Economic analysis of institutions : a practical guide / V. Santhakumar.

Includes bibliographical references and index.

Introduction -- Why institutional economics -- What is "wrong" with self-financing colleges? -- Should city governments administer public water supply? -- How best to manage forests and wild life? : will it be harmful for Indian tigers if the Chinese eat their tigers? -- What institutions would best support agricultural research? -- Institutions to regulate emigration and immigration -- Why do regulators fail in electricity sector in many developing countries? -- How to address conflicts in fisheries in the developing world? -- Do citizens' actions compensate for the weak enforcement of laws by the state?

Economic Analysis of Institutions provides a case studies-based tool kit to help readers analyze institutional changes, reforms, and efforts to improve governance in the nation. The author applies the concepts of new institutional economics to a number of real-world problems and public policy issues relevant for developing economies. Divided into two parts, the book provides a succinct summary of the relevant theoretical insights of new institutional economics in the first, and application of these insights to eight specific issues in the second. These issues cover a wide range of areas including environment and natural resources, higher education, international migration, agricultural research, reforming the institutional framework for provision of electricity and water, and so on. In this book, the author also highlights the existence of a strong positive correlation between the quality and performance of institutions on the one hand and development outcomes on the other. As a basis for successful institutions, the author advocates rational policies through social consensus in a democratic process.