INSTRUMENTS OF DEVELOPMENT ECONOMICS

Abstract

Development economics has assimilated various theories, methods and strategies from other branches of economics and other sciences. One of the most important contributions comes from the institutional approach represented fundamentally through institutional economics, which accompany the theories of structural change proposed by development economists. In this paper, the main instruments with which development economics must work are briefly detailed: theories of structural change and institutions, because they allow implementing and ensuring the structural changes necessary to achieve a better level of development through long term.