This insight informs this important, up-to-date and authoritative survey of new trends in growth economics and the widely divergent economic performance of developing countries - for example, between Latin America and South-east Asia - which seemed to be similarly placed just a generation ago.

The International Economic Association - Acknowledgements - List of Contributors and Participants - Abbreviations and Acronyms - Preface - Introduction; S.Borner - PART 1: THE STATE AND DEVELOPMENT - Institutions as Investments; R.H.Bates - Some Lessons on the Efficiency of Democracy from a Study of Dictatorship; R.Wintrobe - The Economics of Autocracy and Majority Rule: the Invisible Hand and the Use of Force; M.Olson & M.McGuire - Causes of Change in Political-Economic Regimes; P.Bernholz - PART 2: VOLATILITY, UNCERTAINTY, INSTITUTIONAL INSTABILITY AND GROWTH - Macroeconomic Volatility and Economic Development; M.Gavin & R.Hausmann - Political Variables in Growth Regressions; A.Brunetti - Political Stability and Economic Stagnation; P.Keefer & S.Knack - Political Uncertainty, the Formation of New Activities and Growth; J.Aizenman - Does Economic Growth Lead to Political Stability?; M.Paldam - PART 3: RENT SEEKING AND CORRUPTION - Corruption and Rent Seeking; J.M.Mbaku - Corruption and Countervailing Action in Pakistan; M.S.Alam - PART 4: CASE STUDIES: POLICIES, COUNTRIES AND INTERNATIONAL ORGANIZATIONS - Disinflation and Overvaluation; R.Dornbusch - Government Policy, Saving and Growth in Latin America; V.Corbo - Growth and Political Violence in Northern Ireland, 1920-96; V.Borooah - Donor Conditionality and Policy Reform; T.Killick - Institutional Analysis of Technical Cooperation; D.Kattermann - PART 5: CONSTITUTIONAL AND ADMINISTRATIVE REFORM - Developing Democracy in Developing Countries; B.Frey - Ethnic Rent Seeking, Stability and Institutional Reform in Sub-Sahara Africa; M.S.Kimenyi - Healing Sick Institutions ; R.Klitgaard - PART 6: COMMENTS; B.Weder, G.P.Pfeffermann & G.Shepherd