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Author: Douglass Cecil North
Publisher: Ics Press
ISBN: 9781558152113
Category : Economic development
Languages : en
Pages : 32
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Book Description
Author: Douglass Cecil North
Publisher: Ics Press
ISBN: 9781558152113
Category : Economic development
Languages : en
Pages : 32
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Book Description
Author: Douglass C. North
Publisher: Cambridge University Press
ISBN: 9780521397346
Category : Political Science
Languages : en
Pages : 164
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Book Description
An analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies is developed in this analysis of economic structures.
Author: Douglass C. North
Publisher: Cambridge University Press
ISBN: 1139642960
Category : Political Science
Languages : en
Pages : 231
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Book Description
Continuing his groundbreaking analysis of economic structures, Douglass North develops an analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies, both at a given time and over time. Institutions exist, he argues, due to the uncertainties involved in human interaction; they are the constraints devised to structure that interaction. Yet, institutions vary widely in their consequences for economic performance; some economies develop institutions that produce growth and development, while others develop institutions that produce stagnation. North first explores the nature of institutions and explains the role of transaction and production costs in their development. The second part of the book deals with institutional change. Institutions create the incentive structure in an economy, and organisations will be created to take advantage of the opportunities provided within a given institutional framework. North argues that the kinds of skills and knowledge fostered by the structure of an economy will shape the direction of change and gradually alter the institutional framework. He then explains how institutional development may lead to a path-dependent pattern of development. In the final part of the book, North explains the implications of this analysis for economic theory and economic history. He indicates how institutional analysis must be incorporated into neo-classical theory and explores the potential for the construction of a dynamic theory of long-term economic change. Douglass C. North is Director of the Center of Political Economy and Professor of Economics and History at Washington University in St. Louis. He is a past president of the Economic History Association and Western Economics Association and a Fellow, American Academy of Arts and Sciences. He has written over sixty articles for a variety of journals and is the author of The Rise of the Western World: A New Economic History (CUP, 1973, with R.P. Thomas) and Structure and Change in Economic History (Norton, 1981). Professor North is included in Great Economists Since Keynes edited by M. Blaug (CUP, 1988 paperback ed.)
Author: Ashok Chakravarti
Publisher: Edward Elgar Publishing
ISBN: 1781001413
Category : Business & Economics
Languages : en
Pages : 257
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Book Description
'This book represents an important next step in the new institutional economics. Using this perspective, it undertakes a thorough re-examination of the problems of development.' – Barry R. Weingast, Stanford University, US 'Institutions, Economic Performance and the Visible Hand is a wide ranging, well-written, and provocative contribution to the study of political and economic organization. Ashok Chakravarti advances arguments and interpretations that are both interesting and, often, controversial. Although I find myself "arguing" with many of them, this is one of the many virtues of the book. I recommend the book to others who have an interest in institutional economics – why it is important, where it has been, and where it is going.' – Oliver E. Williamson, Nobel Laureate in Economics, University of California, Berkeley, US 'This is an ambitious and wide-ranging book, which seeks to overthrow the minimalist view of the role of institutions in economic systems contained in the standard economic model, and instead advocates a more active institution-building effort to promote the development of poor countries. This important contribution is to review and consolidate the themes and issues that emerge from a very large literature on the subject of institutions and economic development, and to coherently formulate hypotheses relating institutions to economic performance. This should be useful to a wide range of scholars.' – John Toye, University of Oxford, UK This timely study convincingly argues that it is not resources but the institutions which govern the interaction and decision-making of economic and political agents, that are the key factor in determining the economic performance of nations. The book challenges the conventional wisdom on the determinants of economic performance and provides an alternative vision of the functioning of an economic system. The author provides a structured survey which critically evaluates the theory and evidence of neoclassical approaches to growth and development. He then skillfully integrates insights from the old and new institutional economics into an original and comprehensive vision of the relationship between institutions, growth and economic development. Institutions, Economic Performance and the Visible Hand will be of special interest to academics, financial analysts and commentators, staff of international development agencies and NGOs, researchers and post-graduate students.
