IRIS is a research and advisory center located in the Department of Economics at the University of Maryland, College Park. We work to understand and facilitate economic growth and democratic development in poor and transition countries, focusing on the role of institutions — the formal and informal rules by which individuals organize economic, political, and social activity. Research, Implementation, Strategy In partnership with scholars, international donors, and reformers, IRIS designs and supports reform efforts, improves the delivery of foreign assistance, and promotes knowledge sharing. IRIS is widely recognized as * A pre-eminent policy research institute on institutional reform and economic development * An implementer of innovative reform projects in the field * A source of strategic thinking and insight on development issues IRIS was among the first to show that market-augmenting institutions — such as property rights and contract enforcement — are key to development and are more secure when they are embedded in democratic governance structures. Understanding how these institutions evolve and applying these insights to specific problems forms the work of IRIS’s home office and field teams.