ABSTRACT
This chapter considers the underlying institutional requirements for economic growth. It has the major goal of setting out the necessary ingredients for a successful commercial and financial centre. These will be then applied to the subsequent assessments for each of the economies and their cities in subsequent chapters. A spectrum of factors may be relevant to economic development. Some general preconditions will be examined but with an understanding that particular markets may have their own story. Some scholars, most notably La Porta and colleagues, have long stressed the importance of law and regulation. The specific role of law and its enforcement will be examined. Other factors, such as politics and culture, are also considered.
