Governing the Formal Economy: The Convergence of Theory and Divergence of Practice

Tony Heron

doi:10.1057/978-1-137-42724-3_10

Governing the Formal Economy: The Convergence of Theory and Divergence of Practice

Tony Heron

Politics

Research output: Chapter in Book/Report/Conference proceeding › Chapter

Abstract

In this chapter, I ask what contemporary development studies tell us about state-market relations. I argue that, although the 1980s and 1990s were synonymous with neoliberalism and the supposed retreat of the state, this was the period when institutional analysis - not least, of the state itself - began to make its mark on development studies. I suggest that institutionalism is now providing the basis for a convergence of sorts between orthodox and heterodox theories, with respect to issues such as the origins of private property rights, norms of democratic transparency and accountability, the importance of bureaucratic autonomy, elite consensus and state capacity. From this perspective, I argue, the rise of the ‘BRICs’ signifies the superiority of neither state- nor market-oriented development; rather, it is the idiosyncratic institutional characteristics of individual nation-states that ultimately accounts for variation in outcomes between those that achieve development success and those that do not.

Original language	English
Title of host publication	Palgrave Handbook of International Development
Editors	Jean Grugel, Daniel Hammett
Place of Publication	London
Publisher	Palgrave Macmillan
Number of pages	12
ISBN (Print)	978-1-137-42724-3
DOIs	https://doi.org/10.1057/978-1-137-42724-3_10
Publication status	Accepted/In press - 2015

Access to Document

10.1057/978-1-137-42724-3_10

Palgrave Development Handbook -HERON
© The Author. This is an author-produced version of the published paper. Uploaded in accordance with the publisher’s self-archiving policy. Further copying may not be permitted; contact the publisher for details. Embargo period: 36 months.
Submitted manuscript, 202 KB

Cite this

@inbook{fb1cdabcddfe43e5ab948a406a36d525,

title = "Governing the Formal Economy: The Convergence of Theory and Divergence of Practice",

abstract = "In this chapter, I ask what contemporary development studies tell us about state-market relations. I argue that, although the 1980s and 1990s were synonymous with neoliberalism and the supposed retreat of the state, this was the period when institutional analysis - not least, of the state itself - began to make its mark on development studies. I suggest that institutionalism is now providing the basis for a convergence of sorts between orthodox and heterodox theories, with respect to issues such as the origins of private property rights, norms of democratic transparency and accountability, the importance of bureaucratic autonomy, elite consensus and state capacity. From this perspective, I argue, the rise of the {\textquoteleft}BRICs{\textquoteright} signifies the superiority of neither state- nor market-oriented development; rather, it is the idiosyncratic institutional characteristics of individual nation-states that ultimately accounts for variation in outcomes between those that achieve development success and those that do not. ",

author = "Tony Heron",

year = "2015",

doi = "10.1057/978-1-137-42724-3_10",

language = "English",

isbn = "978-1-137-42724-3",

editor = "Jean Grugel and Daniel Hammett",

booktitle = "Palgrave Handbook of International Development",

publisher = "Palgrave Macmillan",

address = "United Kingdom",

}

TY - CHAP

T1 - Governing the Formal Economy

T2 - The Convergence of Theory and Divergence of Practice

AU - Heron, Tony

PY - 2015

Y1 - 2015

N2 - In this chapter, I ask what contemporary development studies tell us about state-market relations. I argue that, although the 1980s and 1990s were synonymous with neoliberalism and the supposed retreat of the state, this was the period when institutional analysis - not least, of the state itself - began to make its mark on development studies. I suggest that institutionalism is now providing the basis for a convergence of sorts between orthodox and heterodox theories, with respect to issues such as the origins of private property rights, norms of democratic transparency and accountability, the importance of bureaucratic autonomy, elite consensus and state capacity. From this perspective, I argue, the rise of the ‘BRICs’ signifies the superiority of neither state- nor market-oriented development; rather, it is the idiosyncratic institutional characteristics of individual nation-states that ultimately accounts for variation in outcomes between those that achieve development success and those that do not.

AB - In this chapter, I ask what contemporary development studies tell us about state-market relations. I argue that, although the 1980s and 1990s were synonymous with neoliberalism and the supposed retreat of the state, this was the period when institutional analysis - not least, of the state itself - began to make its mark on development studies. I suggest that institutionalism is now providing the basis for a convergence of sorts between orthodox and heterodox theories, with respect to issues such as the origins of private property rights, norms of democratic transparency and accountability, the importance of bureaucratic autonomy, elite consensus and state capacity. From this perspective, I argue, the rise of the ‘BRICs’ signifies the superiority of neither state- nor market-oriented development; rather, it is the idiosyncratic institutional characteristics of individual nation-states that ultimately accounts for variation in outcomes between those that achieve development success and those that do not.

U2 - 10.1057/978-1-137-42724-3_10

DO - 10.1057/978-1-137-42724-3_10

M3 - Chapter

SN - 978-1-137-42724-3

BT - Palgrave Handbook of International Development

A2 - Grugel, Jean

A2 - Hammett, Daniel

PB - Palgrave Macmillan

CY - London

ER -