Incentives, Institutions and Development Assistance

by Michael Kremer, Clemens Lecture Series 15, 2003


The development community now appreciates the importance of institutions and the incentives they create. Indeed, the most recent World Development Report opens with the following quote from Douglass North: "We must create incentives for people to invest in more efficient technology, increase their skills and organize efficient markers. Such incentives are embodied in institutions."

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