Australian Journal of Asian Law
2016, Vol. 17, No. 2, article 11
Abstract: This article uses the case of India to suggest that the explanations of North and his colleagues of open access orders do not fit well with contemporary developing countries. The political system of India after independence was mainly based on the British model, with influences from the US and French models. Despite India’s practice of Western style of democracy, its economic and human development record remained poor, until at least the late 1970s. In the 1980s, however, India started to liberalise the economy. Focusing on open access to economic organisations and activities has led to better institution building. While India still has a long way to go in terms of institutional development, it has now devoted more resources to the development of institutions in the areas of property rights protection and contract enforcement, the financial market, the rule of law, and human resource accumulation. This study of India argues that if a developing country has difficulty in achieving open access to both political organisations and activities and economic organisations and activities, prioritising open access to economic organisations and activities is likely to produce better economic and human development consequences. Click here to read the full article.