Examines prevailing theories of and strategies for economic development and the legal and institutional frameworks devised to implement these strategies. Considers what kinds of legal and institutional arrangements best facilitate economic growth, how law structures and shapes markets, what “development” is and how it can best be measured, and whether legal instruments can be used effectively to address underdevelopment in a structural way. Focuses on development in the so-called developing world while exploring some strategies for addressing development in a local community context. Analyzes several development case studies posing particular problems in specific regions and contexts.