Nobel Prize-Winning Research Highlights Cambodia’s History of Extractive Institutions

Earlier this month, Daron Acemoglu, Simon Johnson, and James Robinson had been awarded the Nobel prize in economics for his or her work on how colonial establishments are a key determinant of whether or not international locations develop into wealthy or poor.

The premise of their work is a paper printed in 2001 which led to a ebook by Acemoglu and Robinson, “Why Nations Fail: The Origins of Energy, Prosperity and Poverty,” which got here out in 2012. The essence of their argument is that the wealth and poverty of nations is determined by the sort of establishments they’ve. Inclusive establishments, which shield property rights and democracy, usually tend to obtain sustainable financial progress. Nations which depend on “extractive establishments” to pay attention wealth within the palms of a ruling elite usually tend to stay caught in poverty.

In full: https://thediplomat.com/2024/10/nobel-prize-winning-research-highlights-cambodias-history-of-extractive-institutions/