Edited by Ram Mudambi, Professor and Perelman Senior Research Fellow of Strategic Management, Department of Strategic Management, Fox School of Business, Temple University, US, Pietro Maria Navarra, Professor of Economics of the Public Sector and Chancellor, University of Messina, Italy and Visiting Professor of Economics and Philosophy at the University of Pennsylvani, US and Giuseppe Sobbrio, Professor of Public Economics, University of Messina, Italy

• Contents: Foreword 1. Perspectives on Global Institutional Change Part I: Institutions, Economic Growth and Individual Welfare 2. Competition of Political–Economic Systems and Ideological Neutrality as Conditions for Viable Economic Development 3. The Impact of the Electoral System and of Other Political Institutions on Public Debt and Government Finances in Italy 4. Institutions Matter for Procedural Utility: An Econometric Study of the Impact of Political Participation Possibilities 5. Institutional Design in Plural Societies: Mitigating Ethnic Conflict and Fostering Stable Democracy 6. Fiscal Federalism and the Stability and Growth Pact: A Difficult Union Part II: Institutions and Business Activity 7. The Changing Institutional Form of Innovation: From Exploiting Market Power to Developing Corporate Technological Capability 8. Institutions, Entrepreneurship, and Growth: Biomedicine and Polymers in Sweden and Ohio 9. Corporate Governance and Capital Markets in the Two Capitalisms 10. Political Orientation and Multinational Investment Flows into Italy Part III: Institutional Transition 11. The Glorious Revolution of 1688: Successful Constitutional and Institutional Adjustment in a Period of Rapid Change 12. The Politics of Poverty 13. The Role of International Monetary Institutions after the EMU and the Asian Crisis: Some Preliminary ideas using Constitutional Economics 14. On the Delegation of Powers – With Special Emphasis on Central and Eastern Europe Index

'The book . . . throws lights on the relationship between various institutions, in particular between the market and the state. It is strongly argued that the establishment of law and order, and an effective guarantee of property rights, must precede the introduction of the price system; if done in reverse order, failure and injustice result. Without a doubt, readers, whatever their own particular standpoint, will be able to derive considerable benefit from this collection.'