"With the end of the Cold War at the end of the twentieth century, the post-socialist transition in Central and Eastern Europe, China and Vietnam, the impressive growth of India, and the rapid spread of globalization, today's world is vastly different from that of two or three decades ago. Many of these changes are closely related to the concerns of economics and, in particular, institutional economics, which has been brought to the forefront due to the analysis of institutions in transition economies, and the realisation of how large a part they play in a successful market economy. With the…
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