Synopsis This collection of essay looks at the recent trends in micro-development economics, where the source of underdevelopment problems is related to deficiencies in underlying institutions and distribution of assets. The first part of the volume is devoted to market failures and underdevelopment, inequality in land and human capital, contractual distortions in tenancy, and marketing and performance incentives. The second part deals with problems in governance in the context of tax evasion, bureaucratic corruption, fiscal decentralization and delivery of public services. This volume will interest students of economics, researchers, policymakers, economic journalists and analysts.