This year’s Nobel Symposium has been on the topic of Growth and Development. Several of the presentations (available here) deal with the impact of institutions on economic growth and development. The contributions by Daron Acemoglu and Andrei Shleifer in particular do a great job in taking stock of what we know about the role institutions play in society and the economy. And the discussion is useful in understanding the methodological challenges in demonstrating the importance of institutions as well. Highly recommended.