With the aim of providing a comprehensive analysis of institutions, and of the global economy more generally, this volume explores systems of institutions and the effect of corruption, developments in behavioural economics, the impact of immigration, and the links between democratic progress and economic growth. With the end of the Cold War at the end of the twentieth century, the post-socialist transition in Central and Eastern Europe, China and Vietnam, the impressive growth of India, and the rapid spread of globalization, today's world is vastly different from that of two or three decades ago. Many of these changes are closely related to the concerns of economics and, in particular, institutional economics, which has been brought to the forefront due to the analysis of institutions in transition economies, and the realisation of how large a part they play in a successful market economy. With the aim of providing a comprehensive analysis of institutions, and of the global economy more generally, this volume explores systems of institutions, the interactions between institutions, and the effect that corruption can have on them. There is also an examination of the impact of immigration, a look at developments in behavioural economics, and an exploration of the links between democratic progress and economic growth. This volume brings together a wide range of scholars from around the world and provides a comprehensive overview of recent trends in economics, as well as explaining how economics plays a crucial part in understanding and analysing important changes taking place internationally. With a variety of contributions focusing on institutions, development and corruption, this volume is essential reading for all those interested in examining the part which economic institutions play in transition, and for those wanting to place the modern world in a wider economic context Front Matter....Pages i-xxiv Front Matter....Pages 1-1 Electoral Rules and Constitutional Structures as Constraints on Corruption....Pages 3-23 State Capture: From Yeltsin to Putin....Pages 24-36 Democracy for Better Governance and Higher Economic Growth in the MENA Region?....Pages 37-67 Front Matter....Pages 69-69 Distance to the Efficiency Frontier and Foreign Direct Investment and Spillovers....Pages 71-81 A Portrait of the Chinese Entrepreneur....Pages 82-99 A Gain with a Drain? Evidence from Rural Mexico on the New Economics of the Brain Drain....Pages 100-119 The Brain Drain, ‘Educated Unemployment’, Human Capital Formation, and Economic Betterment....Pages 120-151 An Optimal Selective Migration Policy in the Absence of Symmetric Information, and in the Presence of Skill Formation Incentives....Pages 152-168 International Migration, Human Capital Formation, and the Setting of Migration-Control Policies: Mapping the Gains....Pages 169-186 Front Matter....Pages 187-187 Redesigning Public Utilities: the Key Role of Micro-institutions....Pages 189-202 Does Regulation and Institutional Design Matter for Infrastructure Sector Performance?....Pages 203-234 Institutional Evolution and Energy Reform in the UK....Pages 235-252 Back Matter....Pages 253-265
