This ambitious book presents a conceptual framework for an institutional approach to economic change and economic transformation. It sheds important light on two basic concepts: social complexity and interactive governance.The first part of the book develops the theoretical foundations for dealing with social complexity, economic governance and change. The second part describes the failures and successes of different forms of governance in different cultural and institutional contexts. A major theme in the book is the significance of social context and path-dependence in the management of economic change.

The book will have particular appeal to economists and political scientists concerned with the political economy of economic change and the transition process.