Author: Douglass C. North
Publisher: Princeton University Press
ISBN: 0691145954
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
In this landmark work, a Nobel Prize-winning economist develops a new way of understanding the process by which economies change. Douglass North inspired a revolution in economic history a generation ago by demonstrating that economic performance is determined largely by the kind and quality of institutions that support markets. As he showed in two now classic books that inspired the New Institutional Economics (today a subfield of economics), property rights and transaction costs are fundamental determinants. Here, North explains how different societies arrive at the institutional infrastructure that greatly determines their economic trajectories. North argues that economic change depends largely on "adaptive efficiency," a society's effectiveness in creating institutions that are productive, stable, fair, and broadly accepted--and, importantly, flexible enough to be changed or replaced in response to political and economic feedback. While adhering to his earlier definition of institutions as the formal and informal rules that constrain human economic behavior, he extends his analysis to explore the deeper determinants of how these rules evolve and how economies change. Drawing on recent work by psychologists, he identifies intentionality as the crucial variable and proceeds to demonstrate how intentionality emerges as the product of social learning and how it then shapes the economy's institutional foundations and thus its capacity to adapt to changing circumstances. Understanding the Process of Economic Change accounts not only for past institutional change but also for the diverse performance of present-day economies. This major work is therefore also an essential guide to improving the performance of developing countries.
Author: Claude Ménard
Publisher: Springer Science & Business Media
ISBN: 354069305X
Category : Business & Economics
Languages : en
Pages : 875
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Book Description
New Institutional Economics (NIE) has skyrocketed in scope and influence over the last three decades. This first Handbook of NIE provides a unique and timely overview of recent developments and broad orientations. Contributions analyse the domain and perspectives of NIE; sections on legal institutions, political institutions, transaction cost economics, governance, contracting, institutional change, and more capture NIE's interdisciplinary nature. This Handbook will be of interest to economists, political scientists, legal scholars, management specialists, sociologists, and others wishing to learn more about this important subject and gain insight into progress made by institutionalists from other disciplines. This compendium of analyses by some of the foremost NIE specialists, including Ronald Coase, Douglass North, Elinor Ostrom, and Oliver Williamson, gives students and new researchers an introduction to the topic and offers established scholars a reference book for their research.
Author: Oliver E. Williamson
Publisher: Edward Elgar Publishing
ISBN: 9780857938756
Category : Industrial organization (Economic theory).
Languages : en
Pages : 0
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Book Description
Transaction cost economics has and continues to be a fruitful area of research. There is still much to be done in the field with past research being used in conjunction with the vast number of contractual phenomena that have yet to be investigated in transaction cost economics terms. New challenges are posed by the need to move beyond the design of new contractual instruments (such as financial derivatives) to include an examination of the lurking hazards that attend contract implementation.
Author: Joseph T. Mahoney
Publisher: SAGE
ISBN: 1412905435
Category : Business & Economics
Languages : en
Pages : 273
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Book Description
The theoretical foundations of management strategy are identified and outlined in this text. Five theories are considered in the light of questions about how organisations operate efficiently, cost minimization, wealth creation, individual self-interest, and continued growth.
Author: Eric Alston
Publisher: Cambridge University Press
ISBN: 110708637X
Category : Business & Economics
Languages : en
Pages : 409
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Book Description
Why isn't the whole world developed? This toolkit for institutional analysis explains how rules affect the performance of countries, firms, and even families.
Author: Oliver E. Williamson
Publisher: Simon and Schuster
ISBN: 068486374X
Category : Business & Economics
Languages : en
Pages : 473
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Book Description
This long-awaited sequel to the modem classic "Markets and Hierarchies" develops and extends Williamson's innovative use of transaction cost economics as an approach to studying economic organization by applying it to work and labor as well as the corporation itself. In addition, Williamson explores its growing implications for public policy, including its potential influence on antitrust and merger guidelines, labor policy, and SEC and public utility regulations.