Download or read book Informal Institutions, Social Capital and Economic Transition written by Martin Raiser and published by . This book was released on 1997 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few issues in economics have experienced such a grandiose revival as the role of institutions in economic development. the success of the overall reform effort depends to a considerable extent on the existence of adequate institutions ... ʺ. One might go further and state that what transition is all about is a redesign of the institutional framework of formerly centrally planned economies. A transition theory therefore will necessarily be a theory of institutional change. This paper focuses on one particular subset of institutional change, namely the role of informal institutions in economic transition.