OPPENING BORDERS
THE CONVERGENCE OF "LAW AND DEVELOPMENT" AND GLOBAL GOVERNANCE
Keywords:
Development, Globalization, GovernanceAbstract
The last two decades have witnessed the elevation of institutional theories of development to the forefront of mainstream development studies. Exponents of institutional theories recognize that promoting development requires policies to improve physical infrastructure, to enhance financial and human capital, and/or to address geopolitical, geographic, historical and cultural factors. Institutionalists make a compelling case, however, that investing in the improvement of the institutional, or governance framework within developing nations is the most effective way, even a pre-requisite, to promote development. A “good governance” framework, according to institutional theorists, is key to facilitate the achievement of all development objectives, and to address negative disruptions and externalities inherent in the development process.
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