Abstract
“Unreal estate” and dysfunctional institutions are no local phenomena. They exist across continents and throughout the developed and developing world. We have made the case that they are not specific to any one nationality or culture but reflect informality and result from inappropriate institutions, policies, and poor or missing incentives.
Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.
— Sun Tzu (BC 535–228) — Chinese military strategist
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Notes
Christopher Jarvis (2000) “The Rise and Fall of Albania’s Pyramid Schemes”, in Finance and Development, Vol. 37(1), Washington: IMF.
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© 2007 Elena Panaritis
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Panaritis, E. (2007). Solving the Puzzle. In: Prosperity Unbound. Palgrave Macmillan, London. https://doi.org/10.1057/9780230596221_6
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DOI: https://doi.org/10.1057/9780230596221_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-54407-3
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