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The Review of Austrian Economics

, Volume 18, Issue 3–4, pp 281–304 | Cite as

The New Comparative Political Economy

  • Peter J. Boettke
  • Christopher J. Coyne
  • Peter T. Leeson
  • Frederic Sautet
Article

Abstract

With the collapse of communism in the late 1980s the field of comparative political economy has undergone major revision. Socialism is no longer considered the viable alternative to capitalism it once was. We now recognize that the choice is between alternative institutional arrangements of capitalism. Progress in the field of comparative political economy is achieved by examining how different legal, political and social institutions shape economic behavior and impact economic performance. In this paper we survey the new learning in comparative political economy and suggest how this learning should redirect our attention in economic development.

Keywords

comparative economics culture economic development institutions 

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Copyright information

© Springer Science + Business Media, Inc. 2005

Authors and Affiliations

  • Peter J. Boettke
    • 1
  • Christopher J. Coyne
    • 2
  • Peter T. Leeson
    • 3
  • Frederic Sautet
    • 4
  1. 1.Department of Economics, MSN 3G4George Mason UniversityFairfax
  2. 2.Department of EconomicsHampden-Sydney CollegeHampden-Sydney
  3. 3.Department of EconomicsWest Virginia UniversityMorgantown
  4. 4.Social Change ProjectMercatus CenterArlington

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