Tag Archives: new institutional economics

Refresher: why institutions matter for economic development

Prompted by some work for a client I dived back into the literature on institutions this week. It was a fascinating journey and I have discovered some other the things I have known before and confirmed many of my suspicions with the project at hand. Indeed, the reading confirmed my view that most market systems development projects pay too little attention to the institutions in a country, given their massive importance in shaping economic development. There is too much focus on finding solutions to fixing problems in the short term.

What I found fascinating while reading is that the insights from the theories on institutions and on complex systems actually overlap really neatly, with maybe slightly different ways of approaching change but in a coherent and complementary way.

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Systemic change? Be entrepreneurial!

I was catching up with some reading over Christmas and read an interesting article on systems change in the RSA Journal [1]. In the article’s lead, the author states that “To tackle the challenges faced by our public services, we need to learn to think like a system and act like an entrepreneur.” I found this thought quite intriguing and not only true for tackling challenges of public services, but also challenges in development. Continue reading

The next step in systemic change

Over the course of 2016, Shawn and I worked on a piece of research on systemic change in market systems development, funded by the BEAM Exchange. In this work, we question the utility of the concept of systemic change in market systems development (though this is valid in the wider field of economic development) as it is currently used and suggest a rethink. To do so, we went back to search for a fundamental understanding of economic change. This is what we found.

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