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Publication Type
Conference Proceedings
UWI Author(s)
Author, Analytic
Jones,Edwin; Cruickshank Ivan; Schoburgh Eris
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Author Affiliation
Department of Government
Paper/Section Title
Do institutions matter? A view from the works of W. Arthur Lewis
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Proceedings Title
SALISES 6th Annual Conference
Date of Meeting
March 16-18
Place of Meeting
Kingston, Jamaica
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Date of Publication
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Location/URL
http:; www.cavehill.uwi.edu/salises/conferences/conf_2005.htm
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Abstract
Contemporary political economic discourse suggests that institutions matter in development. The view though is largely driven by a neo-institutional literature which draws on mainstream economic ideas as its starting point. Taking works of Lewis as its point of departure, this paper suggests that, Lewis’ works and ideas were significantly influenced by an understanding of the need to relate to the process of growth and development to the institutional structures and understanding of the need to relate the process of growth and development to the institutional structures and arena within which such growth was to be facilitated. Given his focus on issues such as law, labour supply and patterns, loyalty, colonization and its effects, land settlement, education, social peace and racial conflict. This paper argues that the role of institutions (broadly defined) was a significant factor in Lewis’ analysis of the economies of the Caribbean and Latin America. The authors are concerned with Lewis’ contribution on how the institutional variables and the institutions of the state ought to be configured to achieve economic growth and development. His recognition of both the limitations of the neo-classical model of economic growth, his ideas on public policy and its considerations; and the significance of historical and political factors in economic growth are reviewed. An understanding of his context, his works as well as his role in Caribbean development and his lifelong commitment to reengineering the institutions within his native region implies an appreciation of the role of institutions in the growth and development process.....
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