prof. Ha-Joon Chang

Institutions and economic development: theory, policy and history

The University Centre Saint-Ignatius Antwerp invites the Korean -British de Koreaans-Britse Ha-Joon Chang to hold the UCSIA-Teaching Chair at the University of Antwerp in 2013.

Prof. Ha-Joon CHANG presents the paper 'Institutions and economic development: theory, policy and history'. The paper appeared in the Journal of Institutional Economics (2011), 7: 4, 473–498.
Professors and (post-)doctoral researchers are invited to give their comments and discuss the paper with its author.

The article tries to advance our understanding of institutional economics by critically examining the currently dominant discourse on institutions and economic development.
First, the author argues that the discourse suffers from a number of theoretical problems – its neglect of the causality running from development to institutions, its inability to see the impossibility of a free market, and its belief that the freest market and the strongest protection of private property rights are best for economic development.
Second, the author points out that the supposed evidence showing the superiority of ‘liberalized’ institutions relies too much on cross-section econometric studies, which suffer from defective concepts, flawed measurements and heterogeneous samples.
Finally, he argues that the currently dominant discourse on institutions and development has a poor understanding of changes in institutions themselves, which often makes it take unduly optimistic or pessimistic positions about the feasibility of institutional reform.

Download the paper Institutions and economic development: theory, policy and history (Pdf)

Seminar moderator: Prof. Tom De Herdt, Chair of the Institute of Development Policy and Management (University of Antwerp)

Prof.  Ha-Joon Chang
Prof. Ha-Joon Chang makes a scholarly and a broad audience critically reflect on established views on the economy and economic policy. He became known in Belgium for his book Things They Didn't Tell You about Capitalism. Chang was born and grew up in Korea during the sixties, which gave him a good eye for the role a government can play in a market economy with companies such as LG. In 1992, he received his doctor's degree from teh University of Cambridge where he teaches political economy. Ha-Joon Chang researches economic growth and industrial development.  He was a counselor of United Nations - organizations including UNDESA, UNDP, ILO en UNCTAD and of multilateral organizations such as the World Bank, The Asian Development bank and the European Investment Bank. He was also a consultant to multinational companies and NGO's among others ActionAid, Christian Aid en Oxfam International. <br>Ha-Joon Chang's research was rewarded with prizes including the Gunnar Myrdal Prize, the Wassily Leontief Prize for Advancing the Frontiers of Economic Thought and the Pony Chung Innovation Prize.

Entrance fee: Free

Registration: Free but compulsary:*UCSIA2&n=87971

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