Institutions and Collective Choice Developing Countries

This text contains a mixture of analytical ideas and views on collective choice and macroeconomic performance in developing countries. It aims to present a comprehensive application of the theory of public choice to collective decision-making in developing societies. It offers both students of Third World studies and policy-makers in developing societies an in-depth analysis of institutions for collective choice. For countries undergoing major reform of their political and economic institutions, public choice theory can provide significant and useful insights, and help these societies design and adopt institutional arrangements that enhance peaceful coexistance of groups, the creation of wealth and sustainable development. Specifically, the book shows that: the application of economic theory to the study of public policy in developing countries can provide important insights into collective decision-making; the application of public choice theory to the study of developing societies can significantly improve the efficiency of bureaucratic and governmental systems, and consequently, promote economic, political and social development; and that public choice can help developing societies design and sustain effective laws and institutions for peaceful coexistance of groups and sustainable development.