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Institutions matter for economic development. Yet despite this accepted wisdom, new institutional economics (NIE) has yet to provide a comprehensive look at what constitutes the institutional foundation of economic development (IFED). Bringing together findings from a range a fields, from development economics and development studies to political science and sociology, this title explores the precise mechanisms through which institutions affect growth. Shiping Tang contends that institutions shape economic development through four 'Big Things': possibility, incentive, capability, and opportunity. From this perspective, IFED has six major dimensions: political hierarchy, property rights, social mobility, redistribution, innovation protection, and equal opportunity. Tang further argues that IFED is only one pillar within the New Development Triangle (NDT).

Economic development. --- Institutional economics. --- Political stability --- BUSINESS & ECONOMICS / Development / Economic Development. --- Economic aspects. --- Aggregate demand. --- Autocracy. --- Basic education. --- Bond Yield. --- Bureau of Economic Analysis. --- Capital accumulation. --- Capital control. --- Capital market. --- Classical economics. --- Consumer behaviour. --- Consumer spending. --- Consumer. --- Consumption (economics). --- Convergence (economics). --- Cost Of Funds. --- Credit default swap. --- Credit risk. --- Currency. --- Current account. --- Democracy and economic growth. --- Derivative (finance). --- Developed country. --- Development economics. --- Economic equilibrium. --- Economic growth. --- Economic history. --- Economic indicator. --- Economic interventionism. --- Economic liberalization. --- Economic nationalism. --- Economic planning. --- Economic policy. --- Economic power. --- Economic recovery. --- Economic sociology. --- Economic surplus. --- Economics. --- Economy. --- Effectiveness. --- Endogeneity (econometrics). --- Entrepreneurship. --- Evolutionary economics. --- Exchange rate. --- Factor endowment. --- Financial inclusion. --- Financial transaction. --- Fiscal capacity. --- GDP deflator. --- Globalization. --- Historical institutionalism. --- Household. --- Human capital. --- Incentive. --- Inclusive growth. --- Income tax. --- Income. --- Innovation. --- Institution. --- Institutional theory. --- Interest rate parity. --- Interest rate. --- International development. --- International trade. --- Investment fund. --- Investment. --- Investor. --- Journal of Political Economy. --- Knowledge economy. --- Labour economics. --- Market economy. --- Market integration. --- Market liquidity. --- Market power. --- Marketplace of ideas. --- Meritocracy. --- Neoclassical economics. --- Neoliberalism. --- Net Investment Income. --- New institutional economics. --- Output (economics). --- Probability theory. --- Production–possibility frontier. --- Public policy. --- Rate of return. --- Saving. --- Social capital. --- Social evolution. --- Social mobility. --- Social science. --- Socioeconomic development. --- State (polity). --- Supply (economics). --- Theoretical Value. --- Welfare economics. --- World Bank Group. --- World Bank. --- World Trade Organization. --- World Values Survey. --- Destabilization (Political science) --- Political instability --- Stability, Political --- Consensus (Social sciences) --- Legitimacy of governments --- Economics --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Political stability. --- Economic development --- Institutional economics

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Subsidies and cross-subsidies in the energy sector are common throughout Eastern Europe and Central Asia. In Belarus, revenues from an industrial tariff on electricity are used to cross-subsidize heating for households. Input-output (IO) data and a household consumption survey are used to analyze the distributional impacts of this cross-subsidization. This paper illustrates cost shares and electricity-intensity of different sectors and consumption categories and uses the IO data to obtain first-order estimates of the distributional incidence of policy reform. The paper then analyzes distributional impacts of subsidy reform with a Computable General Equilibrium model. Although poorer households benefit from reduced heating costs, the increase in prices of other consumer goods due to higher electricity prices more than offsets the benefits they receive from the subsidies. The analysis finds that the current cross-subsidies are regressive, and policy reform would be highly progressive.

Agriculture --- Approach --- Banking --- Benchmark --- Benchmark data --- Capital --- Capital returns --- Commodities --- Commodity --- Communication --- Competition --- Consumer demand --- Consumer good --- Consumer goods --- Consumer groups --- Consumer prices --- Consumers --- Consumption --- Cost increase --- Cost of electricity --- Cost of funds --- Costs --- Customer --- Customers --- Demand --- Developing economy --- Development policy --- Distribution --- District heating --- Domestic market --- Domestic price --- Economic cooperation --- Economic development --- Economic statistics --- Economic systems --- Economic theory & research --- Economics literature --- Elasticity --- Elasticity of substitution --- Electricity --- Electricity prices --- Emerging markets --- Energy --- Energy price --- Energy prices --- Energy production and transportation --- Equilibrium --- Equilibrium analysis --- Equilibrium price --- Equilibrium prices --- Exchange --- Expenditure --- Expenditures --- Export market --- Exports --- Externalities --- Factors of production --- Foreign exchange --- Fossil --- Fossil fuel --- Fuel --- Fuels --- Functional forms --- General equilibrium analysis --- Goods --- Heat --- Household analysis --- Income --- Income group --- Income groups --- Income levels --- Incomes --- Inputs --- Intermediate goods --- International markets --- Inventory --- Macroeconomics and economic growth --- Marginal cost --- Market --- Markets --- Markets & market access --- Multipliers --- Natural resources --- Oil --- Oil products --- Optimization --- Output --- Outputs --- Payments --- Perfect competition --- Price --- Price change --- Price changes --- Price index --- Price levels --- Prices --- Pricing --- Pricing policy --- Pricing scheme --- Private sector development --- Product --- Production --- Production costs --- Production function --- Production functions --- Production increases --- Production of coke --- Production structure --- Products --- Rate of return --- Real estate --- Rent --- Residential energy --- Revenue --- Savings --- Share --- Shares --- Subsidies --- Subsidization --- Subsidy --- Substitute --- Substitutes --- Substitution --- Supply --- Supply costs --- Tariff --- Tax --- Tax rate --- Tax rates --- Taxes --- Theory --- Total output --- Trade --- Transition economies --- Transport --- Transport economics policy and planning --- Trends --- Utility --- Utility functions --- Value --- Value added --- Variables --- Wealth --- Welfare