Economic Welfare, International Business and Global Institutional Change

Global economic progress in the 20th century, while generally encouraging, was neither continuous nor uniform. With the exception of some Asian nations, countries that were more developed at the beginning of the 20th century still rank amongst the wealthiest nations, while countries that were poorer, still lag behind. The distinguished authors in this volume address the fundamental causes for such heterogeneous international experiences, placing particular emphasis on the role of institutions.