Industrialization
About ITSR Lab
Industrial Technology and Society Research (ITSR) Lab is a Think-tank that carries out research on industrialization in the developing world with the intent of informing government policy and nurturing evidence-based societal discussions on issues pertaining to economic growth.
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Institutions…What are they?…Why are they important?
I had hinted in previous posts about the need to do a series on institutions and the critical role they play in development. This is the first of such posts and perhaps there is no better place to start than to ask what are institutions anyway?
An institution is a humanly devised structure of rules and norms that shape and constrain individual behavior `{`1`}`. Institutions are building blocks of social order: they represent socially sanctioned, that is, collectively enforced expectations with respect to the behavior of specific categories of actors or to the performance of certain activities `{`2`}`.
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