This wide-ranging volume demonstrates that there is no simple formula for successful institutional development. Through numerous examples, the book makes clear that development can only be achieved through deliberate imitation of successful foreign institutions combined with local innovations. The contributors discuss not only theoretical issues but a diverse range of real-life institutions—political, bureaucratic, fiscal, financial, corporate, legal, social, and industrial. The case studies span dozens of countries, from past examples in Britain, Switzerland, and the United States to present-day institutional development in Botswana, Brazil, and China. Institutional Change and Economic Development will be of interest to academics concerned with the economics of the developing world and policymakers and professionals working within the development sector.