Abstract
According to New Institutional Economics, the GDP per capita has significantly improved in the countries where the institutional quality has been improved. In addition to this information, the increase in the quality of institutional determinants has positive effect on economic performance. In this chapter, after the structures of IMF, World Bank, and European Union have been discussed, the governance debate will be made on the aforementioned institutional. Concepts about new institutional economics are discussed, as are the improvement of institutional quality and the relationship of economic development within the frame of IMF, World Bank, and European Union.
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