In a work published in 1995 I used the concept of a 'political settlement'to explain why
apparently similar institutions can perform very differently in different countries (Khan 1995) …

The concepts of rents and rent-seeking are central to any discussion of the processes of
economic development. Yet conventional models of rent-seeking are unable to explain how …

The growth of a country can be gaged directly from its growing demand for energy. If the
demand for energy is not met in-time then it would severely hamper growth leading to …

Economic theory has attempted to identify the conditions under which corruption has
particularly harmful effects. This article evaluates these theories and argues that the …

This chapter examines the implications of the new institutional economics (NIE) for
analysing state failure in developing countries. The NIE approach aims to identify the …

For the economist, rents refer to “excess incomes” which, in simplistic models, should not
exist in efficient markets. More precisely, a person gets a rent if he or she earns an income …

The debate between modernization theory and its opponents is over. Neither evidence nor
argument can support the claim that authoritarianism is necessary for economic …

The political settlements framework argues that the distribution of organizational power is
important for understanding the economic and political effects of institutions and policies …

So far in our analysis of rents, we have looked only at the implications of the rents
themselves and not at the implications of the processes through which rents are created or …

Liberal economists have developed a framework of good governance as market-enhancing
governance, focusing on governance capabilities that reduce transaction costs and enable …