The main purpose of this book is to show the usefulness of the theory of the new institutional economics to study the problem of economic development of developing countries and at the same time to enrich the field of development economics. The book consists of three parts: one theoretical and two empirical. In the theoretical part, the theory of institutional change is presented based mainly on the works of Douglass C. North, although in many aspects it is complemented by the work of the Avner Greif and other institutional economists. The empirical part presents economic and political reforms carried out in four Asian countries: the People's Republic of China, Vietnam, South Korea and Taiwan. Theories of new institutional economists confronted with the experiences of four Asian countries, provide interesting material from the point of view of both disputes about goals and means of system transformation, as well as constant debate between supporters of market and state intervention.

This book is included in DOAB.