This ambitious book scrutinizes the role of institutions in economic change, with special reference to Southeast Asia. It suggests that the nature of institutional arrangements such as households, community groups, firms, bureaucracies and formal governance systems can significantly affect human activity and economic success.The book begins by outlining the key elements of the theory of institutional economics. It then addresses institutions associated with particular markets and economic functions using case studies such as new agricultural technologies, the Indonesian labour force, the market for manufactured goods in Malaysia, Chinese entrepreneurs and policy makers in Thailand. The role of institutions is then discussed within the broader context of national and international change. Included are examinations of institutions which have evolved in Indonesia, those concerned with the transformation from central planning to the free market in Vietnam and institutions connected with governance and economic improvement in the Philippines.

The discussion is brought up-to-date by an analysis of the role of global economic institutions in the recent Asian crises, looking at ways in which their performance might be enhanced.