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World Development Report 2002

Building Institutions for Markets

Morning Market: Kota Bahru, Kelantan

Market reforms have had a mixed record at promoting growth, increasing productivity and alleviating poverty in developing countries across the world: from considerable success in some parts of East Asia, Latin America and Central Europe to disappointment in parts of Africa and the former Soviet Union. This has led policymakers to ask: Could market reforms do more to improve living standards if greater attention were devoted to developing institutions to support markets? What are the institutions which make markets effective in delivering inclusive growth and how do countries get these institutions?

The World Development Report 2002 will be the 24th in the series. Entitled "Building Institutions for Markets," it will discuss how it is that only countries with efficient and inclusive markets have seen significant income growth and poverty reduction. A key factor in developing such markets is market-enhancing institutions, which perform three essential functions: reduce information asymmetries; reduce the costs of dispute resolution/contract enforcement and to enhance competition in markets.

As in previous editions, the World Development Report 2002 will include Selected World Development Indicators, an essential reference on recent trends in development. 

Full Report

The Report is available in PDF Format (To Read You Will Need the Free Adobe Reader)

Source: World Bank


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